HK Electric Investments and HK Electric Investments : Offers Special Fuel Rebate

Press Release

30 April 2023

HK Electric Offers Special Fuel Rebate

In response to media enquiries, a spokesperson for HK Electric said that funds will be drawn from the Fuel Clause Recovery Account to provide a Special Fuel Rebate to all HK Electric customers, so that the Fuel Cost Charge (FCC) to be paid by customers in May will remain unchanged.

The spokesperson explained that in accordance with the established mechanism, the FCC is adjusted monthly to reflect the changes in fuel costs more promptly. Following the drop of international fuel prices since early this year, the increase of HK Electric's FCC has eased off, and will go up by 1.1 cents in May to 91.7 cents per unit of electricity. However, based on the fuel prices in recent months, the FCC is expected to go down by mid-2023 in line with our suggestion at a meeting of Legco's Environmental Affairs Panel in March.

"In view of this, we have decided to offer a Special Fuel Rebate to our customers so that the FCC payable in May will be frozen at the April level, i.e., 90.6 cents per unit of electricity," the spokesperson added.

Furthermore, with the new offshore liquefied natural gas (LNG) terminal developed jointly with CLP Power going into operation in mid-2023, we will have greater access to LNG at competitive prices which is conducive to us curbing our fuel cost, the spokesman noted.

Under the Scheme of Control Agreement entered between HK Electric and the Government, fuel cost is passed through to customers without any profits incurred.

Media Enquiries:

Elaine Wong

Manager (Media Relations)

Contact: 2843 3229 / [e-mail]