, Hong Kong

CLP gets go-ahead to build a new gas-fired unit in Hong Kong

The 550MW unit will be built in 2-3 years.

CLP receiving government approval today to build a new gas-fired unit in HK is positive while its HK tariff freeze in HK in 2017 is in line, according to Citi, with the offer of one-off HK$0.023/kWh rebate in 1Q17 from tariff stabilization fund with no profit impact.

"CLP’s fuel mix in HK from NG would be lifted from 25% in 2015 to 50% in 2020E; by adding the newly approved 550MW gas-fired unit to be built in 2-3 years at HK$5.5bn at its Black Point power plant, of which HK$3.6bn will be incurred in the current Scheme of Control period until 30 Sep 2018. This will add to its tariff by HK$0.02/kWh (1.8%) in 2017E and HK$0.04/kWh (3.5%) in 2018E," adds Citi.

Join Hong Kong Business community
Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

Top News

Gov’t deficit hits $183b 
The government took into account the proceeds of $20b received from the issuance of green bonds.   The government recorded a deficit of $183b in the first five months of the current financial year, taking into account the proceeds of $20b received from the issuance of green bonds.   There was a deficit because some major types of revenue like salaries and profits taxes are received towards the end of a financial year.    In the first five months, government expenditure was $319.2b, whilst revenue was $116.2b.
Economy