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.
As modern families aspire to an eco-friendly lifestyle, HK Electric promises its customers a green and comfortable way of life made possible by the use of electric appliances.
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 has been the power behind Hong Kong for more than 120 years, having established a long and fruitful partnership with the community. While our prime mission is to provide a world-class electricity supply, we focus not only on the results, but also on the way we deliver them.
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.
Addressing the community's aspirations for cleaner air, and in support of the Government's energy and environmental policy objectives and its Climate Action Plan 2030+, HK Electric will launch a number of funding and service schemes to further encourage the use of renewable energy (RE) and promote energy efficiency and conservation (EE&C). The frameworks of the schemes, which will come into effect on 1 January 2019, are highlighted below and full details will be announced later this year.
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1. Smart Power Building Fund
To further encourage and help more buildings to improve the energy efficiency performance of building services installations (BSI) for communal uses (lightings, air-conditioning, electrical, lift and escalator installations), HK Electric will increase the funding size to HK$25 million per year. Buildings in HK Electric's supply area (except those directly owned and operated by the Government such as government offices) as well as projects involving retro-commissioning and building-based smart/IT technologies in addition to retrofitting of BSI will be eligible to apply.
2. Smart Power Care Fund
HK Electric will establish a new funding scheme, Smart Power Care Fund, to further promote EE&C in the community. From 2019, HK Electric will provide subsidy to the needy and disadvantaged households within HK Electric's supply area in adopting energy-efficient electrical appliances and improving electrical safety.
3. Smart Power Energy Audit
HK Electric will continue to provide free energy audit services to non-residential customers to help them identify energy saving opportunities at their business premises. Priority will be given to those customers (e.g. schools, NGOs, small and medium enterprises, etc.) who have fewer resources and/or are not statutorily mandated to carry out energy audits.
4. Smart Power Loan Fund
HK Electric in collaboration with banks will provide interest-subsidised loans to help Smart Power Building Fund and Smart Power Energy Audit participants implement energy saving initiatives.
5. Smart Power Education Fund
HK Electric will continue to operate an education fund to promote EE&C, low carbon lifestyle and the application of renewable energy, amongst students and the general public through different education and promotional activities.
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1. Feed-in Tariff (FiT) Scheme
To encourage private-sector customers to invest in and deploy renewable energy (solar photovoltaic and wind power systems), HK Electric will establish a FiT Scheme. Under the scheme, HK Electric will purchase electricity generated from renewable sources from these customers at the Feed-in Tariff rate, which will be higher than the prevailing electricity tariff rates. Both existing and new solar photovoltaic and wind power systems within HK Electric's supply area will be eligible to apply.
2. Renewable Energy Certificates (RECs)
HK Electric will provide RECs and invite customers to subscribe as a demonstration of their support to the development of renewable energy in Hong Kong. RECs represent the locally generated renewable energy purchased or generated by HK Electric, and will be sold at a premium on top of prevailing electricity tariff rates.
Remarks:• "Smart Power Building Fund" corresponds to "New Smart Power Fund" in the "2019-2033 Scheme of Control Agreement" (termed as "SCA" below)• "Smart Power Care Fund" corresponds to "HEC Community Energy Saving Fund" in the SCA• "Smart Power Energy Audit" corresponds to "Energy Audit Programme" in the SCA• "Smart Power Loan Fund" corresponds to "Energy Saving Loan Fund" in the SCA• "Smart Power Education Fund" corresponds to “Education Fund" in the SCA
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