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CLP Groupi

CLP Group (its holding company is CLP Holdings Ltd) is an electricity company in Hong Kong with businesses in a number of Asian markets and Australia. Incorporated in 1901 as China Light & Power Company Syndicate, its core business remains electricity generation, transmission, and retailing.

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  • CLP Holdings plans to increase the contribution of clean energy in the mix of its power output by accelerating the sourcing from mainland nuclear plants
  • The energy giant, which plans a phase out of coal-based assets by 2040, seeks to achieve net-zero greenhouse gas emissions across its operations by 2050

Operator of Hong Kong’s largest power utility was buoyed by turnaround in fair value related to forward energy contracts, but still missed estimates for profit, revenue.

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Hong Kong rightly takes pride in having one of the world’s most efficient and reliable electricity supplies but recent interruptions of service leave city with a black eye.

Data centres in Hong Kong are forecast to expand 30 per cent by 2025 in terms of gross floor space. That will drive efforts to make such buildings greener, with Equinix and CLP Power setting an example.

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Residential bills for CLP Power to be cut by 7.4 per cent while those for HK Electric by 16 per cent starting in January, compared with a year ago.

Readers discuss the upcoming review of the agreements that regulate electricity supply in Hong Kong, the relaxation of visa requirements to China, the merits of having an integrated health app, and the aborted taxi driver strike.

International energy prices have been softening since the beginning of the year, says the power provider’s CEO as the company returns to profitability in the first half.

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HK Electric to cut surcharge by 15.5 per cent over January levels as global fuel prices fall, but Sze Lai-shan of Society for Community Organisation says more relief needed for residents living in subdivided flats.

‘I have suggested to HK Electric that they have to give back their reward to residents in case they have got one,’ city’s environmental minister says.

Environment minister says that while the government sees urgency to suppress price increases, any changes to existing agreements must be backed by power firms.