CLP posts HK$5.73 billion underlying profit in first half of 2026

CLP Holdings, Hong Kong's leading energy company, reported a HK$5.73 billion underlying profit in the first half of 2026, marking a 9.7% increase year-on-year. This growth was propelled by expansion in its regulated business. In addition, CLP made a HK$2.5 billion investment to enhance electricity supply for the Northern Metropolis megaproject.

The company's net profit grew 6.6% year-on-year to HK$5.99 billion, including significant gains from the sale of the Jhajjar Power Station in India. Chairman Michael Kadoorie outlined plans to support Hong Kong's five-year plan, accelerate decarbonisation, and invest in strengthening electricity supply for the technology-driven Northern Metropolis project.

Kadoorie also disclosed high-level meetings with Chinese officials, emphasizing CLP's commitment to Hong Kong and the mainland. The company's average net tariff rose 4% in August compared to January, attributed to higher fuel costs due to the Middle East conflict and volatile energy markets. CLP Holdings CEO Chiang Tung-keung noted the volatility in oil prices, which spiked earlier this year before declining.

The 4% tariff adjustment is part of a gradual increase, suggesting a potential short-term uptrend in oil prices. The HK$2.5 billion investment is part of a five-year plan (2024-2028) to build the grid and power data centres across Hong Kong, with plans to incorporate more zero-carbon energy sources like nuclear power. CLP's revenue for the six-month period remained stable at HK$42.856 billion, with gains from Hong Kong and mainland markets offset by weaker returns from its Australian business.