Hong Kong Electric has announced that the fuel surcharge for November will be reduced to HKD 0.489 per kilowatt-hour, a monthly decrease of 10.8%.

Hong Kong Electric (02638.HK) spokesperson stated that the fuel surcharge for November will be reduced to HKD 0.489 per kilowatt-hour, a decrease of 10.8% compared to HKD 0.548 per kilowatt-hour in October. This marks the sixth consecutive monthly reduction since June this year. The average net electricity tariff for November will be reduced to HKD 1.634 per kilowatt-hour, a 17.1% decrease compared to HKD 1.97 per kilowatt-hour in January. Taking a three-person residential customer with a monthly electricity consumption of 275 kilowatt-hours as an example, after deducting government subsidies and Hong Kong Electric's special electricity subsidy, their net electricity bill for November will be HKD 196.2, a decrease of HKD 92.4 or 32% compared to HKD 288.6 in January. From January to September this year, benefiting from the reduction in fuel surcharges and various subsidies, Hong Kong Electric has issued over 690,000 "zero" electricity bills to residential customers, which means customers do not need to pay electricity bills for that month, accounting for about 16% of all residential customer bills. The spokesperson pointed out that due to recent geopolitical influences, oil prices have become more volatile. Hong Kong Electric will continue to prudently determine the fuel surcharge based on the actual cost of fuel, following the mechanism of reporting and selling at cost. (ha/da)