CLP Holdings (00002): The electricity sales volume in the first three quarters of the year was 27.456 billion kilowatt-hours, a year-on-year decrease of 1.8%.

CLP Holdings (00002) releases the business performance for the nine months ending September 30, 2025. Hong Kong, China In the first nine months of 2025, China Power Limited Company's (China Power) electricity sales volume decreased by 1.8% year-on-year to 27.456 billion kWh, mainly due to lower average temperatures during the period. Despite this, sales from data centers increased by 6.7%, while electricity sales driven by electrification in the transportation sector continued to grow steadily. Benefiting from the international fuel price decline, the fuel cost adjustment fees paid by customers have decreased by 8.2% since the beginning of 2025 until October. Super Typhoon Hua Jasha hit Hong Kong and southern China in September, and to minimize the impact, China Power made preparations in advance by activating contingency plans and taking preventive measures, including inspecting critical facilities, implementing flood prevention measures, and deploying additional personnel to support customers. During the typhoon, the operations of China Power remained normal. Despite some overhead cables and power equipment being affected by strong winds and fallen trees, the system control center and command team coordinated repair work, and front-line engineering personnel worked round-the-clock to perform emergency repairs, quickly restoring power supply to affected customers. The Group's subsidiary, Power Motion, actively supported customers, including assisting Hong Kong International Airport in strengthening critical infrastructure. China Power China and the nuclear energy team also took preventive measures to ensure the safety and stable operation of all assets directly affected by Hua Jasha. The clean energy transmission line connecting Hong Kong and mainland China is on track to complete a large-scale capacity expansion project at the beginning of next year after several years of planning. This upgrade project will provide China Power with greater flexibility and in the long term, enable the import of more zero-carbon energy to support Hong Kong's decarbonization process. China Power continues to closely collaborate with the government and the electric vehicle charging industry to deploy more fast-charging facilities to meet the growing demand. China Power has actively conducted preliminary power assessments and identified approximately 8,000 suitable locations within the power supply network for the construction of fast-charging stations. In addition, China Power provides tailor-made power solutions, including relatively simple design of small high-voltage outdoor substations and high-voltage distribution boxes, to significantly shorten the time needed for constructing fast-charging stations. China Power Group will fully support and sponsor the 15th National Games, the 12th National Paralympic Games, and the 9th Special Olympics to be jointly organized by Guangdong, Hong Kong, and Macao from November to December this year. China Power implemented grid reinforcement, additional system maintenance, and power quality testing measures to ensure that the competition venues and operational facilities are in the best condition. Through the purchase of renewable energy certificates, the Group supports the use of zero-carbon electricity for all competition venues and operational facilities in Hong Kong. China Power continues to advance its plan to install smart meters for all residential and small business customers in Hong Kong by the end of the year. As of the end of September, approximately 2.84 million smart meters have been installed, covering 96% of customers. The "Community Care Program - Community Care Service Pilot Program" launched in June 2024 is an example of using smart meters to provide digital energy services. The program analyzes the data from participants' smart meters to detect abnormal energy usage and automatically notifies social workers and caregivers when needed to intervene in potential emergencies. The program beneficiaries were expanded in August from elderly people living alone to two elderly households and disabled individuals. China Power signed a memorandum of cooperation with the Vocational Training Council in July to use the "Energy Data Expert" online platform to monitor and manage electricity usage. China Power will also assist the Vocational Training Council in electrifying teaching facilities and training energy management talents to promote sustainable development. In August, China Power signed a memorandum of cooperation with HANG SENG BANK to promote low-carbon and sustainable development in the Hong Kong business community. This collaboration allows enterprise customers under the Sustainable Development Power Up Financing Fund of HANG SENG Bank to choose services such as energy audits and the "Energy Data Expert" online platform of China Power to improve their energy efficiency and reduce carbon emissions, while HANG SENG BANK provides sustainable financing solutions to support customers in transitioning to low-carbon operations. This is the latest cooperation plan between China Power and the banking industry to support enterprises in reducing carbon emissions. In May, Power Motion completed the expansion project of the floating CECEP Solar Energy generation system at the New Territories Sum Ting Wai Pond operated by the Drainage Services Department, increasing the generation capacity from around 37 kW peak to over 350 kW peak. In September, Power Motion signed a memorandum of cooperation with Success Management Services Limited (Success) to further enhance the energy efficiency of properties managed by Success, starting with the Universal Trade Square, the tallest building in West Kowloon. They are exploring comprehensive evaluations and further enhancing the safety and reliability of electrical installations and cooling systems of properties over 20 years old to enhance the climate resilience of the properties. In September, Power Motion entered into a new collaboration with real estate developer HENDERSON LAND to provide cooling solutions for its Ma On Shan MCP Discovery (Phase 3), and Ma On Shan MOSTown (Phase 5) commercial properties, deepening their partnership. This collaboration will help HENDERSON LAND improve the energy efficiency of the cooling systems of the two shopping malls by over 30%. Mainland China Following the slowdown in national electricity demand growth in the first half of the year and a recovery in the third quarter, China Power China's zero-carbon energy assets maintained a robust performance. The power generation at the Yangjiang nuclear power plant in Guangdong province remained stable. The Daya Bay nuclear power plant showed improved performance after successfully completing comprehensive maintenance in 2024. The renewable energy generation slightly increased in the first nine months, primarily due to the commissioning of a total of 336 MW new wind capacity and CECEP Solar Energy capacity this year, as well as increased hydroelectric generation due to higher rainfall. However, a reduction in wind resources led to a decrease in generation from existing wind assets. Electricity grid constraints in North and East China in the first half of 2025 also led to a decrease in wind and CECEP Solar Energy generation in the region. However, with the easing of grid constraints starting in June, the performance improved. The construction and testing of the 50 MW Yixing Phase 2 CECEP Solar Energy photovoltaic project in Jiangsu province, the 100 MW Sandu Phase 2 wind farm in Guizhou province, and the 100 MW/200,000 kWh battery storage system in Guanxian county, Shandong province, are in the final stages. All three projects have been connected to the grid, with full operation expected by the end of the year. Construction of the 300 MW Juancheng Phase 1 wind project in Shandong province, the 231 MW Guanxian wind project, and the 300 MW Hepu CECEP Solar Energy photovoltaic project in Guangxi Zhuang Autonomous Region are progressing smoothly. The construction of the 50 MW Xundian Phase 3 wind farm in Yunnan province and the 106 MW Juancheng Phase 2 wind project in Shandong province is expected to commence later this year. The policy requiring new renewable energy projects to participate in market transactions took effect in June. China Power China continues to expand its renewable energy portfolio with a cautious investment strategy, focusing on regions with high electricity demand, abundant resources, and low grid constraints. Additionally, China Power China will explore opportunities to expand existing projects. During the first nine months of the year, China Power China received a record amount of HK$761 million in national subsidies for renewable energy, reflecting the accelerating trend in subsidy disbursement for the industry. This reduced the outstanding subsidy balance of its subsidiaries to HK$2.466 billion as of the end of September. The performance of China Power China's minority-owned coal-fired investment projects was affected by the increased market competition leading to a decrease in electricity generation. Australia EnergyAustralia's energy business saw profitability growth in the first nine months of the year, with sufficient power generation capacity during peak demand periods. Although wholesale electricity prices remained high, effective energy procurement strategies helped reduce the cost pressure of supplying electricity to contract customers. Planned and unplanned closures of coal-fired power plants increased, offsetting the growth in electricity generation from gas-fired units, resulting in lower overall electricity generation compared to last year. In June, Unit 3 of the Loy Yang Power Station in Victoria experienced a boiler bottom ash hopper duct failure incident and was temporarily shut down for several weeks. Following repairs, the unit restarted normal operation in June and the Loy Yang Power Station has maintained stable operations. The Tallawarra A and Tallawarra B gas-fired power plants in New South Wales, as well as the Newport gas-fired power plant in Victoria, maintained high reliability and availability, enabling EnergyAustralia to meet market demand. EnergyAustralia continues to advance its flexible generation capacity strategy, including the 350 MW/1.4 million kWh Wooreen large-scale battery energy storage system in Victoria. The Wooreen project is expected to be operational by 2027, providing stable generation capacity. In August, EnergyAustralia received support from the Federal Government's Capacity Investment Program for the first phase of their battery energy storage system project near the Mount Piper Power Station in New South Wales. This 250 MW/1 million kWh battery storage system, once operational, will provide up to 4 hours of power to a maximum of 320,000 households and small businesses. In terms of customer business, intense market competition led to a decrease in profitability in the first nine months of the year, with a reduction of 61,000 retail customer accounts, or about 2.6%. The customer churn rate was similar to the market average. EnergyAustralia is committed to providing competitively priced and affordable energy services to attract new customers and retain existing ones amid ongoing market competition. Additionally, EnergyAustralia will continue to support customers facing economic challenges due to cost of living pressures. In August, through a new collaboration with energy distributor Endeavour Energy, EnergyAustralia expanded its community battery program. Customers participating in the program can utilize Endeavour Energy's community battery storage systems developed in New South Wales. In August, Moody's Investors Service upgraded EnergyAustralia's Baa2 credit rating outlook from stable to positive, reflecting Moody's expectation of sustained strong financial and operational performance of EnergyAustralia. Australia announced new emission reduction targets in September, pledging to reduce carbon emissions from 2005 levels by 62% to 70% over the next decade. This policy will help retire coal-fired power plants in Australia and create more development opportunities for zero-carbon energy projects, including renewable energy and battery storage. With the retirement of Jane McAloon, EnergyAustralia has appointed Bob Grant as the new Chairman, effective December 31, 2025. Grant brings over 30 years of experience in senior financial management roles in large publicly listed companies and joined the EnergyAustralia Board in 2020. McAloon will continue to serve as the company's strategic advisor. In addition, Ian Brooksbank assumed the role of Chief Financial Officer in October, having previously held senior positions in other major power companies in Australia. India Apraava Energy's generation and transmission assets continued to operate reliably during the period. The 251 MW Sidhpur Wind Farm in Gujarat state, fully commissioned in January, saw an increase in wind power generation compared to the same period last year. Due to reduced sunlight from early monsoon season, generation from CECEP Solar Energy saw a slight decrease. The interstate transmission projects operated by Kohima-Mariani Transmission Ltd., and the transmission cables operated by Satpura Transco Private Ltd., in Madhya Pradesh, both maintained high availability. In October, Apraava Energy agreed to divest its sole coal asset, the Hagler Power Plant in Haryana state, to Jindal Jhajjar Power Limited, aligning with the company's strategy to focus on developing low-carbon business. The divestment plan is subject to regulatory approvals and other conditions. The Hagler Power Plant operated well in the first nine months of the year. Construction progress is on track for the 250 MW NHPC Bhanipura 1 and 300 MW NTPC Bhanipura 2 CECEP Solar Energy photovoltaic projects in Rajasthan, with both projects scheduled to start operation in 2026 as planned. Additionally, construction continues for the three transmission projects in Rajasthan. The Fatehgarh IV project is expected to be completed this year, with the nearby Fatehgarh III project planned for completion in 2026. The A1 expansion project is also set to be operational by the end of 2026. However, construction progress of the Karera transmission project in Madhya Pradesh was hindered by heavy rainfall in the third quarter. The project is now expected to come into service in the second half of 2026. In addition to ongoing projects, Apraava Energy continues to focus on expanding a robust portfolio of zero-carbon energy projects and actively seek new investment opportunities. In September, Apraava Energy signed a contract for an Advanced Metering Infrastructure (AMI) project, installing over 400,000 smart meters in Puducherry Union Territory. Along with another contract signed in July, Apraava Energy now has a total of eight AMI projects involving the installation of around 7.8 million smart meters across India. As of the end of the third quarter, Apraava Energy has installed over 2 million smart meters. Taiwan and Thailand In Taiwan, one of the generating units at the Heping Power Plant was shut down for several weeks in May due to equipment failure. After repairs, the power plant resumed normal operation in June, maintaining stability in operations. The Lopburi CECEP Solar Energy photovoltaic plant in Thailand continued to operate steadily.