Hongkong Electric announced on April 24 that its fuel cost adjustment for May will be reduced to 26 cents per unit of electricity, down 4.4 cents from April. Including the basic tariff, the average net electricity charge for May will be 153.9 cents per unit.
A spokesperson said the fuel cost adjustment operates on a monthly mechanism with a lagging effect, meaning the current charges do not yet fully reflect the recent sharp surge in international oil and natural gas prices driven by heightened tensions in the Middle East.
The spokesperson also stressed that following the outbreak of conflict in the region, the impact of rising fuel procurement costs is unavoidable. These increased costs are expected to be gradually reflected in the fuel cost adjustment starting from mid-year, at which point the charges are likely to see a noticeable increase.
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