OREANDA-NEWS. December 05, 2013. CLP Power Hong Kong Limited (CLP Power) has reaffirmed its commitment to promoting energy efficiency and conservation and to seeking continuing improvements for the community in the 2013 Interim Review of the Scheme of Control Agreement (SCA) between CLP Power, Castle Peak Power Company Limited (CAPCO) and the Government.

For years now, CLP Power has been actively encouraging the community to use electricity  wisely to achieve energy efficiency. The setting up of an Energy Efficiency Fund under the 2013 Interim Review is a further step towards this goal. The Fund will provide subsidies on a matching basis to non - commercial building owners to carry out improvement works to enhance the energy efficiency of their buildings, with priority to be given to single residential blocks.

CLP Power and CAPCO will pay into the Fund amounts equal to the financial incentive payments it will receive under the energy efficiency incentive mechanism in the SCA in  respect of performance from 2014 until the expiry of the current term of the SCA. It is estimated that the companies will contribute shareholders’ earnings of around USD70 million on a matching basis to support energy improvement projects in non - commercial buildings.

The Fund will encourage owners of these buildings to participate in enhancing energy efficiency.

CLP Power will collect stakeholders’ views as it draws up details of the scheme, which is expected to be launched in the first half of 2014.