Market Chatter: CLP Power to Install Lightning Arresters, Power Protection Equipment by End-2025

MT Newswires Live07-18

CLP Holdings (HKG:0002) subsidiary CLP Power is set to install 100 lightning arresters and 200 waterproof gates by the end of 2025 in a bid to safeguard its power system against extreme weather conditions, The Standard reported Thursday.

The decision follows 26 significant power incidents since July 2021, with eight power cuts or voltage drops this year, the report said, citing CLP managing director Joseph Law Ka-chun.

CLP will also launch a smart management system for 24/7 monitoring and boost inspections of third-party construction sites, the report said.

Hong Kong's Secretary for Environment and Ecology Tse Chin-wan urged CLP to expedite the installation of the lightning arresters and other protective facilities, saying more than 80% of the power incidents in the past three years were related to CLP, the report 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): $65.10, Change: $+0.10, Percent Change: +0.15%

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