Towngas to raise basic tariff starting Aug 1

Towngas said it will raise basic tariff by 4.4 percent to HK$1.25 cents per megajoules (MJ) starting August 1.

At the same time, the fixed monthly maintenance charge will go up by HK$1 to HK$11.

Under the increment, the firm said about 65 percent of its residential customers will pay less than HK$10 extra per month, while half of its commercial and industrial users will pay an additional amount of less than 320 dollars each month.

Towngas also said both the basic tariff and maintenance charge will stay unchanged for the next two years.

The company said it has always been “exceedingly prudent” in tariff adjustments, and the decision came after considering the customers’ affordability.

“Over the past two years, operational expenses have continued to rise, alongside a marked increase in labour costs across the gas industry. Substantial capital investment will also be required in the forthcoming years to maintain safe and reliable services, as well as to extend town gas supply to newly developed areas, such as the Northern Metropolis,” a statement read.

“It is anticipated that the aggregate capital investment for 2026 and the subsequent five years will amount to HK$13.1 billion.”

About 41,000 beneficiaries, such as eligible elderly people and single-parent families, will continue to get a 50 percent discount for the first 500MJ of monthly town gas consumption, Towngas added, and their monthly maintenance fees and spare parts costs will continue to be waived.

Edited by Edmond Fong ...