CLP Power's Q1 electricity sales rise 3.7% YoY

The commercial segment held a 40% share in the 7,279 GWh total sales.

CLP Power Hong Kong saw a 3.7% year-on-year increase in electricity sales in the first quarter to reach 7,279 gigawatt-hours (GWh) due to higher demand brought by warmer weather.

In a statement, CLP Power said commercial consumers accounted for the highest share in the total electricity sales at 40%, increasing by 3.7% to 2,915 GWh.

This is followed by the Infrastructure and Public Services segment at 30%, with a 5% increase to 2,183 GWh.

Residential consumers accounted for a 25% share, with the sales to the segment rising 2.8% to 1,841 GWh.

The manufacturing sector held a 5%, with a 1.8% growth to 340 GWh.

“As Hong Kong’s economy continues its recovery from the impacts of the pandemic, CLP Power maintained prudent cost controls and a diversified fuel strategy to ensure customers continue to have access to electricity at a reasonable cost,” the company said.

Some of the measures it implemented include electricity subsidies to underprivileged groups such as elderly people, low-income families, people with disabilities, and tenants of subdivided units. It also rolled out the CLP Retail and Catering Coupons programme to boost local spending.

It also reduced its monthly fuel cost adjustment to 43.9 cents per unit of electricity in May, reducing the average net tariff by 1.7% since January.