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CLP Holdings Subsidiary Discloses Capital Expenditure for 2024
CLP Power and Hongkong Electric will increase the net electricity tariff by 0.98% and 0.9% respectively next year.
The Environmental Affairs Committee of the Legislative Council held a meeting with two electrical utilities for the annual electricity tariff review. Secretary for the Environment and Ecology Tse Chuen Wan stated that from January 1 next year, the average net electricity tariff increase for CLP Power and Hongkong Electric will be less than 1%. He emphasized that measures have been taken to keep the tariff increase in check, and the authorities have also strictly controlled and reviewed the capital expenditure of the two electric utilities to minimize its impact on the tariff. Starting from January 1, 2025, the basic electricity tariff for CLP will be 98 cents per kilowatt-hour, an increase of 1.4 cents compared to 2024, while the fuel adjustment charge remains unchanged at 46.3 cents. After adjustments, the average net electricity price will be 144.3 cents per kilowatt-hour, increasing by 0.98% year-on-year. Hongkong Electric.
HSBC Research on "Major Banks": The US elections reset market expectations. Utilities industry recommendations include CLP Holdings (00002.HK), Cheung Kong Infrastructure (01038.HK), and Longyuan Power (00916.HK).
HSBC's global research report points out that the US election emphasizes the market's outlook on the global economy. In the asia utilities industry and alternative energy sector, the main concerns are the potential postponement of interest rate cuts and the adverse effects of trade policies on the industry, especially in china and south korea. The report states that fundamentals may not change significantly, except for the wind power supply chain.
Security Bureau: The explosion at the Daya Bay nuclear power plant is purely a rumor.
There are rumors on social media that the Daya Bay Nuclear Power Plant in Guangdong province has exploded. A spokesperson from the Hong Kong Security Bureau clarified that no notification has been received from mainland institutions. After verification with the Guangdong Provincial Nuclear Emergency Office, it was confirmed that the nuclear power plant is operating normally. The related information is completely unfounded and pure rumor. The Security Bureau spokesperson urges the public to pay attention to the official announcements issued through government channels and not to believe any rumors lightly.
CLP (00002.HK) co-organized the China Nuclear Expo, jointly signed the new quality productivity initiative for the nuclear energy industry.
CLP Holdings (00002.HK) stated that this year, as a specially invited co-organizer, it participated in the China Nuclear Energy High-Quality Development Conference and Shenzhen International Nuclear Energy Industry Innovation Expo organized by the China Energy Research Association and CGN Power Co.,Ltd., and jointly signed the "New Productivity Initiative for the Development of the Nuclear Energy Industry" with representatives of leading companies, scholars, and experts in the industry, aiming to accelerate the high-quality development of nuclear energy by consolidating industry consensus. CLP Holdings CEO Lo Ka-In mentioned that as early as the 1970s, CLP had entered the mainland energy market and invested in the construction of the Daya Bay Nuclear Power Station in the 1980s, which was the first large-scale commercial nuclear power plant in China.
Brokerage Focus: HTSC initiates coverage on CLP Holdings (00002) with a 'buy' rating, citing high sustainability of dividends and considerable potential.
Kingrum Finance | HTSC's research report pointed out that CLP Holdings (00002) is mainly engaged in power generation and supply business, covering China Hong Kong, mainland China, australia, india, etc., with both stability and growth in business. The power regulatory business in China Hong Kong and the nuclear power units in mainland China (equity participation) contribute stable income; the mid-term (around 2028) zero-carbon project plan implementation (adding 8-10 GW of installed capacity) is expected to bring substantial profit growth. With abundant cash reserves, historical dividends have never declined, and there is still potential for improvement in the future. The bank predicts the company's net profit attributable to owners for 2024-26 to be 98.5/102.0/105 million yuan.
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