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Hong Kong energy report

Hong Kong energy report
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Format
2 files (PDF report, Excel file)
Pages
27 (Report only)
Delivery
Immediate by e-mail
Table of Contents
  • GENERAL OVERVIEW
  • INSTITUTIONS AND ENERGY POLICY
  • ENERGY COMPANIES
  • ENERGY SUPPLY
  • ENERGY PRICES
  • ENERGY CONSUMPTION
  • ISSUES AND PROSPECTS
  • DATA TABLES
  • ABBREVIATIONS
  • GLOSSARY

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Overview

This analysis includes a comprehensive Hong Kong energy market report and updated datasets. It is derived from the most recent key economic indicators, supply and demand factors, oil and gas pricing trends and major energy issues and developments surrounding the energy industry. The report provides a complete picture of the country situation, dynamics, current issues and future prospects. With market data and continuous follow-up of markets news, this report brings clear and concise insights with which to tackle national energy challenges and opportunities. Browse the tabs below for a detailed table of contents, the list of graphs and tables, and details on the data files.

Highlights

  • Hong Kong plans to reduce its CO2 intensity to GDP by 65% to 70% in 2030 compared to 2005. It has to play a part to fulfill China's NDC.
  • CLP Holdings is the main electric utility, holding 70% of the power capacity and supplying 80% of consumers.
  • Towngas has the monopoly over gas supply.
  • Hong Kong is dependent on energy imports, mostly from China.
  • Coal dominated the power mix until 2019 and is being replaced by gas.
  • Gasoline and diesel prices declined in 2021 (-6.5% and -7%, respectively).
  • Motor fuel prices are much higher than in mainland China (by 60% for gasoline and 95% for diesel), mainly due to higher taxes. Electricity prices are also 60% higher.
  • The services sector consumes two thirds of electricity.
  • Gas held the largest share in total energy consumption (35%) in 2021 and is replacing coal (-15 pp since 2019).
  • As part of its Climate Action Plan 2030+, the country is phasing out coal-fired power and shifting to natural gas and renewables. Hong Kong has the potential to produce 3-4% of its electricity from RES in 2030.

58%

share of gas in power mix (2021)

6 TWh

solar potential

100%

oil and gas imports from China

  • Institutions & Energy Policy

    The Government does not have a specific entity to control the energy sector. The responsibility for the regulation of the electricity and gas sectors is shared between several departments: the Commerce and Economic Development Bureau, the Electrical and Mechanical Services Department (in particular the Gas Standards Office), the Treasury, and the Environmental Protection Department.

  • Energy Companies

    Oil:

    The oil sector is made up of local companies that are mainly present in Southeast Asia. The main one, SS United Group Oil & Gas Company Limited (UEG), is a trading company that sells oil products in China, Russia, Japan, Thailand, and Malaysia. The group also has production infrastructures in Pakistan, the Middle East, and North Africa.

  • Energy Supply

    Gas:

    All the gas is imported by pipe from mainland China. Imports started in 1996, supplied from the LNG terminal of Shenzhen to fuel the two combined-cycle units at the Lamma power plant.

  • Energy Prices

    Oil:

    Gasoline and diesel prices declined in 2021 reaching US$1.87/l (-6.5%) and US$1.71/l (-7%), after a rise in both commodity prices since 2016 (+3.4%/year for gasoline and +5.2%/year for diesel).

  • Energy Consumption

    Total energy consumption per capita was 1.7 toe in 2021. Per capita electricity consumption is about 6 MWh.

    Total energy consumption remained stable in 2021 at 12.6 Mtoe, after an 8.5% decline in 2020. Previously, it had been stable since 2007.

  • Issues & Prospects

    Electricity:

    The country's priority is to develop renewables. The ENB estimates that Hong Kong only has an achievable potential of 3-4% of total electricity consumed from wind, solar and waste-to-energy sources until 2030.

  • GRAPH 1: CO2-energy Emissions (MtCO2)
  • GRAPH 2: Installed electric capacity by source (2021, %)
  • GRAPH 3: Gross power production by source (TWh)
  • GRAPH 4: Power generation by source (2021, %)
  • GRAPH 5: Gasoline & diesel prices (US$/l)
  • GRAPH 6: Electricity prices for industry and householeds (US$c/kWh)
  • GRAPH 7: Gas prices for industry and households (€c/ kWh GCV)
  • GRAPH 8: Consumption trends by energy source (Mtoe)
  • GRAPH 9: Total consumption market share by energy (2021, %)
  • GRAPH 10: Final consumption market share by sector (2021, %)
  • Economic Indicators: Annual historical data including population, GDP growth, imports and exports, inflation rate, energy security and efficiency indicators, CO2 emissions.
  • Supply Indicators: Historical data including oil and gas reserves, electric and refining capacity, energy production, power production and external trade. All are detailed by energy source.
  • Demand Indicators: Historical data including consumption per inhabitant, consumption trends, total consumption by energy source, final consumption by energy source and sector, and electricity consumption by sector.
  • Energy Balances: Single table displaying the overall energy industry balance per annum, also graphically displayed by energy sub-segment.
  • Infrastructure Projects: Covers power plant projects by energy, technology, status and operator.

The Hong Kong energy market data since 1990 and up to is included in the Excel file accompanying the Hong Kong country report.
It showcases the historical evolution, allowing users to easily work with the data.

Key Data included in the excelsheet:

  • Economic indicators: Annual historical economic indicators, energy security, energy efficiency and CO2 emissions.
  • Supply indicators: Annual historical reserves, capacity, production and external trade (imports(+) exports(-) balance).
  • Demand indicators: Annual historical consumption per capita, consumption trends, total consumption, final consumption (per energy and per sector) and electricity consumption total and per sector.
  • Energy Balance: total and per energy.
  • Hong Kong Energy Prices: In addition to the analysis provided on the report we also provided a data set which includes historical details on the Hong Kong energy prices for the follow items: price of premium gasoline (taxes incl.), price of diesel (taxes incl.), price of electricity in industry (taxes incl.), price of electricity for households (taxes incl.), price of natural gas in industry (taxes incl.), prices of natural gas for households (taxes incl.), spot price of Brent and CO2 emissions (from fuel combustion).

The Hong Kong country report is complemented with a national power generation dashboard (excel file) from our Power Plant Tracker Service.

Data included in the excelsheet:

  • New capacities: Current power mix, installed capacity at date, capacity under construction and under development.
  • Power Sector Performances: Historical data on installed capacity, power generation, thermal power plants inputs, average thermal power plant efficiency, CO2 emissions of the power sector, carbon factor of the power sector.