CLP HOLDINGS (00002) and HKELECTRIC-SS (02638) have announced their electricity tariff adjustments for 2026. The average net tariffs for CLP and HK Electric will decrease by 2.6% and 2.2%, respectively, next year.
CLP stated that it will reduce electricity prices by 2.6% starting January 1, 2026. The average net tariff will be 140.6 cents per kWh, a decrease of 3.7 cents compared to 2025. Benefiting from stabilized international fuel prices, the fuel cost adjustment will drop by 6.9 cents to 39.4 cents per kWh. However, due to rising operational costs, the average basic tariff will increase to 101.2 cents per kWh.
CLP CEO Lo Ka-chun emphasized that the price reduction aims to alleviate living expenses for residents and operational costs for small and medium-sized enterprises. Additionally, CLP will allocate HKD 270 million through its "CLP Community Energy Saving Fund" to promote energy conservation, support underprivileged communities, and boost Hong Kong's economy.
Despite geopolitical uncertainties affecting fuel prices, CLP will continue diversifying its fuel sources to control costs while enhancing operational efficiency through prudent financial management and innovative technologies. The company also plans to distribute HKD 60 million in consumption vouchers to around 600,000 eligible households, providing HKD 100 per household to support the catering and retail sectors.
HK Electric noted that due to infrastructure upgrades and rising operational costs, the basic tariff for 2026 will increase by 5 cents to 127.9 cents per kWh. However, the fuel adjustment charge will decrease by 8.7 cents to 35.4 cents per kWh in January 2026, reflecting lower fuel market prices. As a result, the average net tariff will drop by 3.7 cents to 163.3 cents per kWh, a 2.2% reduction.
For a residential customer consuming 275 kWh per month, the January 2026 bill will be HKD 352.1, saving HKD 10.1 compared to January 2025.
HK Electric Managing Director Cheng Cho-yuen highlighted the company's efforts to modernize aging power generation and transmission equipment while maintaining reliable supply. To counter increasing cyber threats, HK Electric is also upgrading its IT systems. The company supports the government's environmental policies, including transitioning from coal to natural gas. The new L13 gas-fired unit is progressing well and is expected to commence operations in 2029.
Cheng acknowledged that capital investments may pressure tariffs, but the net tariff reduction in 2026 reflects stabilized fuel prices despite rising operational costs.
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