Hong Kong’s biggest electricity supplier, CLP Power, said today, Tuesday, that it will raise fuel costs by 5.4 percent in June, the third consecutive monthly hike, and the biggest monthly increase so far this year.
In a statement, CLP said that
fuel costs for next month would rise to HK$0.42 per kilowatt-hour (kWh), up fom
the HK$0.40 per kWh for May.
The latest rise marks a
steady climb since April, with the surcharge having increased by a total of 3.4
cents per kWh, or more than 8.6 percent, since.
The city's other utility firm, HK Electric, last
week announced it was also hiking fuel costs in June by 20 percent from May,
due to the Iran war.
HK Electric had also warned that more fuel
increases could come in the coming months, as the current levels have yet to
fully reflect the rise in fuel costs.
HK Electric supplies energy for Hong Kong Island
and Lamma, while CLP Power serves Kowloon, the New Territories and Lantau
Island, where more than 80 percent of the city's population lives.
With the upcoming fuel hikes,
a typical three-member household using 300 kWh a month will
pay about HK$6.50 more compared with current levels, and about HK$10.20 more compared
wit the level before the increases began in April.
CLP said the fuel cost adjustment reflects the difference
between actual and forecast fuel prices, including oil, gas and coal.
Energy Advisory Committee chairman Simon Wong said
fuel adjustment charges are expected to continue rising in the coming months as
oil prices continue to surge.
He expects the charge to peak around August and
remain at an elevated level with future adjustments depending on global
developments.
