Wednesday, December 19 2018

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Deputy PM requests suitable time for power price changes next year

Update: November, 15/2018 - 09:00
Deputy Minister of Industry and Trade Đặng Hoàng An said the power sector would be able to ensure supplies in 2019. — Photo EVN
Viet Nam News

HÀ NỘI — Deputy Prime Minister Vương Đình Huệ has asked for electricity prices to be adjusted at appropriate times next year to keep inflation in 2019 at under 4 per cent.

He made the request while chairing a recent meeting on price management for the next year.

Deputy Minister of Industry and Trade Đặng Hoàng An said to realise the Government’s resolution, electricity prices had not been raised in 2018 to help control inflation as targeted by the National Assembly.

He said the power sector would be able to ensure supplies for 2019.

Although retail prices have been kept unchanged, input costs have been rising, and gas supply for power generation has hit its exploitation limit. Meanwhile, El Nino is forecast to hit Việt Nam and cause drought next year, affecting the operation of hydropower plants.

All these factors had caused and would cause difficulties for the sector, An noted.

According to the Ministry of Finance and the General Statistics Office, the consumer price index (CPI) in November was likely to stay flat or decline, helping keep this year’s CPI hike under 4 per cent.

Huệ ordered relevant ministries and sectors to keep a close watch on domestic and global prices through December to ensure supply and demand and stable prices, especially in the Christmas and New Year holidays.

They also needed to build price scenarios and adjust public service prices in line with the inflation target for next year. — VNS

 

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