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HK Energy Advisory Committee: Fuel Supply of 2 Power Firms Unaffected by Mideast Woe; Electricity Tariffs Expected to Adjust Gradually from Jun
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In light of ongoing conflicts in the Middle East, which have given rise to increases in international oil and natural gas prices, paired with the monthly adjusted fuel adjustment fee in the electricity bills of Hong Kong's two power companies according to international fuel prices, local electricity tariff hikes are expected to begin in June, Simon Wong, Chairman of Energy Advisory Committee, stated in an interview with now News. While an increase is anticipated to begin in June, it will not be an abrupt 50% spike, he assured, and that instead, the increase is expected to be gradual. If the conflict and price hikes persist, further increases may occur after three more months. However, even if prices skyrocket, he doubted it will actually soar by tens of percent along with natural gas prices. He noted that if the increase is too substantial, the two power companies have a buffer mechanism to spread out the increase, gradually reflecting it in future electricity bills. AASTOCKS Financial News Website: www.aastocks.com |
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