Electricity price climbs 4.8%

(ĐN) - Vietnam Electricity (EVN) announced that the average retail electricity price will be increased by 4.8% starting from May 10. Accordingly, the electricity price increases from VND 2,103.12 to VND 2,204.064 per kWh, excluding value added tax (VAT).

The increase aims at offsetting rising input costs as Vietnam becomes increasingly dependent on high-cost power sources such as coal, liquefied natural gas and renewable energy, EVN said that cost-effective hydropower is projected to account for just 25% of the national electricity output by 2025.
Commercial electricity demand is estimated to increase by 12.2% this year and the total system output expected to add 33.6 billion kWh, mainly from high-cost power sources.

Reported by H.L