As we approach the end of 2019, the Hong Kong power utilities publish their electricity tariff adjustment, aka price rises.
For 2020 Hong Kong Electric (HKE) customers will enjoy approx. 5% cost increase and China Light Power (CLP) customers will enjoy around 2.5% cost increase, RTHK reported on 10 Dec 2019.
Fear not, RTHK reports that some Hong Kong Electric corporate customers will be exempt, but that is bad news for the individual customers who will be paying for that corporate windfall.
In this context, we suspect that corporate customers really means their highest electricity users, and automatically reducing the financial incentive to lower their energy consumption and lower costs.
Part of the problem is related to Hong Kong’s energy policy, it only targets lowering carbon intensity which seems fantastic until you know their plan, to importing more electricity from China generated by nuclear power, this policy is short-sighted, it encourages the status quo, keeping the energy-wasting business as usual culture in place, causing energy waste which has reached epidemic proportions in Hong Kong.
Last year we predicted these increasing tariffs, so looking forward we’ll predict and expect the same type of Christmas gift form HKE and CLP next year.