A long-awaited deal to lower the cap on guaranteed earnings for Hong Kong’s two power companies was announced on Tuesday, but it fell short of public demands and locked the city into another 15 years of full dependency on them.
Environment minister Wong Kam-sing said the agreement could see electricity tariffs reduced by up to 5 per cent, but CLP Power and HK Electric would not commit to this.
The amount the two suppliers are allowed to earn will be slashed from 9.99 per cent to 8 per...
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