Towngas customers face higher bills as tariffs set to rise 4.4% in August
Towngas attributes increase to rising operating expenses over the past two years
The Hong Kong and China Gas Company (Towngas) said on Thursday that the tariff increase would result in about half of its commercial and industrial customers paying no more than HK$320 extra a month. It added that 65 per cent of residential customers would pay at most HK$10 more per month.
Towngas attributed the increase to rising operating expenses over the past two years, along with higher labour costs across the gas industry.
The company also said it would need to invest in gas supply for newly developed areas such as the Northern Metropolis megadevelopment. It said total capital expenditure would reach HK$13.1 billion for 2026 and the subsequent five years.
The 4.4 per cent increase in the basic tariff is equivalent to 1.25 HK cents per megajoule. The fixed monthly maintenance charge will rise by HK$1 to HK$11.
The basic tariff and monthly maintenance charge would not be adjusted further over the next two years, the company said.
The company added that it would continue to offer concession schemes to eligible elderly residents, people with disabilities, and single-parent and low-income families, covering around 41,000 beneficiaries in total.