Get ready for more shocking power bills in future, Hong Kong residents warned

Hong Kong’s two power companies will be under tremendous pressure to raise the price of electricity as the city moves to become carbon neutral by 2050 and residents should brace for double-digit increases in the future, analysts warn.

But the city could create some breathing room when its own offshore liquefied natural gas terminal is completed next year, which will give the companies the option of casting a wider net for sources rather than relying solely on mainland China, one expert said on Wednesday.