HK Electric customers are set to fork out more for their energy bills next month after the Hong Kong firm announced a 20.4 per cent rise in its fuel surcharge as the ongoing war in the Middle East contributed to volatile oil prices.
The energy provider, which mainly serves Hong Kong Island and Lamma Island, also warned that the fuel surcharge was expected to continue going up “in the coming months”.
In a statement on Friday, HK Electric announced it would adjust its “fuel clause charge” for June to 31.3 HK cents per unit of electricity, up from 26 HK cents in May. The latest figure represents an increase of 20.4 per cent.
“The adjustment begins to reflect the significant rise in international fuel prices arising from the Middle East conflict. However, due to the ‘deferred effect’, the current level has yet to fully capture the changes in fuel costs,” the company said.
“The [fuel surcharge] is expected to continue to increase in the coming months.”
HK Electric’s “net tariff”, which refers to the total price paid by consumers, is generally calculated by combining the “basic tariff” and the fuel clause charge.
The fuel clause charge is revised automatically on a monthly basis to take into account the average actual fuel costs over the preceding three months.
