HK Electric Investments is the first fixed single investment trust listed in Hong Kong with a focus on the power industry. Our principal operating subsidiary, The Hongkong Electric Company, Limited (HK Electric), commenced operations in 1890 and is one of the longest-established utility companies in the world.
Over our long history, we have consistently supported Hong Kong's economic journey by offering safe, reliable and affordable electricity while minimising the impact of our operations on the environment as we strive to deliver sustainable growth in long-term value to our investors.
HK Electric Investments believes that open and on-going communication with our stakeholders is central to our operation and development. We engage different stakeholders through a variety of channels and stakeholder suggestions and feedback are highly valued in our decision making process as we strive for continuous improvements.
Underpinned by its core value of "Pursuit of Excellence", HK Electric is committed to delivering excellent services and supply reliability to our customers. We have been providing a world-class supply reliability of over 99.999% since 1997 and all our service standards are achieved or even surpassed every year.
To satisfy the aspirations from the community, and in support of Government’s energy and environmental policy objectives, HK Electric has launched a suite of "Smart Power Services".
HK Electric is one of the longest-established power companies in the world. The Company has a world-class record of providing a highly reliable electricity supply to Hong Kong and Lamma islands at a reasonable and affordable price.
HK Electric Investments is committed to meeting the long-term energy needs and supporting the sustainable development of the community we serve. To do this, we focus not only on powering Hong Kong with a world-class electricity supply, but also on the way we deliver it and the impacts it has on the environment.
HK Electric aspires to be an employer of choice. We have policies and systems in place to attract talents and through continuous training and development, nurture them for a fulfilling career. We offer competitive remuneration, an ideal workplace and comprehensive wellness programmes for our employees while maintaining regular and open dialogues with them.
HK Electric today announced a 1.4 cent reduction in basic tariff and a 4.8 cent increase in fuel clause charge per unit of electricity to reflect rising fuel costs, effective 1 January 2011.
The average tariff will rise from 119.9 cents per unit of electricity in 2010 to 123.3 cents in 2011, a 2.8% increase after the basic tariff has been reduced to alleviate the impact of the tariff rise on customers.
The Managing Director of HK Electric, Mr. Tso Kai-sum said in the Legislative Council that international fuel prices have remained volatile in recent years. Prices for coal and liquefied natural gas have gone up by 31% and 13% respectively since the end of 2009 and the upward trend is expected to continue in 2011.
"In light of this, we have had to adjust the fuel clause charge to reflect rising fuel costs," Mr. Tso said, noting that fuel costs are a pass through and do not form part of the Company's profit.
Mr. Tso noted that this would be the first tariff increase for HK Electric since the new Scheme of Control took effect two years ago. "In 2009, we lowered the tariff by 5.9% followed by a tariff freeze in 2010. The adjustment in 2011 is solely to reflect the rising fuel costs," Mr. Tso explained.
Following the adjustment, 70% of HK Electric's domestic customers who use 500 units of electricity or below monthly will have their electricity charge increased by approximately $14 or less a month, while for 70% of non-domestic customers who use 1,700 units or below monthly, the increase will be approximately $58 or less a month.
HK Electric will continue to provide assistance to those in need through the Concessionary Tariff Schemes, which offer 60% discount on tariffs for the first 200 units of electricity for eligible applicants, including the elderly, disabled, unemployed and single-parent families with deposit and minimum charge payments waived.
Average Tariff for 2011
(Cents / kWh)
Average Basic Tariff
Fuel Clause Charge