Hong Kong’s CLP Power to give out HK$100 shopping coupons to 600,000 customers

Hong Kong’s CLP Power is distributing HK$100 (US$13) consumption coupons to about 600,000 eligible customers, including elderly people receiving concessionary tariffs, using HK$60 million from the company’s Community Energy Saving Fund.The initiative follows the power company’s earlier announcement that it would raise its fuel cost adjustment (FCA) charge starting this month, citing a discrepancy between forecast and actual fuel prices amid the United States-Israel war against Iran, which has driven up wholesale gas and power prices.“Hong Kong’s economy is recovering, but with shifts in consumer behaviour, the retail and catering sectors are still facing operational pressure,” Quince Chong Wai-yan, the energy firm’s chief corporate development officer, said on Thursday.“We hope the multiplier effect generated by the coupons will stimulate local spending, unleash potential consumption and help accelerate economic growth.”The coupons, valid until the end of October, can be used for online shopping and are redeemable at more than 4,000 participating businesses, including restaurants, bakeries, grocery stores, electrical appliance shops, pharmacies, salons and social enterprise retail outlets.The coupons are from a company fund dedicated to promoting energy conservation and decarbonisation, as well as supporting underprivileged groups.CLP Power said it had piloted electronic distribution of the coupons, with eligible customers receiving them via the company’s Domeo online platform by the end of last month.