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Written by: Golden Chess
2020-11-09 18:00
Last update date: 2020-11-09 18:00
The new type of coronavirus pneumonia has severely hit the economy, and the public may have to face the increase in the tariffs of the two power companies next year, which may be even more difficult.
According to the forecast by the CLP and the HEC at the end of last year, the electricity bills of the two companies will increase by 8.9% next year.
Only the Environmental Group expects that fuel costs are expected to be lower than predicted due to the plummeting oil prices; together with the electricity tariff stabilization fund of the two power companies and the “money savings” in the fuel account, the increase in basic electricity tariffs can be offset, so there is room to freeze electricity tariffs.
Even if there is a chance to freeze electricity tariffs next year, the electricity tariffs paid by residential users may still rebound.
The reason is that the government has issued a subsidy of 2,000 yuan in electricity bills for one year from January this year to the end of December, leaving only a monthly electricity bill of 50 yuan for next year.
The Economic Development Panel of the Legislative Council held a special meeting on Tuesday (10th) to discuss the annual electricity tariff review of the two power companies.
The electricity tariff paid by local electricity users consists of two main parts, namely the basic electricity tariff and the fuel price clause charge, and the sum of the two is the net electricity tariff.
The basic electricity fee covers the operating expenses, basic fuel costs and profits of the power company; while the fuel fee reflects the changes in fuel prices and is paid by the user to the power company in the form of reimbursement.
According to the forecast in the five-year development plan announced by the two power companies in 2018, CLP’s net tariff will increase from RMB 1.218 per kilowatt-hour of electricity this year to RMB 1.327; while the HEC is expected to increase from RMB 1.264 per kilowatt-hour to RMB 1.377. The increase in electricity was also 8.9%.
Among them, it is predicted that basic electricity and fuel costs will also increase. CLP and HEC also estimate that fuel costs for next year will increase by 17.5% and 10.9% respectively from this year.
At the meeting of the Economic Development Committee on Tuesday, the two power companies announced the results of next year's electricity tariff review.
(Profile picture)
Yu Yuancheng, chief executive of the World Green Organization, pointed out that because investments such as offshore liquefied natural gas terminals must be accounted for, basic electricity bills are under pressure to increase prices.
He hopes that the two power companies can make special treatment for the investment in the account, "the epidemic will be reduced first, and the adjustment will be made when it is stable."
As for fuel costs, Yu believes that oil prices have plummeted and natural gas prices are far lower than the two power companies expected.
In addition, the electricity tariff stabilization fund and fuel account of the two power companies also "save money". According to the interim report of the two power companies, as of June 30 this year, the fuel accounts of CLP and HEC were 467 million and 696 million yuan respectively; and electricity tariffs were stable. Funds have balances of 1.48 billion and 1.07 billion respectively.
Therefore, I estimate that the two power companies have the space and ability to freeze electricity tariffs and use the two funds to offset the increase in basic electricity tariffs.
Yu Yuancheng believes that there is room for the two power companies to freeze electricity charges.
(Profile picture / Photo by Liang Pengwei)
However, starting next year, the government has issued a total of 2,000 yuan in electricity subsidies to residential users from January this year to December 31 this year, and the unused amount can be used to pay the electricity bills for the same account.
That is, starting from next year, residential users will only receive a monthly electricity bill relief of 50 yuan, for a total of 3,000 yuan.
Based on a typical three-person household using 275 kilowatt-hours of electricity per month, if it is a CLP customer, the monthly electricity bill is about 308 yuan. After deducting the electricity subsidy, it is expected to pay about 18 yuan in December this year.
Even if the electricity bill is frozen next year, the family is expected to have to pay 258 yuan in electricity bill next year due to the end of one of the electricity fee subsidies.
As for the HEC households, the monthly electricity bill is about 208 yuan. After deducting the electricity fee subsidy, there is no electricity bill in December this year, but next year, it is expected to pay 158 yuan.
Electricity tariff adjustment was announced on November 10, citing news: CLP’s frozen tariff and HK Electric are still under discussion
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[Electricity subsidy] A total of 2,000 yuan will be paid to residential users for a period of one year starting from New Year's Day
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CLP and Hongkong Electric Environment Bureau
