Bloomberg Anywhere Remote Login Bloomberg Terminal Demo Request


Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.


Financial Products

Enterprise Products


Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000


Industry Products

Media Services

Follow Us

CLP to Raise Hong Kong Electricity Tariffs by 5.9% in 2013

CLP Holdings Ltd., Hong Kong’s biggest electricity supplier, plans to raise net charges by 5.9 percent in 2013, according to a company statement.

CLP and Hongkong Electric Co., a unit of Power Assets Holdings Ltd. and the city’s other electricity supplier, disclosed plans to increase energy tariffs at a meeting of the Legislative Council yesterday. Hongkong Electric plans to boost charges by 2.9 percent, the company told lawmakers.

“We are conscious of the need to keep the 2013 adjustment to a reasonable level,” CLP Managing Director Richard Lancaster said in an e-mailed statement. CLP will introduce a rebate to encourage conservation and help customers save energy, he said.

Higher fuel costs prompted the tariff increase, according to the statement. About 35 percent of domestic customers and 44 percent of small businesses won’t have to pay more because of the new rebate. CLP estimated 2012 capital spending at HK$7.88 billion ($1.02 billion), according to a separate filing to Hong Kong’s stock exchange yesterday.

CLP cut its proposed electricity tariff increase to 4.9 percent from 9.2 percent last year after criticism from government officials including former Hong Kong Chief Executive Donald Tsang.

CLP shares fell 0.2 percent to HK$67.30 as of 10:19 a.m. in Hong Kong, while the city’s benchmark Hang Seng Index gained 0.7 percent. Power Assets fell 0.6 percent to HK$67.10.

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.