The average electricity retail price will officially rise today to VNĐ1,720 (7.6 US cents) per kWh, increasing 6.08 per cent from the current tariff of VNĐ1,622 (7.1 cents) per kWh.
The Ministry of Industry and Trade (MoIT) is drafting regulations on new retail prices for electricity, aiming to lower electricity prices for hotels in order to strengthen the tourism sector and hike prices for electricity-guzzling households in an effort to incentivise lower consumption.
The Government is not considering a hike in power tariffs, said Đỗ Thắng Hải, Deputy Minister of Industry and Trade (MoIT).
Deputy Prime Minister Vương Đình Huệ has asked the Ministry of Industry and Trade (MoIT) to calculate retail power price adjustments every six months instead of three as it proposed.
The Ministry of Industry and Trade (MoIT) has not yet decided to adjust power tariffs this year and has been calculating basic prices, the ministry yesterday announced at an electricity production cost conference in Hà Nội.
A proposal to allow Electricity of Việt Nam (EVN) to set retail prices has been criticised for granting excessive power to the national utility as well as the Ministry of Industry and Trade (MoIT).
Việt Nam should enhance clean and renewable energy resources as well as promoting energy saving, said Lê Tuấn Phong, deputy director of the General Directorate of Energy under the Ministry of Industry and Trade.
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.