A total of 2.5 million households will benefit from a maximum electricity subsidy of $1,800 from July 1, to help ease the economic downturn pressure.
The new round of monthly subsidy, at $150, will be credited to each residential account with CLP Power or Hongkong Electric on the first day of each month for 12 consecutive months.
The subsidies can be used to offset the billed charges for electricity consumed under the account. Any unused credit can be carried forward to cover billed electricity charges under the same account until June 30, 2015, or until the close of the account, whichever is earlier.
The subsidy is one of the relief measures announced by the Financial Secretary in the 2012-13 Budget and this one-off measure will involve Government expenditure of about $4.5 billion.
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