--- title: "Starting from January 1 next year, the two power companies will increase prices, with CLP Power's net electricity fee rising by 0.98% year-on-year and HK Electric increasing by 0.9%" type: "News" locale: "en" url: "https://longbridge.com/en/news/220093301.md" description: "China Light and Power Company Limited (CLP) and Hongkong Electric Company Limited (HKELECTRIC) will increase electricity tariffs starting January 1 next year. CLP's basic electricity tariff will rise to HKD 0.98 per kWh, an annual increase of 0.98%; HKELECTRIC's basic electricity tariff will rise to HKD 1.229 per kWh, an annual increase of 0.9%. The government will strictly review the electricity price proposals to ensure that citizens enjoy reasonable electricity supply and will require both companies to continue providing subsidies to alleviate the impact on vulnerable communities. CLP will allocate HKD 240 million to support household electricity bills, and HKELECTRIC will also continue to distribute subsidies to economically disadvantaged families" datetime: "2024-11-19T12:41:10.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/220093301.md) - [en](https://longbridge.com/en/news/220093301.md) - [zh-HK](https://longbridge.com/zh-HK/news/220093301.md) --- # Starting from January 1 next year, the two power companies will increase prices, with CLP Power's net electricity fee rising by 0.98% year-on-year and HK Electric increasing by 0.9% China Light and Power Company Limited (CLP) and Hongkong Electric Company Limited (HKELECTRIC) will increase electricity tariffs starting January 1 next year. Among them, CLP's basic electricity tariff will rise by 1.4 cents to 98 cents per kilowatt-hour, while the fuel cost will remain unchanged at 46.3 cents; after adjustment, the average net electricity tariff for 2025 will be 144.3 cents per kilowatt-hour, an annual increase of 1.4 cents or 0.98%. HKELECTRIC's basic electricity tariff will increase by 3.4 cents to 122.9 cents per kilowatt-hour, while the fuel adjustment cost will decrease by 1.9 cents to 44.1 cents per kilowatt-hour; after adjustment, the average net electricity tariff for 2025 will be 167 cents per kilowatt-hour, an annual increase of 1.5 cents or 0.9%. The Legislative Council's Environmental Affairs Committee held a meeting this afternoon (19th) to review the annual electricity tariffs with the two power companies. The Secretary for the Environment and Ecology, Tse Chin-wan, stated that to ensure citizens enjoy a safe, environmentally friendly, and reasonably priced electricity supply, the government strictly reviews the price proposals from the two power companies, striving to minimize the increase. Ultimately, the average net electricity tariff increase for the two companies will be less than 1% starting January 1 next year. Tse emphasized that the government will strictly monitor and ensure that the capital investment and operating expenses of the two power companies remain at the necessary minimum level to protect the interests of citizens. At the same time, he also requested the two companies to continue utilizing the Community Energy Saving Fund to provide subsidies, aiming to reduce the impact of tariff increases on vulnerable communities and small and medium-sized enterprises. **CLP: Prudently Control Costs to Reduce Price Increase** CLP stated that starting next year, the new electricity tariff will be 98 cents per kilowatt-hour, an annual increase of 0.98%. It will allocate approximately HKD 240 million from CLP's Community Energy Saving Fund to provide HKD 600 in electricity subsidies to 50,000 grassroots families, and HKD 1,000 in electricity subsidies to 20,000 subdivided flat households. CLP's President, Li Ka-chiu, stated that facing operational pressures such as rising material costs and a tight labor market, operating expenses have increased. However, CLP understands the public's concerns about electricity prices and has been working diligently to prudently control costs and reduce the extent of electricity price adjustments through a diversified fuel mix, keeping the average net electricity price for 2025 at a low level. Li indicated that CLP will allocate HKD 240 million through the "CLP Community Energy Saving Fund" to launch a series of measures to promote intelligent emission reduction in society, including continuing to offer CLP consumption vouchers and providing HKD 50 million in electricity subsidies to boost the social economy and support vulnerable communities. !\[\](https://imageproxy.pbkrs.com/https://www.hkcd.com.hk/userfiles/1732016593387873.jpg? x-oss-process=image/auto-orient,1/interlace,1/resize,w\_1440,h\_1440/quality,q\_95/format,jpg) **HKELECTRIC: Continuing to Distribute Cash Vouchers to Economically Disadvantaged Families** HKELECTRIC stated that the new electricity tariff next year will be HKD 1.67 per kWh, an annual increase of 0.9%. Excluding government subsidies, more than 80% of residential customers and over 50% of non-residential customers will see an additional monthly electricity expense of no more than HKD 10 compared to January this year. HKELECTRIC will continue to distribute cash vouchers to customers facing economic difficulties and provide electricity subsidies to those in need, involving approximately HKD 75 million. HKELECTRIC's Managing Director, Zheng Zuying, stated that due to the increasing frequency of extreme weather, HKELECTRIC needs to strengthen its power infrastructure while also updating old units and facilities. The related investments put pressure on electricity tariffs, coupled with rising operating costs, necessitating an adjustment of the basic electricity tariff. However, the overall trend of fuel prices has been relatively stable, leading to a decrease in fuel costs, thus resulting in an overall net electricity tariff increase of 0.9%. Zheng Zuying pointed out that although international fuel prices have recently slightly decreased, ongoing geopolitical tensions create instability in fuel prices. HKELECTRIC will continue to procure suitable and reasonably priced fuel, strictly control expenditures, and leverage technology to enhance operational efficiency to manage electricity prices ### Related Stocks - [02638.HK](https://longbridge.com/en/quote/02638.HK.md) ## Related News & Research - [CA Global Partners and Onyx Asset Advisors to Conduct Three-Day Public Auction of Howard's Appliance Inventory](https://longbridge.com/en/news/286266133.md) - [FRENCH FINANCE MINISTER LESCURE SAYS IT'S IMPORTANT TO STRUCTURE THE RARE EARTHS MARKET TO PREVENT A MONOPOLY BY A SINGLE COUNTRY.](https://longbridge.com/en/news/286229890.md) - [ITALY IS SENDING MINE-CLEARING SHIPS TO THE GULF TO HELP ACHIEVE A PERMANENT TRUCE.](https://longbridge.com/en/news/286229894.md) - [Wes Streeting enters no 10 for meeting with Starmer](https://longbridge.com/en/news/286217445.md) - [JD.com Announces First Quarter 2026 Results | JD Stock News](https://longbridge.com/en/news/286072462.md)