Vietnam Electricity Group (EVN) has announced to raise the power price to an average VND1,304 from VND1,242, excluding value-added tax, from Tuesday, Dec 20.
Vietnam Electricity Group (EVN) has announced to raise the power price to an average VND1,304 from VND1,242, excluding value-added tax, from Tuesday, Dec 20.
The power price for the first 50 kWh of poor households and users using less than 100 kWh will be kept unchanged, according to EVN.
Previously, EVN presented a proposal of increasing power price by 5% from the current price and got permission from the Ministry of Industry and Trade.
The power price rose by 15.28% in March. According to the Prime Minister’s decision issued on April 14, the period between two power price adjustments must be at least three months instead of one year like currently. Furthermore, any power price hike of no more than 5% requires no approval from the Government if the input costs rise accordingly.
EVN explained in recent meetings with relevant agencies that the group was in need of capital for its projects which had fallen behind schedule.
Besides, the group incurred losses of over VND8 trillion last year and has owed Vietnam Oil and Gas Group and Vietnam Coal and Mineral Industries Group a total of around VND10 trillion.
(Source: SGT)
