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Tuesday, Dec 06, 2022

Electricity tariff hike inevitable amid Ukraine crisis, Covid impact

Electricity tariff hike inevitable amid Ukraine crisis, Covid impact

Hongkongers are to face higher electricity bills next year as the Environment and Ecology Bureau said a hike in power tariffs will be inevitable due to the war in Ukraine and the coronavirus.
This came as the bureau is set to conduct an annual tariff review with the two power companies in the territory.

The bureau noted that the war in Ukraine and the coronavirus will inevitably put upward pressure on fuel prices in the coming two years, and that an increase in electricity tariff next year will be inevitable.

Meanwhile, lawmaker Chan Siu-hung, also a senior adviser to CLP Power's parent company CLP Holdings, said the possible increase came as a result of the war in Ukraine provoking further increases in energy prices.

Hong Kong’s plan to achieve carbon neutrality - with the city requiring cleaner energy is also expected to bring up the city’s electricity tariff next year, said Chan.

The lawmaker called on the SAR government to tap into the resources of the Greater Bay Area and work with neighboring cities to address these energy-related challenges.

He also noted that the government should review the city’s roadmap on the popularisation of electric vehicles, and unveil plans to cater to the development of new energy vehicles.

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