CLP and HK Electric Increase Fuel Cost Adjustment for June, Further Rises Expected in Coming Months

Stock News05-26 16:58

CLP HOLDINGS (00002) has announced that, effective June 1st, the fuel cost adjustment charge will be 42.6 cents per kilowatt-hour, representing a 5.4% increase from the previous month. HKELECTRIC-SS (02638) stated last week that its June fuel cost adjustment charge will be 31.3 cents per kilowatt-hour, a 20.4% rise compared to the prior month. Due to a "deferral effect," the current figures do not yet fully reflect changes in fuel costs, and the fuel adjustment charges are expected to continue climbing in the coming months. In a recent interview, the Chairman of the Hong Kong Energy Advisory Council indicated that, influenced by oil prices, the fuel charges for both utilities are projected to peak in August.

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