The Legislative Council Panel on Environmental Affairs conducted an annual tariff review on the two power companies. Secretary for Environment and Ecology, Tse Chin-wan, said that the average net tariff incline of CLP Power/ Hongkong Electric would be less than 1% from 1 January 2025.

Tse emphasized that the tariff increases have been monitored, and the authorities have also tightly controlled and scrutinized the capital expenditures of the two power companies to avoid excessive impact on tariffs.

From 1 January 2025, CLP Power's basic tariff will be $98 cents per unit of electricity, up $1.4 cents from 2024, while the Fuel Cost Adjustment will remain unchanged YoY at $46.3 cents per unit of electricity. After adjustments, the average net tariff will be $144.3 cents per unit of electricity, up 0.98% YoY.

Hongkong Electric's basic tariff will increase by $3.4 cents per unit of electricity to $122.9 cents per unit of electricity in January 2025. In light of the current situation of the fuel market, the Fuel Clause Charge will decrease by $1.9 cents, resulting in an average net tariff of $167 cents per unit of electricity, up $1.5 cents or 0.9% YoY.