CLP (2) Q3 2025 earnings summary

Executive summary

• Electricity sales in Hong Kong fell 1.8% year-over-year to 27,456 GWh due to lower average temperatures, despite strong growth in data centre and transport electrification sales.

• CLP Power maintained operational resilience during Super Typhoon Ragasa, ensuring rapid restoration of affected services.

• Major infrastructure upgrades and decarbonisation initiatives are progressing, including the Clean Energy Transmission System and expanded EV charging networks.

• International operations in China, Australia, India, Taiwan, and Thailand reported stable or improved performance, with notable advances in renewables and energy storage.

Financial highlights

• Customers benefited from an 8.2% drop in the Fuel Cost Adjustment since the start of 2025, reflecting lower international fuel prices.

• CLP China received record renewable energy subsidy payments of HK$761 million, reducing outstanding receivables to HK$2,466 million.

• The third interim dividend for 2025 is HK$0.63 per share, unchanged from the previous year.

Outlook and guidance

• The Clean Energy Transmission System upgrade is on track for completion early next year, supporting long-term decarbonisation.

• Multiple renewable and storage projects in China and Australia are scheduled to become operational by year-end or within the next two years.

• Apraava Energy in India is advancing solar and transmission projects, with several completions targeted for 2026.