Market Chatter: Towngas Negotiating with Hong Kong Government for Tariff Increases

MT Newswires Live06-05

The Hong Kong and China Gas Company or Towngas (HKG:0003) is holding negotiations with the Hong Kong government on the possibility of tariff increases, seen to be the first in two years, the South China Morning Post reported Tuesday.

The tariff increases are seen to be "reasonable" and will not be a double-digit raise, the SCMP said, citing Managing Director Peter Wong Wai-yee.

Wong said there is no timeframe yet for the tariff increases as these are pending government approval, according to the report.

Towngas, Hong Kong's lone piped gas provider, last raised the basic tariff by 4.4% in August 2022 to cope with high operating and investment costs, the SCMP said.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

Price (HKD): $6.13, Change: $-0.05, Percent Change: -0.81%

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