Good News! Reduce Electricity Tariff By 3%!

[R4g3]

Good News! Reduce Electricity Tariff By 3% starting October 1, 2008!

but too bad, that's in Hong Kong.

http://www.istockanalyst.com/article/viewiStockNews+articleid_2649915.html

 

[JinGanKor]

How come they can reduce 3% while we need to increase 21%?

and how come they manage to keep the hike within 10% during high oil price? while what we have is hike, hike and non-stop hike?

monopoly rules i guess, pay so much money to get backside fxxk again and again.

 

[R4g3]

CLP Power to Reduce Electricity Tariff By 3%

Thursday, September 25, 2008 3:53 AM
(Source: Datamonitor)trackingElectricity network operator CLP Power Hong Kong has announced that its electricity tariff will be reduced by 3% for all its customers in Hong Kong, starting October 1, 2008, when the new scheme of control takes effect.

The 3% total tariff reduction, which will be realized in customers' electricity bills, is a result of a reduction of 10% in its net basic tariff, moderated by the effect of fuel clause charge increases.

CLP's tariff is made up of two major components. Basic tariff is a cost of service to customers for investments and operating costs necessary to keep the supply of power running to meet customers demand. The fuel clause charge, however, reflects the cost of fuel used for generating electricity and is directly passed through to customers.

Betty Yuen, managing director of CLP Power, said: "At a time when energy prices have been surging up across the world, CLP has been working hard to control the effects on our customers. Despite fuel price increases of about 200% in the past few years, the increase in fuel charges passed on to our customers has been limited to a level that is more than offset by a cut of 10% of the net basic tariff."

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That's the problem with monopoly and the problem with our country. Even they put a bullet into your skull and they can claim it is for your own good.

 

[The_Latest_H]

How come they can reduce 3% while we need to increase 21%?

and how come they manage to keep the hike within 10% during high oil price? while what we have is hike, hike and non-stop hike?

monopoly rules i guess, pay so much money to get backside fxxk again and again.

Its daylight robbery in almost all parts in regards to everyday costs and expenses.

 

[saratogas]

How come they can reduce 3% while we need to increase 21%?

Errr... becos we are govern by Pay And Pay Party?!

 

[JinGanKor]

"At a time when energy prices have been surging up across the world, CLP has been working hard to control the effects on our customers. Despite fuel price increases of about 200% in the past few years, the increase in fuel charges passed on to our customers has been limited to a level that is more than offset by a cut of 10% of the net basic tariff."

___________________________________________

How come we cant attract people with a heart to run our power company? or the posts only goes to "own people" as a reward for speaking the same language?

 

[po2wq]

... "At a time when energy prices have been surging up across the world, CLP has been working hard to control the effects on our customers. Despite fuel price increases of about 200% in the past few years, the increase in fuel charges passed on to our customers has been limited to a level that is more than offset by a cut of 10% of the net basic tariff."

basically, dat means, over here ...

dey hv nt been working hard ...
dey make no effort 2 control ze effects on their customers ...

wat a shame! ... :o

 

[Cestbon]

CLP Power to Reduce Electricity Tariff By 3%

Thursday, September 25, 2008 3:53 AM
(Source: Datamonitor)trackingElectricity network operator CLP Power Hong Kong has announced that its electricity tariff will be reduced by 3% for all its customers in Hong Kong, starting October 1, 2008, when the new scheme of control takes effect.

The 3% total tariff reduction, which will be realized in customers' electricity bills, is a result of a reduction of 10% in its net basic tariff, moderated by the effect of fuel clause charge increases.

CLP's tariff is made up of two major components. Basic tariff is a cost of service to customers for investments and operating costs necessary to keep the supply of power running to meet customers demand. The fuel clause charge, however, reflects the cost of fuel used for generating electricity and is directly passed through to customers.

Betty Yuen, managing director of CLP Power, said: "At a time when energy prices have been surging up across the world, CLP has been working hard to control the effects on our customers. Despite fuel price increases of about 200% in the past few years, the increase in fuel charges passed on to our customers has been limited to a level that is more than offset by a cut of 10% of the net basic tariff."

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That's the problem with monopoly and the problem with our country. Even they put a bullet into your skull and they can claim it is for your own good.

SP is manage by inefficient people and gov. Can someone write to Shitty Times about this article. Singapore up 21% HK down 3% electricity price.

 

[R4g3]

SP is manage by inefficient people and gov. Can someone write to Shitty Times about this article. Singapore up 21% HK down 3% electricity price.

inefficient people and gov? yes

greedy and $$$? yes x 10

 

[SIFU]

maybe they no need crude oil or natural gas to produce electricity...

in spore, we pay millions and still get arse__le in GLCs and politics..

 

[royster79]

Singapore will lower, but not now.. In maybe 3 mths time.. Most probably will be 3% also... :(

 

[Neh_Neh_Pok]

Singapore will lower, but not now.. In maybe 3 mths time.. Most probably will be 3% also... :(

3% only? Wah like that donno enough to buy 1 plate of 1 kosong and 1 egg pratas or not

 

[JinGanKor]

net tariff cut of 3 pct was smaller than expected, yet ours is increased by 21%...

http://www.tradingmarkets.com/.site/news/Stock News/1899428/

HONG KONG, Sep 24, 2008 (XFN-ASIA via COMTEX) -- CLPHY | Quote | Chart | News | PowerRating -- CLP Holdings's 10 pct cut in basic electricity tariffs was in line with market expectations, but the net tariff cut of 3 pct was smaller than expected given surging coal costs over the past 18 months, JPMorgan said.

JP Morgan had been projecting 5-7 pct cut in net tariffs for the Hong Kong power utility.

The brokerage maintained a "neutral" rating on the stock.

"We believe CLP's five-year capex budget of 39.9 bln hkd might come as a slight positive surprise for the market," it said, adding that the actual capital spending may come in at slightly below the announced plan.

The Hong Kong government approved yesterday CLP's new 5-year plan and 10 pct cut in basic tariffs.

The net tariff cut will be actually 3 pct after factoring in fuel clause charge.

CLP also agreed to substantially reduce its originally proposed capital expenditure over the plan period, trimming it by 30 pct to 39.9 bln hkd.

At 12.13 pm, CLP shares were up 1.0 hkd or 1.63 pct at 62.2.

 

[johnny333]

Errr... becos we are govern by Pay And Pay Party?!

More like Ah Lee Baba & the 40 thieves :(