CLP Holdings (00002) and Hong Kong Electric (02638) will respectively decrease their average net electricity charges by 2.6% and 2.2% next year.

CLP Holdings (00002) announced the electricity tariff adjustment plan for China Power and Hong Kong Electric (02638) in 2026. China Power and Hong Kong Electric will decrease their average net electricity tariffs by 2.6% and 2.2% respectively next year. China Power stated that it will decrease its electricity prices by 2.6% starting from January 1, 2026. The average net electricity price in 2026 will be 140.6 cents per kilowatt-hour, a decrease of 3.7 cents per kilowatt-hour from 2025. Due to the stabilization of international fuel prices, the fuel adjustment fee will be decreased by 6.9 cents to 39.4 cents per kilowatt-hour; faced with rising operating costs, the average basic electricity price will be increased to 101.2 cents per kilowatt-hour. The CEO of China Power, Roger Jiajin, expressed hope that this price reduction will alleviate the living expenses of citizens and operating costs of small and medium-sized enterprises. Through the "CLP Community Energy Conservation Fund" grant of 270 million Hong Kong dollars, it will comprehensively promote energy conservation and carbon reduction in society, support disadvantaged communities, and inject more momentum into the Hong Kong economy. Although geopolitical uncertainties continue to impact fuel prices, China Power will continue to control fuel costs through a diverse fuel mix, prudent financial management, and the use of innovative technologies to enhance operational efficiency, continuing to provide reliable, environmentally-friendly, and reasonably priced electricity services. China Power will allocate 60 million Hong Kong dollars for the fifth round of the CLP Consumption Voucher Program, providing 100 Hong Kong dollars in vouchers to around 600,000 eligible households to support the food and retail industries and stimulate economic growth in Hong Kong. Hong Kong Electric stated that due to investments in upgrading and strengthening power infrastructure, as well as rising operating costs, the basic electricity tariff in 2026 will be 127.9 cents per kilowatt-hour, an increase of 5 cents from 2025. In terms of fuel costs, depending on the fuel market situation, the fuel adjustment fee in January next year will be 35.4 cents per kilowatt-hour, a decrease of 8.7 cents from 44.1 cents in January this year. Therefore, the average net electricity tariff in January 2026 will be 163.3 cents per kilowatt-hour, a decrease of 2.2% from January 2025. For example, for a residential customer using 275 kilowatt-hours per month, the electricity bill in January next year will be 352.1 Hong Kong dollars, a saving of 10.1 Hong Kong dollars compared to January this year. The Managing Director of Hong Kong Electric, Kenneth Chui, stated that Hong Kong Electric continues to update equipment that has reached or exceeded its design lifespan or useful life in a cautious manner based on asset depreciation cycles or the actual condition of the equipment, including aging power generation units and transmission and distribution equipment. While maintaining stable and reliable power supply, unnecessary capital investments are avoided. To address the increasing network security threats, Hong Kong Electric also needs to enhance its information technology systems to defend against attacks. Hong Kong Electric fully supports the government's environmental policies, building natural gas power generation units and promoting the transition from coal to gas to improve emissions. The construction progress of the Xinjiang Xintai Natural Gas Power Generation Unit L13 project is on track, and it is expected to be commissioned as planned in 2029. Chui emphasized that while these capital investments will inevitably put pressure on electricity tariffs, next year's basic electricity tariff will need to be increased due to the above reasons and rising operating costs. However, due to the relatively stable fuel prices at the moment, the fuel adjustment fee in January next year will be decreased, allowing Hong Kong Electric's net electricity tariffs to decrease compared to January this year.