HK Electric Investments is the first fixed single investment trust listed in Hong Kong with a focus on the power industry. Our principal operating subsidiary, The Hongkong Electric Company, Limited (HK Electric), commenced operations in 1890 and is one of the longest-established utility companies in the world.
Over our long history, we have consistently supported Hong Kong's economic journey by offering safe, reliable and affordable electricity while minimising the impact of our operations on the environment as we strive to deliver sustainable growth in long-term value to our investors.
HK Electric Investments believes that open and on-going communication with our stakeholders is central to our operation and development. We engage different stakeholders through a variety of channels and stakeholder suggestions and feedback are highly valued in our decision making process as we strive for continuous improvements.
Underpinned by its core value of "Pursuit of Excellence", HK Electric is committed to delivering excellent services and supply reliability to our customers. We have been providing a world-class supply reliability of over 99.999% since 1997 and all our service standards are achieved or even surpassed every year.
To satisfy the aspirations from the community, and in support of Government’s energy and environmental policy objectives, HK Electric has launched a suite of "Smart Power Services".
HK Electric is one of the longest-established power companies in the world. The Company has a world-class record of providing a highly reliable electricity supply to Hong Kong and Lamma islands at a reasonable and affordable price.
HK Electric Investments is committed to meeting the long-term energy needs and supporting the sustainable development of the community we serve. To do this, we focus not only on powering Hong Kong with a world-class electricity supply, but also on the way we deliver it and the impacts it has on the environment.
HK Electric aspires to be an employer of choice. We have policies and systems in place to attract talents and through continuous training and development, nurture them for a fulfilling career. We offer competitive remuneration, an ideal workplace and comprehensive wellness programmes for our employees while maintaining regular and open dialogues with them.
HK Electric will be setting up an energy efficiency fund to provide subsidies on a matching basis to owners of old residential blocks to carry out energy improvement projects in public areas of the buildings. The decision follows the conclusion of the Mid-term Review on the Scheme of Control Agreement (SCA) between HK Electric and the government.
HK Electric Managing Director, Mr. Wan Chi-tin told a meeting of the Legislative Council's Economic Development Panel today that the company will inject into the fund the financial incentive payments it receives for out-performing stipulated targets on a yearly basis, with priority to be given to stand-alone buildings in poor conditions where owners may not be able to afford the improvement works.
"We will start working out the details now so that the programme could be launched as soon as possible to assist owners save energy and electricity expenses. While we will not underestimate the difficulties involved in the implementation, we look forward to discussing with government and green groups on ways to kick start the programme," he said.
Mr. Wan maintained that HK Electric had all along taken a pragmatic and co-operative approach in conducting this serious and vigorous review with government. Ways to improve the operation of the SCA were identified, with a focus on enhancing energy efficiency and conservation.
Mr. Wan stressed that the SCA has been working well and no significant changes should be introduced at this stage as they may undermine the integrity, certainty and stability of the regulatory framework.
"As a result of our stringent control over costs, we have maintained the basic tariff level over the past five years at a stable level, a mere increase of 0.2%. Compared with the inflation rate of 13% during this period, it is a very low increase," he noted.
In fact, HK Electric has various measures in place to help those in need, including concessionary tariff schemes for the elderly, single-parent families, unemployed and disabled people. Eligible applicants will enjoy a 60% discount on tariffs for the first 200 units of electricity each month, with deposit waived. When taking into account the government's electricity subsidy scheme, about 4,000 domestic households are not required to pay tariff this year.
Mr. Wan said, "We share the community's concern about the affordability of the low income group and have tried to minimise the impact on them when setting out the tariff level. A special 'super saver discount' has also been introduced this year to provide a 5% discount for those who use fewer than 100 units in any month. In fact, about half of our domestic customers who use fewer than 300 units of electricity a month, the electricity tariffs they pay this year are actually lower than the 2008 levels.
As the current SCA will expire in end 2018, Mr Wan pledged that in the upcoming five years, HK Electric will remain committed to providing a safe and reliable electricity supply to customers with a continuing focus on greener energy. The Company looks forward to continuing to work closely with government in meeting its policy objectives.