HK Electric customers set for steeper bills in June over volatile oil prices
Energy provider to raise fuel clause charge by 20.4 per cent next month due to higher oil prices amid Mideast war and warns further increases expected
The energy provider, which mainly serves Hong Kong Island and Lamma Island, also warned on Friday that the charge was expected to continue rising “in the coming months”.
HK Electric announced it would adjust its fuel clause charge for June to 31.3 HK cents per unit of electricity, up from 26 HK cents in May and an increase of 20.4 per cent.
“The adjustment begins to reflect the significant rise in international fuel prices arising from the Middle East conflict. However, due to the ‘deferred effect’, the current level has yet to fully capture the changes in fuel costs,” the company said.
“The [fuel clause charge] is expected to continue to increase in the coming months.”
HK Electric’s net tariff – the total price paid by consumers – is generally calculated by combining the basic tariff and the fuel clause charge.