HK Electric customers are set to pay more for their energy bills next month after the Hong Kong company announced a 20.4 per cent rise in its fuel charge as the ongoing war in the Middle East contributed to volatile oil prices.
The energy provider, which mainly serves Hong Kong Island and Lamma Island, also warned on Friday that the charge was expected to continue rising “in the coming months”.
HK Electric announced it would adjust its fuel clause charge for June to 31.3 HK cents per unit of electricity, up from 26 HK cents in May and an increase of 20.4 per cent.
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“The adjustment begins to reflect the significant rise in international fuel prices arising from the Middle East conflict. However, due to the ‘deferred effect’, the current level has yet to fully capture the changes in fuel costs,” the company said.
“The [fuel clause charge] is expected to continue to increase in the coming months.”
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HK Electric’s net tariff – the total price paid by consumers – is generally calculated by combining the basic tariff and the fuel clause charge.