CLP Group, the Hong Kong-listed owner of EnergyAustralia, says the local power generator and retailer will expand its battery, solar and electric vehicle offers to customers as part of a “path to recovery” after reporting an operating loss.

Operating losses before movements in derivative contracts narrowed to $HK182 million ($35.5 million) in the 12 months to December 31, from $HK2.33 billion in 2022, CLP said. The group had already advised last month of a $HK2.9 billion write-down on EnergyAustralia’s power and gas retailing business that dragged the bottom line into the red, due to increased competition and a higher cost of capital.