Major electricity users welcomed the proposed formula, provided it leads to cheaper electricity.
Federal Restaurants Group, which has 18 outlets, said it appreciated any measure that eased its operational burdens. It pays more than $1 million a month in electricity charges, accounting for about 4 per cent of operating costs - a bill that will rise when two new restaurants open next year, its deputy general manager, Lee Wing, said.
'There seems to be an improvement in the general environment but the reality is we are struggling to keep our costs down. At the same time we can't shift the cost to our customers without running the risk of losing them,' he said.
'Hence, while electricity may not form a big part of our cost, any savings from this front would be very welcome.'
The MTR Corp said it would study the proposals carefully before making any conclusions. Electricity charges make up about 15 per cent of its costs.
'We are committed to improving energy efficiency in our operation and service,' a spokesman said. 'We want to contain our energy expenditure at a reasonable level and to ensure that rail transport remains the most environmentally friendly transport.'