The conflict in the Middle East has triggered a global energy crisis that serves as a “yellow warning” for Hong Kong, which so far has escaped the severe impact seen elsewhere, tycoon Michael Kadoorie has said.

“At this point, I think we’re very lucky. Now we touched on the story of fuel. It may impact us. It does already send a warning light,” the CLP Group chairman said. “So you have your traffic lights red, yellow and green. Well, we’re yellow. We’re not at red, but we have to think ahead as to how we’re going to generate light.”

Kadoorie said the electricity provider maintained access to multiple fuel sources, including natural gas and nuclear energy from mainland China, while coal and oil were other options.

He acknowledged the unpredictability of the Middle East situation but assured customers that their daily power supply was secure for the foreseeable future.

“Who knows what the Middle East is going to do? Nobody knows. But we’re not reliant on [the] Middle East. We have other sources. So don’t worry, you can turn your lights on tomorrow,” he said.

CLP, which marks its 125th anniversary this year, had built a buffer into its scheme of control agreement with the government to help mitigate the initial impact of rising global fuel prices, his son, non-executive director Philip Kadoorie, said.