Fire Triggers Hong Kong's Biggest Blackout in Recent Memory [Business News Network (BNN) (Canada)]
CLP HOLDINGS LTD S/ADR (CLPHY)
NASDAQ:AMEX Investor Relations:
clpgroup.com/en/investors-information/quick-facts
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Source: Business News Network
High-voltage cables on a bridge in Yuen Long caught fire at about 7:10 p.m. on Tuesday, triggering outages in three districts across the New Territories region, CLP Holdings Ltd. said in a statement on Wednesday. Though electricity was mostly restored by Wednesday morning, the disruption prompted the government to suspend classes at 14 schools for the day. Repair work was still being carried out and residents may continue to experience some instability, according to CLP, the main provider of power in the area. No injuries were reported. Chan Siu-hung, a legislator who serves as an advisor for the electricity company, said he couldn't recall an outage of this scale in the past quarter century. By comparison, Typhoon Mangkhut disrupted electricity at about 40,000 households in 2018. CLP representatives weren't able to say when Hong Kong suffered a bigger blackout. CLP shares, which has seen its share rise for only one day this month, dropped 2.7% to HK$65.60 in Hong Kong trading
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