Consumers of CLP Power, Hong Kong’s biggest electricity provider, will pay lower bills thanks to a decline in global fuel prices in recent months.
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Releasing its quarterly results on Monday, the company said monthly fuel costs for consumers dropped to 44.4 HK cents (5.7 US cents) per unit of electricity this month, “resulting in a 1.3 per cent drop in the average net tariff” from the beginning of the year.
The power firm also reported a 2.6 per cent fall in electricity sales in the first three months of the year as the milder weather reduced demand.
In November of last year, the company announced it would increase its basic tariff from January by 1.44 per cent to 98 HK cents per kilowatt-hour and keep its fuel charge unchanged at 46.3 HK cents per kWh, resulting in an overall increase of 0.98 per cent.
“CLP Power continued to exercise prudent cost controls to ensure reasonably priced energy, while offering additional support available to further relieve the burden on customers in need,” it said.
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The company serves more than 2.8 million customer accounts in Kowloon, the New Territories and the outlying islands.