POWER UTILITY | Staff Reporter, Hong Kong

CLP's chairman criticised energy policy uncertainty in Australia

This and market volatility push investors away, he said.

South China Morning Post reported that Michael Kadoorie, the chairman of CLP Holdings, unleashed a rare public expression of discontent towards Australia’s energy sector regulatory environment on Friday, despite the country being the company’s second largest profit source after Hong Kong.

“There is currently considerable market volatility and energy policy uncertainty in Australia,” he told a news conference after its shareholder annual meeting.

The uncertainty made it difficult for investors to make long-term commitments in the sector to meet the demand for reliable, affordable and cleaner energy, he said, adding such commitments often extend up to four decades, due to the long asset life and investment cycle.

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