Govt to ensure stable fuel supply amid ME tensions

Chief Executive John Lee on Thursday said authorities have proactively reached out to various suppliers to guarantee a stable supply of fuel for Hong Kong in light of escalating tensions in the Middle East. Speaking ahead of the weekly Executive Council meeting, Lee acknowledged that disruptions to the oil market are affecting the entire world. To safeguard the city's supply chain, the chief executive outlined several measures being taken to mitigate risk. "One thing we do to ensure safer supply is making suppliers be aware of the risk to ensure that they will have contingency plans," he said. "First of all, they should work on ensuring alternative supplies if it is possible. The second thing is ensuring that they have enough stockpiles." Lee also highlighted the importance of energy resilience. He noted that authorities are preparing to adjust the fuel mix for electricity production, allowing for a flexible response to changing circumstances by readily adjusting the proportions of natural gas, coal and nuclear power. In addition to supply concerns, the administration is closely monitoring the market to protect consumers. Lee noted that the Competition Commission is on alert to investigate any potential malpractices, which could range from unfair competition to price manipulation. He added that the Consumer Council is also keeping a close eye on the situation, and appealed to suppliers to remain mindful of public affordability and uphold their social responsibilities during this volatile period. Officials have also maintained communications with local stakeholders, he said. "The government has also been in touch with local airlines and also will be meeting fuel suppliers, petrol fuel suppliers, so as to ensure that they will know their social responsibility and also provide more updated and early information about supply, about prices and that is important so as to let people know more about potential changes." Edited by Aaron Tam