Hong Kong Electric (02638.HK) announced that it will allocate over 70 million HK dollars next year to strengthen the 'Smart Saving Energy Service' program, assisting different communities including social welfare institutions, schools, and vulnerable groups to move towards carbon neutrality. They will also continue to distribute cash coupons to families in need and subsidize public housing tenants to install separate electricity meters.

The enhanced version of the 'Energy Saving Sharing Subsidy Scheme' launched in the new fiscal year will support non-profit social welfare institutions and schools through one-stop services to implement measures to improve energy efficiency and adopt renewable energy sources. Starting next year, each eligible building can receive up to 3 million HK dollars in subsidies for installing energy-saving electrical appliances, applying solar photovoltaic technology, using energy-saving paint on the roof, and other measures. Additionally, eligible non-residential customers in need will also be subsidized to switch to electric cookers, electric water heaters, electric dryers, with a maximum of 0.4 million HK dollars, benefiting an estimated 60 to 100 projects next year.

Terry Tsai, General Manager of Customer Services at Hong Kong Electric, stated that Hong Kong Electric has been promoting the sustainable development goals of society. In addition to ensuring a stable and reliable electrical utilities supply, they are committed to achieving net zero emissions by 2050 while supporting those in need.

As for other projects under the 'Smart Saving Energy Care Fund,' including the 'Cash Coupon Scheme' implemented in the past few years, it will continue next year. In addition, under the 'Smart Saving Energy Service,' there is also the 'Smart Saving Energy Building Fund' to help property owners improve the energy efficiency of common building equipment. Hong Kong Electric allocates 25 million HK dollars each year, and owners of any buildings within Hong Kong Electric's supply range, including residential, commercial, industrial, and mixed-use buildings, can apply.