HK Electric - SS (02638) Announces Interim Results Profit attributable to share joint holders of HK$1.03 billion, up 0.2% year over year

According to the Zhitong Finance App, HK Electric - SS (02638) announced its 2026 interim results, with revenue of HK$5.939 billion, up 6.68% year on year; combined share holders should account for profit of HK$1.03 billion, up 0.2% year on year; profit per share of HK11.35 cents. The mid-term distribution was HK15.94 cents per share combined.

Electricity sales in the first half of 2026 increased by 2% compared to the same period last year, mainly due to relatively warm weather and economic improvements, which led to an increase in demand for electricity from commercial customers.

In January 2026, HK Electric's average net electricity cost was HK163.3 cents per kilowatt hour. The net electricity bill consists of basic electricity charges and fuel adjustment fees. Among them, the monthly adjustment mechanism for fuel adjustment fees has a deferred effect. At the end of June 2026, net electricity costs dropped to HK$159.2 per kilowatt hour due to lower fuel costs before the outbreak of war in the Middle East at the beginning of the year. International fuel prices have been at a high level since March 2026, and fuel adjustment fees will inevitably rise significantly in the second half of the year and will continue for some time.

As net electricity costs are expected to rise, in order to ease the burden on customers, HK Electric will provide a “special electricity allowance” of 8 Hong Kong cents per kilowatt hour to residential customers with monthly electricity consumption of 450 degrees or less from August to October 2026 through the “Smart Electricity Care Fund”. Eligible customers account for approximately half of the total number of HK Electric residential customers.