2024-05-27

HK Electric’s Sustainability Report 2023



 
HK Electric, the main operating company of HK Electric Investments and HK Electric Investments Limited, is a power utility in Hong Kong and supplies electricity to more than 589,000 customers. Its newly published Sustainability Report 2023 presents its approach to sustainability and key performance during the year, as well as plans and targets for the future.

HK Electric is committed to the pursuit of net zero before 2050 and is working closely with the Government and other stakeholders on realising this shared goal. With the successful conclusion of its 2019-2023 Development Plan in 2023, the Company has made significant progress in its decarbonisation journey.

Sustainability highlights of the year for HK Electric are:
 
  • Achieved a yearly supply reliability rating exceeding 99.999% for the 27th consecutive year despite the occurrence of an unexpected supply disruption in April, for which a thorough review has been conducted and preventive measures have been taken;
  • Commissioned an offshore liquefied natural gas terminal through a joint venture project, synchronised a new gas-fired unit, L12, and increased gas-fired generation ratio to around 56% of total power output;
  • Published a Climate-related Disclosures Report elaborating HK Electric’s approach to managing climate-related risks and opportunities, including outcomes of a scenario analysis of potential climate-related financial impacts;
  • Implemented a series of relief measures to help disadvantaged households and non-residential customers save energy costs and improve electrical safety, while making good progress on the full-scale deployment of smart meters for customers; and
  • Hosted an innovation conference with distinguished guests from diverse sectors and published HK Electric’s inaugural Innovation Report to share with its stakeholders about significant projects that are propelling the Company forward.

As HK Electric embarks on its 2024-2028 Development Plan, it will remain focused on delivering safe, reliable, clean and affordable electricity for its customers while continuing to build resilience and facilitate a fair and inclusive transition to a low and ultimately zero-carbon future.

You are cordially invited to explore HK Electric’s Sustainability Report 2023, Climate-related Disclosures Report and Innovation Report 2023.

 


HK Electric’s pioneering green mobile electricity supply system delivers reliable and emissions-free power during emergencies and major events.




Celebrating the 20th anniversary of its “Happy Green Campaign”, HK Electric organises a “Happy Green Fair” at Central Market, which combines environmental protection, art, technology and reading with a series of activities, to introduce carbon neutrality to the public in a cool and fun way.