Higher electricity tariffs are inevitable amid Ukraine crisis and Covid impact

Hong Kongers will face higher electricity bills next year as the Office of Environment and Ecology says higher electricity prices will be inevitable due to the war in Ukraine and the coronavirus.

This came as the office is set to conduct an annual rate review with the territory’s two power companies.

The bureau noted that the war in Ukraine and the coronavirus will inevitably put upward pressure on fuel prices over the next two years, and that an increase in electricity tariffs next year will be inevitable.

Meanwhile, lawmaker Chan Siu-hung, also a senior adviser to CLP Power’s parent company, CLP Holdings, said the possible increase was due to the war in Ukraine causing further increases in energy prices.

Hong Kong’s plan to achieve carbon neutrality – with the city requiring cleaner energy – is also expected to raise the city’s electricity tariff next year, Chan said.

The lawmaker called on the SAR government to harness the resources of the Greater Bay Area and work with nearby cities to address these energy-related challenges.

He also noted that the government should review the city’s roadmap on popularizing electric vehicles and unveil plans to respond to the development of new energy vehicles.

Christi C. Elwood