C.S. 166
CONFIDENTIAL #
機密
XCC(77)87
Cost of Capital Expansion
33
Copy No. Page 4
of 40
9
The revised estimate of total cost, shown in Table III below,
is 13% higher than that set out in paragraph 9 of Annex A to memorandum XCC(77)86.
Table III
Generation
Transmission
Year
Land
(including
and Buildings) Distribution
Total
$ M
$M
$M
$M
1977
42
169
211
1978
160
73
230
463
1979
27
80
248
355
1980
27
444
417
888
1981
932
700
1,632
1982
886
385
1, 271
1983
549
718
1, 267
1984
313
410
723
1985
409
388
797
1986
141
325
466
1987
3 48
348
214
3,869
4,338
8, 421
The main reasons for this are that:
10
(a)
(b)
the original transmission and distribution costs have increased by $730m because:
(i)
(ii)
there is extra expenditure ($370m) associated with the Lantau site as compared with a main- land site originally envisaged; and
about $360m is needed for additional items considered necessary following the compilation of a detailed transmission and distribution development plan;
generation cost increases of $200m arise from the need for the additional gas turbine capacity (see paragraph 8(b)) and a further $160m increase is accounted for by the DOI package being higher than CLP's original estimate.
The cost of land used for the purposes of estimating total cost is the very rough average price of $55 per square foot overall (for land formed), indicated to CLP recently, which is somewhat lower than the price used in Annex A to memorandum XCC(77)86.
CONFIDENTIAL
機密