Govt Press Release
Cheaper electricity is projected after the Executive Council today approved CLP Power’s contract extension for the supply of electricity from Daya Bay Nuclear Power Station for another 20 years from May 7, 2014.
The projected average unit price of nuclear electricity from Daya Bay is expected to fall up to 12% under the deal.
The Memorandum of Understanding on Energy Co-operation signed between the Government and the National Energy Administration last August saw the backing of the 20-year extension. The supply quantity will be no less than the current level in principle while pricing will be agreed on commercial principles.
Secretary for the Environment Edward Yau said the extension will benefit both consumers and the environment.
“[It] provides an assurance of electricity supply at reasonable and affordable prices for Hong Kong consumers, and also a continued supply of cleaner electricity to Hong Kong, which will help alleviate air pollution and greenhouse gas emission locally,” he said. “This is in line with our policy intention to use cleaner fuel for electricity generation under the current consultation on the review of the Air Quality Objectives.”
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