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HK remains powerhouse for CLP in first half
HK remains powerhouse for CLP in first half

RTHK

time04-08-2025

  • Business
  • RTHK

HK remains powerhouse for CLP in first half

HK remains powerhouse for CLP in first half CLP chief executive Chiang Tung-keung says the group's overall performance has been affected by challenges outside Hong Kong. Photo courtesy of CLP Power giant CLP has recorded a 7.3 percent increase in its Hong Kong energy business in the first half of this year. According to the power supplier, earnings for its Hong Kong energy business reached nearly HK$4.47 billion, compared with HK$4.16 billion recorded in the same period of last year. However, the company saw an 8 percent drop, before fair value movement, in its total operating earnings, which stood at HK$5.22 billion. Chief executive Chiang Tung-keung said the company's overall performance was affected by challenges in the mainland and Australian markets. The group's mainland business dropped by nearly 12 percent to HK$870 million due to lower nuclear and renewable energy earnings. In Australia, the group saw an almost 73 percent plunge in business due to a competitive retail landscape that lowered revenue at its subsidiary EnergyAustralia. 'Because of the intense competition, the margin has been squeezed,' Chiang said. CLP, he added, is taking a number of steps to improve the situation and increase competitiveness in the retail business. 'The new default price has been published, which we see there is an increase," Chiang said. "Together, we are going to recontract with some of our customers, so we do see our margin going forward will improve. 'Secondly, we are also embarking on a cost optimisation exercise so as to further optimise our cost to improve our performance.' Chiang said the company's board has declared a second interim dividend of HK$0.63 per share, unchanged from 2024.

HK remains powerhouse for CLP in first half
HK remains powerhouse for CLP in first half

RTHK

time04-08-2025

  • Business
  • RTHK

HK remains powerhouse for CLP in first half

HK remains powerhouse for CLP in first half CLP chief executive Chiang Tung-keung says the group's overall performance has been affected by challenges outside Hong Kong. Photo courtesy of CLP Power giant CLP has recorded a 7.3 percent increase in its Hong Kong energy business in the first half of this year. According to the power supplier, earnings for its Hong Kong energy business reached nearly HK$4.47 billion, compared with HK$4.16 billion recorded in the same period of last year. However, the company saw an 8 percent drop, before fair value movement, in its total operating earnings, which stood at HK$5.22 billion. Chief executive Chiang Tung-keung said the company's overall performance was affected by challenges in the mainland and Australian markets. The group's mainland business dropped by nearly 12 percent to HK$870 million due to lower nuclear and renewable energy earnings. In Australia, the group saw an almost 73 percent plunge in business due to a competitive retail landscape that lowered revenue at its subsidiary EnergyAustralia. 'Because of the intense competition, the margin has been squeezed,' Chiang said. CLP, he added, is taking a number of steps to improve the situation and increase competitiveness in the retail business. 'The new default price has been published, which we see there is an increase," Chiang said. "Together, we are going to recontract with some of our customers, so we do see our margin going forward will improve. 'Secondly, we are also embarking on a cost optimisation exercise so as to further optimise our cost to improve our performance.' Chiang said the company's board has declared a second interim dividend of HK$0.63 per share, unchanged from 2024.

2,000 people left without power in Hong Kong after water leak in building
2,000 people left without power in Hong Kong after water leak in building

South China Morning Post

time26-07-2025

  • General
  • South China Morning Post

2,000 people left without power in Hong Kong after water leak in building

About 2,000 people, including residents in three care homes for the elderly, were left without electricity on Saturday evening after a water leak in a Hong Kong complex prompted the power provider to suspend the supply. Advertisement Utility firm CLP Power said the electrical systems in I-Feng Mansions in To Kwa Wan were suspected to have been affected by water leakage, causing problems with the electricity supply to parts of the residential complex. 'Under the instruction of firefighters, CLP Power suspended the electricity supply to the premises at around 6.15pm so that the building's electricians could conduct further investigation and repairs,' a company spokesman said. The firm said about 900 clients, including three homes for the elderly, had been affected by the move, with the government estimating 2,000 residents in 800 households were hit. It added that the building's electricians had arrived to carry out emergency repairs with backup support from CLP Power engineering staff. Water leakage is suspected to have affected the complex's electrical systems. Photo: Google Maps The company said that its community support team was working with the Home Affairs Department, district councillors and community care teams to provide affected residents with lights and portable batteries.

Hongkongers using CLP Power to pay less due to cheaper global fuel
Hongkongers using CLP Power to pay less due to cheaper global fuel

South China Morning Post

time19-05-2025

  • Business
  • South China Morning Post

Hongkongers using CLP Power to pay less due to cheaper global fuel

Consumers of CLP Power , Hong Kong's biggest electricity provider, will pay lower bills thanks to a decline in global fuel prices in recent months. Releasing its quarterly results on Monday, the company said monthly fuel costs for consumers dropped to 44.4 HK cents (5.7 US cents) per unit of electricity this month, 'resulting in a 1.3 per cent drop in the average net tariff' from the beginning of the year. The power firm also reported a 2.6 per cent fall in electricity sales in the first three months of the year as the milder weather reduced demand. In November of last year, the company announced it would increase its basic tariff from January by 1.44 per cent to 98 HK cents per kilowatt-hour and keep its fuel charge unchanged at 46.3 HK cents per kWh, resulting in an overall increase of 0.98 per cent. 'CLP Power continued to exercise prudent cost controls to ensure reasonably priced energy, while offering additional support available to further relieve the burden on customers in need,' it said. The company serves more than 2.8 million customer accounts in Kowloon, the New Territories and the outlying islands.

CLP brings buzz with new round of consumption coupons
CLP brings buzz with new round of consumption coupons

RTHK

time25-04-2025

  • Business
  • RTHK

CLP brings buzz with new round of consumption coupons

CLP brings buzz with new round of consumption coupons The coupons can be used at more than 3,800 retail and catering outlets. Photo: RTHK CLP Power said on Friday it is handing out retail and catering coupons as part of its latest effort to stimulate local consumption and boost the economy. The power giant will distribute coupons worth HK$100 to 580,000 households with low levels of electricity consumption and elderly who qualify for concessionary tariffs. The coupons can be used before the end of October at more than 3,800 retail and catering outlets, including about 60 social enterprises. Director of customer success and sales Anthony Lo said this latest round of coupon handouts marks the fourth year that CLP has been engaging in the practice. "We saw the response was very good [in past years]," he said. "The participating merchants were quite enthusiastic, so we hope to continue to hand out vouchers. "We hope this can help the retail and catering sector, stimulate local consumption and boost the economy with a multiplier effect." A social enterprise, The Edible Projects, said more customers had visited its restaurant in Sham Shui Po as a result of the scheme. Its founder, Kitty Poon, said the restaurant hires young people with autistic spectrum disorders. "Our young people have more chances to serve customers," she said. "They are very happy with there being more customers, giving them a sense of accomplishment." A family-run traditional bakery in Sham Shui Po, Kwan Hong Bakery, is another participating outlet. Its operator, Charles Ng, said that, based on his past experience, the coupons can help boost business by 10 percent. "The market is quite sluggish," he said. "People tend to consume outside of Hong Kong. "If they use a HK$50 coupon, they may spend another HK$50 on their own. "This definitely helps and can get people to stay and consume in Hong Kong." CLP said it is handing out the vouchers from this month and that all eligible households are expected to receive them by the end of May.

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