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HK Electric 2012 Tariff Review

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HK Electric 2012 Tariff Review

16 Dec 2011

In response to media enquiries on HK Electric's 2012 tariff review, a spokesman for HK Electric said that the Company decided to lower the rate of the tariff increase from nearly 8% as originally proposed to the current 6.3% following discussions with the Government before the Legislative Council's Economic Development Panel meeting on 13 December (Tuesday). This was made possible by further increasing the negative balance in the Fuel Clause Recovery Account.

The spokesman explained that about 90% of the 7.8 cent increase per unit of electricity for 2012 would go in meeting higher fuel prices. "With a view to containing the impact of the tariff adjustment on the public as well as small and medium-sized enterprises, while also encouraging energy conservation, HK Electric will further enhance the current tariff structure where customers using more electricity are charged higher tariffs at a progressive rate," he said.

The spokesman said, after a detailed analysis, the Company will lower the tariff adjustment for its domestic customers. Those using 150 units or less a month (the lowest consumption band) will have their tariff increased by 2.64%, or $3.6 or less a month. Following this enhancement, 90% of HK Electric's domestic customers (using 900 units of electricity or less a month) will have their tariffs increased by 4.97 % or less, lower than the local inflation rate. (See Table 1)

To achieve this, the Company will reduce the basic tariff for all domestic customers on the first 500 units of electricity consumed, where the reduction for the first 150 units is as much as 4.4 cents per unit.

The enhanced tariff structure will also ease the burden for the majority of the Company's non-domestic customers as about 70% (using 1,700 units or less a month) will have their tariffs increased by 6.08% or less ($129.5 or below more a month), as compared with the 6.3% increase on average. (See Table 2)

Table 1

Tariff Adjustment for Domestic Customers

Consumption per month

(Units)

Percentage of Customers

(Cumulative)

(%)

Net Charge 2011

Net Charge 2012

Adjustment

Increase

(%)

150

19%

136.35

139.95

+3.6

2.64%

300

47%

288.15

291.15

+9

3.12%

500

70%

510.55

529.75

+19.2

3.76%

900

90%

1,070.75

1,123.95

+53.2

4.97%

Table 2

Tariff Adjustment for Commercial Customers

Consumption per month

(Units)

Percentage of Customers

(Cumulative)

(%)

Net Charge 2011

Net Charge 2012

Adjustment

Increase

(%)

200

27%

248.2

263.2

+15

6.04%

700

51%

868.7

921.2

+52.5

6.04%

1,700

70%

2,128.7

2,258.2

+129.5

6.08%