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The following is issued on behalf of the Energy Advisory Committee:
Regarding the 2012 tariff review proposals by Hongkong Electric Co Ltd (HEC) and CLP Power Hong Kong Ltd (CLP), the Energy Advisory Committee has expressed reservations about the tariff increase proposal of HEC and opposition to CLP's proposed price increase.
In particular, the Committee expressed regret over CLP's proposed increase despite the huge surplus in its tariff stabilisation fund.
Dr Man Chi-sum, who chaired the Committee meeting yesterday (December 13), remarked that the Committee had learned that the two power companies would receive a government refund of excess rent and rates for the past years following an earlier judgement by the Court of Final Appeal. The Committee urged the two power companies to expediently return to customers the full amount of the refund. He urged the two electric companies, in particular CLP, to consider carefully the impact of a major increase in tariffs on the general public, and to adjust it downwards in a timely manner.
At the meeting yesterday, the Committee discussed the 2012 tariff review proposals by the two power companies and expressed the above views on their proposals.
The Energy Advisory Committee advises the Government on energy policy, including policy matters concerning energy supply and demand, energy conservation and efficiency.
Ends/Wednesday, December 14, 2011
Issued at HKT 17:29
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