HKELECTRIC will allocate over HKD 80 million next year to enhance its smart electricity-saving services

HKELECTRIC (02638.HK) announced that it will allocate over HKD 80 million in 2026 to enhance the "Smart Electricity Saving Service," including continuing to distribute cash vouchers to families in need, funding building energy efficiency improvements, and supporting disadvantaged families in purchasing energy-efficient appliances. In the past year, HKELECTRIC has invested nearly HKD 420 million through its Smart Electricity Saving Service, benefiting over 360,000 people.

HKELECTRIC stated that the "Cash Voucher Program" implemented in recent years will continue, with families identified as economically disadvantaged by HKELECTRIC's electricity discount program or by social welfare organizations or district councilors receiving a total of HKD 200 in cash vouchers per household, with approximately 10,000 families expected to benefit.

HKELECTRIC will also launch a new "Energy-Efficient Appliance Subsidy Program," providing energy-efficient induction cookers and electric water heaters to vulnerable families such as the elderly, disabled individuals, and those with chronic illnesses, aiming to improve energy efficiency, enhance fire safety, and improve indoor air quality.

Additionally, HKELECTRIC plans to trial renewable energy on Po Toi Island, expecting to provide eligible households with solar photovoltaic panels, energy storage systems, and energy-efficient appliances, as well as to re-lay power lines to assist remote communities without grid coverage in their low-carbon transition, enhancing power safety and energy efficiency. The trial program will last for 24 months