CLP electricity sales in Hong Kong up 2.6% YoY in Q1

The commercial sector saw significant demand due to the lifting of pandemic restrictions.

CLP Holdings reported a 2.6% year-on-year (YoY) increase in electricity sales in the first quarter of 2023 to 7,106 gigawatt-hours (GWh) due to the economic rebound as COVID-19 restrictions were removed.

In a statement, CLP said the lifting of restrictions boosted activity in the commercial sector which saw stronger demand from restaurants. The sector accounted for the largest chunk of the total sales at 40%, increasing by 6.7% YoY to 2,812 GWh.

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The full return of government services and the resumption of physical classes also contributed to the rise of the infrastructure and public services sector. It comprised 30% of the total sales with a 3.5% YoY rise to 2,079 GWh.

Meanwhile, the residential sector, which accounted for 25% of the total sales, was the only sector that saw a decline, dropping by 4% to 1,791 GWh.

The manufacturing sector, which composed 5% of the total sales, saw a 1.2% YoY uptick to 334 GWh.