Transcript of remarks by SEN

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Following is the transcript of remarks by the Secretary for the Environment, Mr Wong Kam-sing, on the annual tariff reviews with the two power companies after attending the meeting of the Legislative Council Panel on Economic Development today (December 12):

Reporter: Many lawmakers expressed worries that there may be a substantial tariff increase by 2020. What will the Government do about it?

Secretary for the Environment: It is not only raised by the lawmakers but also by the Government. As I said earlier that Hong Kong is in a state of transformation, having cleaner fuel, in particular natural gas for power generation. So there will be more new plants and using more natural gas for power generation. These will give pressure on the tariff. But as I said earlier that the new scheme of control (the New Scheme of Control Agreements with the two power companies) has fixed the profit rate (the permitted rate of return) and reduced it from 9.99 per cent to 8 per cent. This will help to (strike a) balance on the overall situation.

(Please also refer to the Chinese portion of the transcript.)

Ends/Tuesday, December 12, 2017
Issued at HKT 19:22

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