Govt Vows To Keep Electricity Tariff Hikes To Minimum

"); jQuery("#212 h3").html("

Related News Programmes

"); });

2022-10-28 HKT 13:54

Share this story

facebook

  • Govt vows to keep electricity tariff hikes to minimum

Secretary for Environment and Ecology Tse Chin-wan said the government will try to keep an expected increase in electricity charges to a minimum.

One of the city's power firms, CLP, said on Wednesday that tariff increases are "unavoidable" next year, citing surging fuel prices.

Speaking on a Commercial Radio programme on Friday, Tse noted that tariffs for the coming year will be announced in late November at the earliest, as the government is still in talks with the city's two power companies, CLP and HK Electric.

Asked if the tariff hikes could reach double-digits, Tse said: "We hope all increases would be kept to their lowest levels, this is our goal.

"As we haven't ended our discussions, it is not appropriate for me to disclose anything, but I can guarantee that we will try our best in working towards this goal."

Tse pointed out that government subsidies for electricity charges are still in place

He also called on people to use more energy-efficient products.

HK Electric customers paid 7 percent more for electricity this year, while charges for CLP customers in Kowloon and the New Territories rose 5.8 percent.

RECENT NEWS

Ant International And Bank Of China Partner To Enhance Cross-Border Payment Connectivity

Ant International and Bank of China (Hong Kong) (“BOCHK”) announced a partnership which leverages BOCHK’s banking... Read more

BitGo Korea Gets Green Light For Virtual Asset Custody, Backed By SK Telecom

BitGo Holdings, Inc. (BitGo) announced that its subsidiary, BitGo Korea, Inc. (BitGo Korea), received its Virtual Asset... Read more

Webinar: When Account Takeover Moves Past Onboarding

Account takeover shows why fraud risk cannot be treated as an onboarding problem. Fraudsters are using stolen credentia... Read more

JCB To Trial Stablecoin Payments In Japan With Digital Garage And Lawson

JCB Co., Ltd. (JCB), Digital Garage, Inc. (Digital Garage), and Lawson, Inc. (Lawson) announced that they have jointly ... Read more

Bonnie Chan To Lead HKEX Until Feb 2030 After Securing Second Term

The HKEX Board of Directors has approved the renewal of the employment contract of Hong Kong Exchanges and Clearing Lim... Read more

Ripple Signs Its First Korean Regional Bank In Cross-Border Remittance Deal

Ripple, a blockchain-based enterprise solutions provider for traditional and digital finance, announced a partnership w... Read more