We have now concluded the fifth SoC agreement with the government, which has taken over a number of new initiatives, including the CLP and our customers, who are well positioned to achieve energy savings and accelerate the development of renewable energy to support the government`s 2030 CO2 reduction targets. It also provides a solid foundation for the CLP to achieve our own 2050 climate vision, a voluntary commitment we made in 2007 to meet the challenge of climate change. As someone who has spent more than 40 years witnessing the growth of CLP first-hand, in line with Hong Kong`s development, I welcome the recent signing of a new Regulatory Agreement (SoC) with the government. It is recognized that, for more than half a century, the agreement has served Hong Kong very well and balanced the interests of the various interest groups. I would like to take this opportunity to thank our management and the Hong Kong team who, over the past decades, have worked diligently and professionally to maintain the world-class standards of our electricity services. Their commitment and commitment have greatly enhanced our reputation and gained public recognition of soC`s importance to Hong Kong, enabling us to sign this new agreement with the government. In retrospect, the 1960s were an era that was a turning point for Hong Kong`s economy when manufacturing began. Unprecedented growth in both industry and population has increased electricity demand by 20% per year and tested the electricity generation capacity of energy companies. SoC`s first agreement, signed in 1964 between CLP, CAPCO and the Hong Kong government, was a pioneering document that gave investors the confidence and security they needed to make significant investments in the city`s future, particularly for capital-intensive and long-term businesses such as electricity. At the same time, it has provided the government with an effective legal framework to ensure that customers have an adequate and reliable supply of electricity.
Hong Kong is our home and base market. We have promised our customers and the community that we will do everything we can to meet their expectations and contribute to Hong Kong`s greener and smarter future. As in the last 116 years, we are committed to the long term here and with the city. . Shortly after signing the first SoC, we expanded our power generation facilities in Hok Un and developed the new Tsing Yi power plant. These investments, which more than fivefold our production capacity at the time, are just a few examples of how we have always been one step ahead of society`s needs. For more than 50 years, we have been investing in diversifying our fuel range and energy and energy security sources and improving the robustness of our transportation and distribution networks. The results have been the consistent provision of world-class reliability, at some of the most competitive pricing levels and with a steady improvement in environmental performance. I believe that these proud achievements would not have been possible had it not been for the stable environment of the SoC and its ability to monitor the continued development of Hong Kong and the evolution of the Community`s aspirations. .
Information and Consultation Agreement with the Hong Kong and China Gas Company Ltd. (PDF version) Novation Deed in relation to Scheme of Control Agreement (SCA) with: ..