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Kandy Wong

CLP Power laid out a long list of challenges for the company - ranging from rising coal costs to its struggle over a Hong Kong liquefied natural gas plant - at a briefing after its  shareholders' meeting yesterday.
The larger of the city's two electrical power companies said coal costs had risen 18 per cent year on year in the first quarter compared with 11 per cent for all of last year.
Meanwhile, its carbon dioxide emissions rose 8.5 per cent last year, hitting a 15-year high as it generated power for the city using more coal and less natural gas.
That is one reason why CLP Power is looking more at natural gas.
But the company is still battling with the government over final approval of its liquefied natural gas processing plant project, which is proposed for South Soko Island, south of Lantau.
CLP Holdings has submitted its five-year capital expenditure plan to the government, which includes HK$38 billion for the LNG plant, and is awaiting approval.
'We propose to have ongoing expansion  of transmission and the distribution system [in Hong Kong],' said  chief executive Andrew Brandler, although he did not elaborate on those plans.
Michael Kadoorie, chairman of CLP Holdings, said the LNG project  was a four-year project and  any delays  would make it difficult for the company to meet its social responsibility of delivering cleaner power. Mr Brandler said  CLP  was working on the company's climate vision for 2020 in which it  was hoped about 20 per cent of the electricity  would be generated by non-carbon dioxide emission resources, including renewable energy.
On the mainland, the company is seeking the central government's approval for a coal-fired plant and wind farm projects in  Guangxi costing 4.8 billion yuan (HK$5.4 billion).
He did not comment on further expansion plans on the mainland.
However, Mr Brandler said he was not satisfied with operations in the Australian market, where it owns power plants.
'We'll take further steps this year to consolidate the market,' he said.



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CLP outlines challenges including  rising coal costs, gas plant project