To alleviate the economic pressure of the public caused by the economic downturn and the epidemic, the Financial Secretary announced in the 2021-22 Budget a series of counter-cyclical measures, which included an electricity charge subsidy of HK$1,000 to each eligible residential electricity account.
The HK$1,000 will be injected into each eligible residential electricity account with CLP Power Hong Kong Ltd. or The Hongkong Electric Co., Ltd. in 12 installments, with each account receiving HK$80 for the first 11 months and HK$120 in the 12th month.
The new subsidy scheme will be valid for around two and a half years until December 31, 2023.
Meanwhile, in order to align with the new subsidy scheme, the government will also extend the expiry date of the existing subsidy scheme from December 31, 2022 to December 31, 2023.
Such that both the unused credits under the existing subsidy schemes and the freshly injected credits under the new subsidy scheme can be used to cover billed electricity charges until the same expiry date.
The two electricity companies will have to provide the government with monthly reports on the number of accounts eligible for the subsidy, as part of the control mechanism.
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