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PUBLIC WORKS AND UTILITIES
phase or 346 volts three phase with 6.6 kV or 11 kV available for industrial users, if required.
In November Government approved a project for the formation of a new joint electricity generating company by the China Light and Power Company Limited and Esso Standard Eastern. It is initially planned to have a capacity of 720 megawatts additional to China Light's existing installations, at a capital cost of approx- imately $500 million. The electricity generated is to be distributed through China Light's system and the fuel oil requirements of China Light and of the new company are to be supplied by Esso at market prices. Government's approval is subject to the accept- ance jointly by China Light and the new company of the normal statutory obligations of a public utility franchise. A scheme of financial control to apply to the operations of China Light and the new company has been agreed between Government and the companies. Its objects are to limit the companies' disposable profits to a reasonable return on their equity capital while providing adequate incentives towards efficiency and expansion; and in partic- ular to ensure that the benefits from any capital for expansion which is obtained from additional profits accrue primarily to the consumer.
The Cheung Chau Electric Company Limited supplies electricity to the island of Cheung Chau which contains some small industries and a population of fisherfolk who originally founded the company as a community project in 1913. Since taken over by commercial interests, the company now operates an electricity supply on a 50 cycle, three-phase, four-wire system of 200/346 volts for domestic, commercial and industrial purposes.
The Hong Kong and China Gas Company Limited supplies gas to domestic, commercial and industrial consumers in all urban areas. Supply is also available for the whole of the Peak area on the Island and in the industrial community of Tsuen Wan.
The gas, sold in therms, has a heating value of 455 British thermal units a cubic foot in the urban areas and 650 British thermal units a cubic foot in Tsuen Wan. There is a monthly minimum 'standing charge' of $10.60 ($24.10 for meters of a rated capacity over 1,000 cubic feet an hour) which covers the cost of the first three therms used. Gas used in excess of three therms is charged on a scale ranging from $2.86 to $2.30 a therm depending on the quantity.