2012 will bring another tariff hike for electricity customers in Hong Kong, CLP and HKE governed under the Scheme of Control agreement with the HKSAR Government, CLP and Hongkong Electric propose 9.2 percent and 6.3 percent tariff increases respectively last week. Criticized by all sectors, it should be no surprise that some “concessions” have been offered as an effort to placate government officials and the public. HKE’s latest proposal is 4.97 % increase for domestic users, and 6.08 % for businesses. CLP is offering a 7.4 % increase. However, as last with years hike, the structure of the proposal is more important than the actual percent figure cited, eventually somebody will have have to pay for the increased cost of fuel, if not this year, then next year.
UPDATE: CLP has reduced the electricity from tariff increase to 4.9% [link]. However, looking at the details you should budget for a significant tariff increase in 2013.
- John A. Herbert, energyLAB Consultant