GROUP PERFORMANCE

OPERATING EARNINGS
  • HK$
  • 13,982
  • million

5.1% increase from 2017

Operating Earnings1 by Market
  • HONG
    KONG - 58%
  • MAINLAND CHINA - 15%
  • INDIA - 4%
  • SOUTHEAST ASIA & TAIWAN - 1%
  • AUSTRALIA - 22%

Note 1: Before unallocated expenses

Total Earnings
  • HK$
  • 13,550
  • million

4.9% decrease from 2017

Dividends
  • HK$
  • 3.02
  • per share

3.8% increase from 2017

Innovation is a priority in our long-term goals. In 2018, we:
  • Applied digital tools such as big data and artificial intelligence in resolving complex engineering challenges
  • Made direct investments to bring in best-of-breed technologies for optimising operations and developing new products and services for customers e.g. AutoGrid, En-trak
  • Formed partnerships to introduce new business models for developing smarter and cleaner energy services e.g. CLP-TUS collaboration
  • Tapped into the capability of the world’s innovators through accelerator platforms e.g. Free Electrons, Startupbootcamp
PERFORMANCE BY REGION
HONG KONG
Deploying advanced technology to enhance performance of our power system and deliver superior customer services
  • Operating earnings: HK$8,558 million, 3.4% down from 2017
  • Lower earnings as new SoC Agreement took effect from October 2018, partially offset by increase in net fixed assets
  • Invested HK$8.9 billion to enhance supply systems and generation assets
  • High supply reliability of over 99.995% despite impact of Super Typhoon Manghkut
  • Customer accounts increased from 2.56 million to 2.60 million
Unloading of a new gas-fired generation unit at Black Point Power Station
  • Construction of 550MW CCGT generation unit at Black Point Power Station progressing well
  • Offshore LNG terminal project received environmental permit; started front-end engineering design and made progress on LNG supply and FSRU vessel arrangements
  • New SoC the greenest so far; launched initiatives to promote local renewable energy development and energy efficiency & conservation
General rollout of smart meters for customers
  • Began general rollout of smart meters for all customers
  • Set up CLP Innovation Hub to create smart energy applications for consumers and businesses
  • Outlook:
    • Deliver 5-year Development Plan in support of the Government’s carbon reduction targets and environmental policies
    • Provide vital energy infrastructure to ensure reliable and stable electricity supply for smart city development
MAINLAND CHINA
MAINLAND CHINA
Yangjiang Nuclear Power Station
  • Operating earnings: HK$2,163 million, 74.7% up from 2017
  • Higher earnings driven by more and better-performing zero-carbon assets; earnings from nuclear rose 88.4%
  • Yangjiang Nuclear Power Station made first full-year contribution to earnings
Lingyuan Solar Power Station
  • Renewable portfolio benefitted from ample natural resources, lower grid curtailment, and new projects
  • Fangchenggang Power Station reported higher output back by economic growth in Guangxi Autonomous Region and less competition from hydro generation
  • Coal projects continued to face challenges of high coal cost, low tariffs and low utilisation
Celebration of our partnership with TUS-Clean Energy
  • Formed CLP-TUS joint venture to develop and deploy new energy and smart city technologies in Mainland China, particularly in the Greater Bay Area
  • Outlook:
    • Expand low-carbon portfolio, pursuing new projects in disciplined and selective manner
    • Increase utilisation of the Fangchenggang plant
INDIA
INDIA
Veltoor Solar Farm
  • Operating earnings: HK$572 million, 11.6% down from 2017
  • Earnings from renewable portfolio grew, helped by higher output
  • Thermal portfolio saw stable performance but higher O&M costs and absence of 2017 favourable one-off items affected earnings
  • Introduced CDPQ as strategic shareholder with an aim to grow non-carbon investment
Samana Wind Farm
  • Wind farms reported highest-ever output and Veltoor Solar Farm fully commissioned in Q1 2018
  • Sent-out of Jhajjar Power Station set new records but insufficient coal to meet demand
  • Continued to explore options for Paguthan Power Station after expiry of Power Purchase Agreement in December 2018
  • Outlook: Pursue growth with new partner CDPQ, focusing on renewable energy and transmission
SOUTHEAST ASIA & TAIWAN
SOUTHEAST ASIA &
TAIWAN
Lopburi Solar Farm
  • Operating earnings: HK$162 million, 1.3% up from 2017
  • Ho-Ping Power Station delivered good operational performance; adversely impacted by high coal prices
  • Lopburi solar project operated smoothly with sound financial results
  • Continue negotiations with Vietnamese authorities regarding two legacy projects - Vung Ang II and Vinh Tan III
  • Outlook: Continue to enhance existing operations; assist Vietnam to explore options to meet its energy needs
AUSTRALIA
AUSTRALIA
Newport Power Station
  • Operating earnings: HK$3,302 million, 20.6% up from 2017
  • Strong operating performance of generation portfolio in tight market with high wholesale prices
  • Fierce retail competition and our restraint in passing through higher costs to customers led to lower sales volume and margins
  • Integration of Newport and Jeeralang gas-fired plants
Battery storage systems in Victoria
  • Outlook:
    • Continue to improve customer experience and ease pressure on household budgets
    • Optimise generation portfolio, enhance asset reliability and explore integration of flexible capacity options e.g. battery storage
    • Continue to work with governments and advocate for a clear and stable national energy policy