The fifth wave of the epidemic has hit all industries hard. Even if you stay at home to fight the epidemic, you may not escape the pain of increasing electricity bills.
Since January this year, the two power companies will increase their prices by 5.8% and 7% respectively. As for the monthly adjustment of fuel costs by means of actual reimbursement from March, CLP will increase the price by about 2.8%, and HK Electric will increase the price by 26%, a new high in ten years.
Assuming that a three-person household consumes 275 kWh of electricity per month, the electricity bill for CLP users in March is estimated to be 3 yuan more expensive than that at the beginning of the year, and that for HK Electric users is about 20 yuan more expensive.
According to the analysis of the group, due to the impact of the epidemic and the Russian-Ukrainian war, it is expected that the price of natural gas or coal will continue to rise for at least 3 to 6 months.
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The two electricity companies have increased their tariffs this year, with a net tariff increase ranging from 5.8% to 7%. CLP’s charges per kilowatt-hour have increased to 128.9 cents, and HK Electric has increased to 135.3 cents. They also admitted to bear a large negative balance in the fuel price adjustment clause ( That is, the two electricity charges are paid in advance), and the electricity rate stabilization fund is used to offset part of the price increase pressure, otherwise the increase may be even more alarming.
CLP HK Electric will increase fuel adjustment fees by 2.8% and 26% respectively next month
However, the electricity tariff will increase further from next month, because the electricity tariff is composed of the basic electricity tariff and the fuel price terms. According to the current "Control Agreement" mechanism, the annual fuel adjustment fee announced by the electricity tariff review is only guaranteed to remain unchanged for the first two months of this year. Subsequent monthly fuel charges are calculated based on the average of actual fuel prices over the past three months, which will fluctuate with market conditions.
According to the public information of the two power companies, the fuel adjustment fee will be increased by 2.8% and 26% respectively next month, and the electricity fee will hit a new high in ten years.
Electricity tariff increase in March: CLP +0.9%, HK Electric +5.3%
The annual fuel adjustment fee for CLP customers was 38.6 sen, but it started to increase to 39.7 sen in March.
CLP explained that the fuel cost per kilowatt-hour of electricity involved in burning coal was 1.3 cents higher than the forecast, but thanks to the natural gas price that was 0.2 cents lower than expected, the fuel cost for the month was adjusted to 1.1 cents per kilowatt-hour. The net electricity bill is 130 sen, which affects less than 1% of the net electricity bill.
As for HK Electric users, the annual fuel adjustment fee was 27.3 sen, but it soared to 34.5 sen in March, and the net electricity fee per kWh in disguised form increased to 142.5 sen, an increase of 5.3%.
Compared with last year's net electricity tariff of 126.4 cents per kilowatt-hour of electricity from HK Electric, the cumulative price increase is 12.7%, which is much higher than that of CLP.
Taking a three-person household (with an average monthly electricity consumption of 275 kWh) as an estimate, the electricity bill in January last year was 250.58 yuan, but in January this year it increased to 275.06 yuan, an increase of 9.8%, and in March, it was added to 294.86 yuan, then again 7.2% markup.
However, the public benefited from two electricity bill subsidies and relief schemes, including a monthly subsidy of $80 for the first 11 months and a monthly subsidy of $120 for the 12th month for residential users since June last year; The monthly electricity subsidy of 50 yuan for 60 months will be subsidized to 130 yuan in total. The new Budget also announced that another 1,000 yuan of electricity subsidy will be provided to residential users. Therefore, the public may not feel strongly about the increase in electricity tariffs.
Yu Yuancheng predicts that whether it is natural gas or coal, prices will continue to rise for at least 3 to 6 months.
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The group predicts that fuel prices will continue to rise in the short term: the Russian-Ukrainian war adds unknowns
Yu Yuancheng, CEO of the World Green Organization, analyzed that the increase in fuel adjustment fees reflected at this stage is expected to be mainly due to the increase in coal prices. This is because Indonesia, a major coal mining country in the world at the beginning of this year, was worried about the lack of domestic power supply. The suspension of coal exports has tightened coal supply and sent international coal prices soaring.
In addition, he pointed out that due to the impact of the epidemic, economic activities have slowed down, citizens have reduced their going out, and the Organization of Petroleum Exporting Countries and its allies (OPEC+) have taken a wait-and-see attitude towards increasing production. With the recent economic recovery, the demand for energy has increased, and fuel prices have naturally risen.
Regarding the substantial increase in the fuel adjustment fee of HK Electric, Yu Yuancheng pointed out that its users and purchase volume are both less than those of CLP, and the purchase price of natural energy is not as cheap as that of the other party, and the percentage increase will be more obvious. Even if the increase in OPEC+ production will slow down the increase, but Russia The Ukrainian war adds to the unknown. It is expected that whether it is natural gas or coal, prices will continue to rise for at least 3 to 6 months.
The offshore LNG terminal under construction by the two power companies is expected to be put into operation this year. He believes that after completion, there will be an opportunity to purchase "flat and far" LNG, which will help mitigate the impact of the international market.
▼The ban on dine-in in the evening market has been extended to April 20▼
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