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Wholesale electricity prices to increase by 2-5%

Update: May, 16/2016 - 09:00
Under the decision, the EVN's wholesale electricity prices sold to its corporations would not be higher than the maximum and minimum prices. — Photo cand.com.vn

Viet Nam News -HÀ NỘI — The Electricity of Viet Nam (EVN)’s wholesale electricity prices sold to its power corporations in 2016 would be increased by two to five per cent over last year.

The Ministry of Industry and Trade has issued Decision No 1797/QĐ-BCT on the wholesale electricity price frame. Specifically, the highest surge would be wholesale price sold to the Central Power Corporation with the rise of five per cent. Of which, the maximum price would be increased from VNĐ1,135 to VNĐ1,200 per kWh while the minimum price would be higher between VNĐ1,066 and VNĐ1,119 per kWh.

The maximum price sold to the Northern Power Corporation and Hà Nội Power Corporation would be increased by four per cent while those of HCM City Power Corporation and Southern Power Corporation would be three per cent higher than the current level.

The minimum prices sold to the Northern Power Corporation, Southern Power Corporation, Hà Nội Power Corporation and HCM City Power Corporation would be increased by two per cent.

Under the decision, the EVN’s wholesale electricity prices sold to its corporations would not be higher than the maximum and minimum prices. EVN would issue specific wholesale electricity prices for each corporation.

The group would have to calculate and submit to the ministry for approval if they want to adjust the prices to suit with changes in production costs, turnover and profit.

The prices have been applied for the entire year.

EVN yesterday confirmed that the group has not had any proposal for a power tariff increase this year.

“The EVN’s wholesale electricity prices sold to its corporations in the year of 2016 are internal prices with an aim to improve transparency in management and would not affect to the current power prices,” Đinh Quang Tri, EVN’s Deputy General Director, said. – VNS

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