New round of HK$1,000 electricity subsidy benefits 2.8m households
An electricity charge subsidy of HK$1,000 for Hong Kong residents will be handed out starting June in 12 installments, with the subsidy expected to benefit some 2.8 million households in the territory, the government announced on Friday.
The subsidy came as one of the one-off relief measures announced by the Financial Secretary in the 2022-23 Budget to alleviate the economic pressure of the public caused by the epidemic.
Starting from June, a subsidy of HK$80 will be credited to each residential electricity account with the city’s two electricity companies in existence on the first day of each month for 11 consecutive months, and HK$120 in the 12th month, making up to a total of HK$1,000.
Meanwhile, in order to align with the new subsidy scheme, the government will also extend the expiry date of the existing subsidy scheme to December 31, 2024.
Such that both the unused credits under the existing subsidy schemes and the freshly injected credits under the new subsidy scheme can be used to cover billed electricity charges until the same expiry date.