HK Electric raises fuel charge by nearly 34% and further increases expected

AI Summary

HK Electric announced a nearly 34% increase in its fuel charge amid rising global fuel prices influenced by the Middle East conflict. The company, serving Hong Kong Island and Lamma Island, anticipates further increases.

HK Electric has announced a nearly 34 per cent rise in its fuel charge, after a double-digit increase last month, as the war in the Middle East contributed to a “significant rise” in global fuel prices. The utility, which mainly serves Hong Kong Island and Lamma Island, also warned on Thursday that the charge was expected to continue rising. HK Electric announced it would adjust its fuel charge for July to 41.9 HK cents (5.3 US cents) per unit of electricity, up from 31.3 HK cents in June, an...