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Electricity Charge Subsidy
148.
To ease inflationary pressure, I propose to grant each residential electricity account a subsidy of $1,800. At present, about 15 per cent of households in Hong Kong pay an average of not more than $150 a month for electricity charges. The subsidy will enable these households to cover their electricity charges for about one year. As for another 20 per cent of households paying an average of $150 to $300 a month for electricity charges, the subsidy is enough to pay their electricity bills for about six months. I believe this measure will most benefit lower income households. The Government will inject the subsidy into the electricity bill accounts of eligible registered households in phases. We will discuss with the two electricity companies the implementation arrangements and announce the details later. This measure will cost about $4.3 billion.
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