HK Electric cuts November fuel charge to 55.1 cents
Crhk · 5 SOURCESabout 2 hours ago2 MIN
Summary
HK Electric said its fuel clause charge for November will be 55.1 cents per kilowatt-hour, down 4.2 cents from October and about 7% lower month on month. Including the basic tariff, its average net electricity charge for November will be 183 cents per kilowatt-hour, 2.2% below October's level. CLP Power, by contrast, will raise its November fuel clause charge by 1.2 cents to 47.4 cents per kilowatt-hour.
Key Points
- HK Electric announced on October 26 that its November fuel clause charge will be 55.1 cents per kilowatt-hour, down 4.2 cents from October.
- The company said this is its second consecutive monthly reduction, with the month-on-month drop working out to about 7%.
- After adding the basic tariff, HK Electric's average net electricity charge for November will be 183 cents per kilowatt-hour, 2.2% lower than October.
- HK Electric said the monthly adjustment mechanism has a deferred effect, so November's fuel charge mainly reflects fuel costs incurred from July to September.
- The utility said international oil and natural gas prices remain volatile, and future fuel charge levels will depend on global fuel price movements.
Why It Matters
For Hong Kong Island customers served by HK Electric, the November adjustment means a modest easing in power bills after two months of lower fuel charges. The contrast with CLP's latest increase also shows how monthly electricity costs can move differently between the city's two power suppliers as international fuel prices fluctuate.