What do you mean by quitting the business? I'm not a big shot.

Chapter 605 Offering Thanks to the Gods
After taking control of CLP, Yin Zhaotang successfully assumed the position of Chairman of the Board, but did not make any large-scale personnel changes. As a long-established energy company in Hong Kong, CLP's management is very mature.

Considering that most of the management team consisted of foreigners trained by the Kadoorie family, he appointed Ah Lok as Vice President of CLP Power to oversee the group's operations.

By conducting audits and performance evaluations at the end of the year, the group's operations can be kept afloat, and personnel changes can be completed slowly. The only thing that was done was to present the "Peak-Valley Electricity Pricing" plan at the board meeting, which was unanimously approved.

In the eyes of international capital, peak-valley electricity pricing is not a new strategy. In the 1940s, Europe and the United States were developing rapidly and there was a shortage of electricity supply.

A peak-valley policy was quickly formulated, using price differences at different times to guide users to use electricity during off-peak hours. This aims to improve the balance and stability of the power system, with peak hours typically set during the day and off-peak hours at night.

During the day, users are mostly "commercial and industrial" users, while at night it is "residential electricity consumption". With the expansion of nuclear power plants in Europe and the United States, as well as the relocation of manufacturing and factories, developed countries have a surplus of electricity and have reduced their use of the "peak-valley electricity pricing" strategy.

The reason why peak-valley electricity pricing has never been implemented on Hong Kong Island is because Hong Kong Island has always experienced a power shortage, and the two major power companies have no intention of selling electricity to the public at low prices.

There is no peak-valley electricity price, but there will definitely be a tiered electricity price.

CLP Power sells electricity in Hong Kong Island, with a starting price of HK$0.50 and a tiered price of 150 kWh per unit. In an era when the average monthly income was only two or three thousand dollars, electricity prices were extremely high. Appliances such as refrigerators and air conditioners consume a lot of energy, and for a family of five, if they used them freely, the monthly electricity bill could exceed HK$500, which was a heavy burden.

Citizens are frugal, using electric fans and radios, and their monthly electricity consumption can be reduced to below 300 kWh.

Yin Zhaotang's "Peak-Valley Electricity Pricing" scheme does not raise prices during peak hours, but lowers prices during off-peak hours. According to calculations, a household that uses 300 kilowatt-hours of electricity per month can save more than 20 yuan per month.

However, this plan only applies to residential electricity consumption and does not include commercial or industrial electricity consumption. Although a commercial and industrial version of the peak-valley plan was also provided, prices may increase during peak hours. In the end, CLP Power will neither make a profit nor a loss; it is simply using the profits from commercial and industrial electricity consumption to subsidize residential electricity consumption.

The board approved the plan out of consideration for the newly appointed chairman. After the plan was announced, it was met with widespread approval from the public, and even the number of registered users increased.

In fact, many households on Hong Kong Island still do not have electricity meters and rely on wiring for electricity. Many of them are connected to the electricity supply from companies and factories.

After peak-valley electricity pricing is implemented, using electricity from companies and factories will no longer be cost-effective. Many company dormitories have made special efforts to install electricity meters in every dormitory room.

The increase in user numbers is also a positive factor for the stock price.

While HK Electric and CLP Holdings, the two major electricity groups, have the authority to adjust electricity prices, they still need approval from the Urban Council. This is because the Hong Kong government subsidizes electricity for industrial use, and fluctuations in electricity prices will affect fiscal expenditures.

After several rounds of discussions, the Hong Kong government stipulated that, regardless of whether it is residential or commercial electricity use, the power company must provide two options for customers to choose from: those who wish to use peak-valley billing and those who do not wish to use it must maintain the original price and a unified billing system.

Users must not be forced to adopt peak-valley billing.

It was a fairly and reasonable solution. After Yin Zhaotang expressed his cooperation, the Municipal Council approved the new electricity price agreement. Without causing any losses to CLP Power, it seemed that the conditions for offering sacrifices to the gods had been successfully met. Peak-valley billing will definitely reduce citizens' electricity bills a little. Although it's not much, it's a matter of people's livelihood. Even small changes, accumulated over time, will amount to a significant amount.

As the Deputy Speaker of the Kowloon District Council, Hu Bochao contributed significantly to advancing the electricity price agreement. Afterwards, Yin Zhaotang specially invited him, Liao Zhihong, and Liang Chaoying to have drinks at Xiaotaoyuan.

Liang Chaoying strongly supported Yin Zhaotang's peak-valley plan, raising his glass in a toast and saying, "When Chinese capital acquires foreign firms, it needs to change its greedy and insatiable ways of exploiting the people. It needs to let the citizens know that when Chinese people are in charge, they are different from foreigners." Yin Zhaotang deeply agreed, clinking glasses with Liang Chaoying and sighing, "It's so difficult to be different from foreigners."

Chinese and Westerners are both human beings; their different ways of doing things stem from cultural and ideological differences. To coexist harmoniously with more powerful Westerners in an international city requires unwavering conviction.

Liang Chaoying drank his wine and said in a loud voice, "Even if it's difficult, we must do it. If capable people don't set an example, those who lack knowledge will only become more confused."

"When citizens watch TV dramas, the big bosses are all the same, whether they are Chinese or foreign. Who cares about Chinese or English?"

Hu Bochao nodded and said, "Whoever stands on the same side as the citizens, the citizens will recognize as one of their own. When MacArthur was governor, he developed the economy of Hong Kong Island, and ordinary people benefited. MacArthur also had a good reputation. Who cares whether he was kind-hearted or a foreigner?"

"After being elected president of the Teochew Chamber of Commerce, he stepped up to save the market after the stock market crash. After acquiring CLP Power, he formulated a peak-valley policy to benefit the citizens."

"Mr. Yin, you are truly impressive."

Yin Zhaotang said with a wry smile, "Let's get the brothers together and stop praising me all the time. If it weren't for Mr. Hu's help, we wouldn't have gotten approval for the new electricity pricing scheme."

CLP's electricity pricing scheme is under the jurisdiction of the Hong Kong Island Urban Council. Kadoorie has a good relationship with the Speaker of the City Council, yet he deliberately stands idly by, undoubtedly testing the power of the Chung Yee Group within the Urban Council.

If he couldn't resolve the issue, the Jews would have room to negotiate. Therefore, he had no choice but to ask Hu Bochao to act as an intermediary, and only by using the influence of the deputy speaker of the district council could he obtain the approval.

Hu Bochao shook his head: "Of course, once Mr. Leung is elected Speaker of the Hong Kong Island District Council, he will be able to better protect CLP."

With a smile, Leung Chiu-ying remarked, "There are too many capable legislators in the Hong Kong Island district. Based on seniority, it's not my turn yet."

Yin Zhaotang understood the implied meaning and asked in a deep voice, "Mr. Liang, do you intend to run for the next election?"

Liang Chaoying frankly stated, "The next speaker election will be in 2001. If we can't elect a speaker by 2001, it will be very difficult to advance further after 2007."

According to Leung Chiu-ying's plan, he should serve as a district council speaker before 1997, and then be transferred to one of the three departments and twelve bureaus after 1997 to become a powerful official, in order to have a chance to achieve great things.

This is the most standard promotion path for pro-establishment officials. If one relies on personal connections to skip the District Council Speaker position and directly enter the three departments and twelve bureaus, their resume will be somewhat lacking.

Although he wouldn't be so arrogant as to plot for the Chief Executive's position, as a politician, he's naturally inclined to meticulously calculate every step, striving to do the best possible job. Because every step forward will be the best of the best, and even a slight misstep could lead to disastrous consequences.

Yin Zhaotang patted him on the shoulder and said with a smile, "Brother-in-law, go for it, I will definitely support you."

"Thank you, Ah Tang." Liang Chaoying couldn't help but show a look of closeness on her face.

(End of this chapter)