Customers of HK Electric now face higher energy bills after gas supplies from Qatar were cut off. CEO Francis Cheng Cho-ying said Sunday that since March,not a drop of gas has arrived from Qatar due to Iranian strikes on key production facilities. These facilities were vital for powering Lamma Island plant.
Without that supply, HK Electric turned to spot market for gas . Prices shot up. Cheng warned of the situation's severity,saying,“The impact has been very serious.” He noted that without stable gas, electricity generation costs could climb even more for Hong Kong.
To cope,HK Electric hiked fuel surcharges for July by 33.9%,pushing rates to 41.9 HK cents per unit,up from 31.3 HK cents in June. And more tariff hikes could be coming, as company grapples with delayed effects of soaring fuel prices .
Middle East conflict keeps shaking up energy supplies. Where does that leave Hong Kong's electricity pricing? Unclear…
