CLP plans Net savings

CLP Power Hong Kong, which supplies electricity to customers in Kowloon, the New Territories and Lantau, has signed a contract to source materials through the Internet to reduce costs and time. The contract with electronic-sourcing service provider FreeMarkets aims at saving at least 15 per cent of spending on sourcing equipment such as transformers, electricity cable, meters and switch gear, according to CLP Power head of contracts and purchasing Richard Hawtin. He said CLP spent about HK$9 billion on sourcing materials last year. 'Using the Internet for sourcing can reduce sourcing cycle-time from six months to eight weeks, which saves time in negotiations and cost of purchase,' he said.