‘Squeezed further’: calls for SME energy subsidies as Hong Kong power fuel surcharges soar

INTELLIGENCE SUMMARY

Small and medium-sized enterprises (SMEs) need subsidies to cope with soaring electricity costs after fuel surcharges imposed by Hong Kong’s two power suppliers rose by up to 78.5 per cent since March due to the Middle East war, an industry leader and a lawmaker have said. HK Electric, which mainly supplies Hong Kong Island and Lamma Island, announced that its fuel clause charge would increase by 5.9 per cent from August to 60.7 HK cents per kilowatt-hour (kWh) in September. The increase is the.