CLP to keep electricity tariff below inflation

CHINA Light & Power has promised to keep electricity tariff increases below the rate of inflation for the next few years despite slowing growth and rising costs.

The company said yesterday it would raise electricity tariffs in the new financial year, but could not estimate when or how much they would rise. Chairman Sir Sidney Gordon said it had imposed stringent controls on manpower and other operational expenses to keep tariff rises as low as possible. 'Tariff increases in the next few years will remain lower than prevailing inflation. That is no small commitment in view of the fact that in the past 10 years our basic tariff has lagged behind inflation by nearly 80 per cent,' he said.