'Grassroots Will Be Hit Hardest By Power Price Rise'
"); jQuery("#212 h3").html("

"); });
2021-11-10 HKT 11:56
A pressure group said on Wednesday that a rise in power prices will hit grassroots residents in sub-divided flats particularly hard.
The territory's two power companies have announced price increases from January 1, with charges to rise by 7 percent on Hong Kong Island and 5.8 percent in Kowloon and the New Territories.
On an RTHK programme, Candice Chung from the Concerning Grassroot Housing Rights Alliance said many landlords overcharge sub-divided flat tenants for electricity.
“Overcharging is common. The two power companies are charging between HK$1.2 and HK$1.3 for each unit of electricity, but landlords are charging tenants of sub-divided flats HK$1.6 each unit,” she said.
Chung predicted that the overcharging problem will get worse after prices rise.
She said it would be difficult for sub-divided flat tenants to reduce their electricity use and they might instead cut their spending on food and education in order to save money.
ZA Bank Brings Nasdaq Data To Hong Kong, Expanding US Stock Access And Investor Education
ZA Bank and Nasdaq have announced a collaboration aimed at enhancing digital wealth management in Hong Kong and interna... Read more
Hong Kong To Study One‑Stop Infrastructure For Equities, Bonds And Digital Assets
The Hong Kong Monetary Authority’s (HKMA) CMU OmniClear and the Hong Kong Exchange (HKEX) are set to begin a study on... Read more
Hong Kong To Issue First Stablecoin Licenses In March, Expand Crypto Regulation
Hong Kong will issue its first licenses for fiat-referenced stablecoin issuers in March and introduce new legislation l... Read more
MSIG Joins US$6B IFC Credit Insurance Facility To Boost Emerging Market Lending
MSIG USA and Mitsui Sumitomo Insurance (MSI Japan), together referred to as MSIG, have joined a new insurance-ba... Read more
Why The $2 Trillion Stablecoin Prediction Is Too Low
McKinsey estimates the stablecoin market will hit $2 trillion by 2028. But according to Sam Lin, COO of dtcpay, even th... Read more
RedotPay Eyes US IPO With Potential US$1 Billion Raise
RedotPay is reportedly exploring an IPO in the US that could raise more than US$1 billion, according to people famili... Read more