2025-05-21
HK Electric’s Sustainability Report 2024
HK Electric, the main operating company of HK Electric Investments and HK Electric Investments Limited, is a major power utility in Hong Kong, serving more than 593,000 customers. The Company’s newly released Sustainability Report 2024 presents its approach to sustainability, key performance, targets and future plans.
Commencing operations in 1890, HK Electric has been contributing to the economic and social development of Hong Kong for 135 years. To combat climate change, the Company is advancing its energy transition in a responsible and orderly way, aiming for net-zero electricity generation before 2050.
Sustainability highlights of HK Electric in 2024 included:
- Commissioned a new gas-fired unit, L12, raising the gas-fired generation ratio of its Lamma Power Station to 68% of total power output and reducing its carbon emissions by 40% compared to the 2005 level;
- Utilised technologies to enhance the reliability of its power systems, such as two self-developed technologies, which have been patented, for the identification of faulty low-voltage cables and continuous monitoring of switchgear performance respectively, enabling HK Electric to once again achieve a high supply reliability rating exceeding 99.9999%;
- Made good progress with the deployment of smart meters for its customers, with more than 480,000 smart meters deployed since 2020, covering approximately 80% of its customers and aiming for full deployment by 2025;
- Promoted environmental awareness in the community and supported those in need through various education and community programmes, especially on elderly care and promotion of low-carbon lifestyles and energy affordability; and
- Strengthened its sustainability strategy and communication with stakeholders by conducting a double-materiality assessment and enhancing its climate-related disclosures with reference to HKEX’s new ESG Reporting Code, reinforcing its commitment to accountability and transparency.
Looking ahead, HK Electric will ensure the smooth implementation of its 2024-2028 Development Plan and remain focused on providing safe, reliable, clean and affordable electricity for its customers. The Company will continue to leverage technological advancements and collaborate with its stakeholders towards achieving a smart, resilient and sustainable future.
You are cordially invited to explore HK Electric’s Sustainability Report 2024 and share your valuable views through the report’s online feedback form.
HK Electric receives the Gold Award in the Public and Community Services sector at the 2023 Hong Kong Awards for Environmental Excellence, for its exceptional green management and dedication to sustainable development in Hong Kong.
The “Back in Fashion” competition co-organised by HK Electric and the Technological and Higher Education Institute of Hong Kong promotes the innovative twist of unwanted clothes.
Established for more than 20 years, the HK Electric Volunteers Team has been focusing on elderly care and environmental protection and has expanded its scope of service to address other social needs.