HK Electric (02638) lowers October fuel adjustment charge by 0.8% to 59.3 HK cents per unit.

On September 25, HK Electric (02638) announced that the fuel adjustment charge for October will be 59.3 HK cents per unit, down 1.4 HK cents from September. Together with the basic tariff, the average net electricity rate for October will be 187.2 HK cents per unit, a decrease of 0.8% from September. A spokesperson for HK Electric said that due to the "deferred effect" of the month-on-month adjustment mechanism for the fuel adjustment charge, the October fuel adjustment charge mainly reflects fuel costs during the period from June to August this year. The spokesperson stressed that international energy market prices remain volatile, and the future level of the fuel adjustment charge will still depend on international fuel price trends. HK Electric will continue to closely monitor developments in the international energy market and, through prudent procurement strategies and timely adjustments to its fuel mix, strive to minimize the impact of fuel price fluctuations on customers while fully ensuring a stable fuel supply and complying with emission caps. From August to October, HK Electric is providing a "special electricity fee subsidy" of 8 HK cents per unit to residential customers consuming 450 units or less per month, in order to alleviate the impact of rising electricity bills on residential customers. As for CLP, its fuel adjustment charge for October is 46.2 HK cents per unit, up 1.1 HK cents from September. Together with the basic tariff, the average net electricity rate for October is 147.4 HK cents per unit.