Hk Electric Investments & Hk Electric Investments Ltd. · HKEX:2638
Hk Electric Investments & Hk Electric Investments — HK Electric Investments — Corporate Update (November 2023)
14 slides from Hk Electric Investments & Hk Electric Investments's corporate update, Nov 28, 2023
Slide 1: Striving to Realise Hong Kong's Decarbonisation Vision
28 November 2023 2024 - 2028 Development Plan & 2024 Tariff Review Striving to Realise Hong Kong's Decarbonisation Vision
Slide 2: 2019 - 2023 Development Plan Review
2019 - 2023 Development Plan Review Entering a new era of gas generation with focus on reducing emissions ▪ Offshore liquefied natural ▪ 2 new gas-fired units ▪ 2 less efficient coal-fired gas terminal started ▪ Over 1 MW of PV commissioned, one and gas-fired units retired, 2 commercial operation sy
Slide 3: Significant Reduction of Carbon and Other Emissions
Significant Reduction of Carbon and Other Emissions Amount of Emissions 2022 versus 2005 RSP ↓90% SO2 ↓96% NOx ↓76% CO2 ↓32% RSP: Respirable Suspended Particulates SO2: Sulphur Dioxide NOx: Nitrogen Oxides CO2: Carbon Dioxide 3
Slide 4: 2024 - 2028 Development Plan
2024 - 2028 Development Plan Extreme weather events necessitate continued $22-billion in new Development Plan to address investments in reduction of carbon emission and climate challenges, with continuing carbon & enhance resilience of our physical emissions reduction efforts infrastructure to ensur
Slide 5: Supporting Government's Emissions-reduction Policy
Supporting Government’s Emissions-reduction Policy Build 3 oil-fired open cycle generating units capable of fast start-up replacing 4 similar old units to cater for contingencies Supporting Climate Action Plan's Medium-term Targets Build one gas-fired unit to replace a coal-fired unit to maintain su
Slide 6: Strengthening the Power Grid to Meet Hong Kong's Development
Strengthening the Power Grid to Meet Hong Kong’s Development Building transmission and distribution substations to cater for electricity supply to large-scale projects in Eastern & Southern districts as well as the city’s other developments Upgrading the voltage of distribution system through progre
Slide 7: 2024 Average Net Tariff Down by 16%
2024 Average Net Tariff Down by 16% ● To cover increased expenditure on upgrading and strengthening power infrastructure, Basic Tariff will increase by 5 cents/kWh. ● With international fuel prices eased, Fuel Clause Charge will be reduced by 36.5 cents/kWh despite higher natural gas consumption. ●
Slide 8: Our Competitive Tariff
Our Competitive Tariff Comparison of Residential Tariff for International Cities 8
Slide 9: Fuel Prices Stabilised but Still at a Relatively High Level
Fuel Prices Stabilised but Still at a Relatively High Level • FCC fully reflects the price fluctuations of fuels. • Fuel prices have been stabilising but are still relatively high; close monitoring of geopolitical risks is required. 9
Slide 10: Expected Changes in Tariff during Development Plan
Expected Changes in Tariff during Development Plan Year 2023 2024 2025 2026 2027 2028 (cents/kWh) Basic Tariff 114.5 119.5 124.2 127.9 130.4 133.0 Fuel Clause 82.5 46.0 42.5 40.5 42.2 44.2 Charge Average Net Tariff 197.0 165.5 166.7 168.4 172.6 177.2 10
Slide 11: Supporting Carbon Reduction in Community
Supporting Carbon Reduction in Community HK$56 million set aside in 2024 for Smart Power Services Improving Energy Efficiency • Provide free energy audits Promoting to non-residential Renewable Energy customers • Subsidise NGOs and • Sponsor non-residential schools to install grid- customers to inst
Slide 12: Caring and Environmental Stewardship
Caring and Environmental Stewardship Caring for the Community • Subsidise eligible groups to install energy efficiency equipment • Distribute cash coupons to underprivileged Green & Smart Lifestyle • Offer electricity subsidies and rewiring subsidies to sub-divided • Sponsor various activities to in
Slide 13: Summary
Summary To address climate challenges and sustain decarbonisation efforts, HK Electric has committed to investing $22 billion to maintain electricity generation capacity, strengthen the power grid and enhance system intelligence and automation. The Average Net Tariff for January 2024 will be 165.5 c
Slide 14: Thank You
Thank You
HK Electric Investments — Corporate Update (November 2023) on 6ix