Hong Kong power firms vow HK$310 million of relief measures before Legco meeting on prices

Hong Kong’s two power companies have unveiled relief measures worth more than HK$310 million (US$39.8 million) for consumers before a meeting in the legislature to discuss their prices, with some initiatives aimed at low-income households and NGOs.

CLP Power said on Friday it would spend HK$240 million on 12 initiatives launching next year, including a subsidy to replace air conditioners in the homes of underprivileged residents.

HK Electric, meanwhile, said it would allocate more than HK$70 million to fund 13 community initiatives.

The two power giants are expected to discuss potential adjustments to electricity prices at the Legislative Council on Tuesday next week, with both companies remaining tight-lipped over the coming talks.

CLP Power serves Kowloon, the New Territories and most outlying islands, while HK Electric supplies Hong Kong and Lamma islands.

CLP Power chief corporate development officer Quince Chong Wai-yan said its latest measures were on top of the HK$1 billion it had spent on community initiatives in recent years.