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The cost of electricity will increase 3% starting Thursday, due to rising input and production costs.
The hike to VND1,920.37 (8.2 cents) per kWh, excluding VAT, decided by Vietnam Electricity (EVN) and approved by the Government and the Ministry of Industry and Trade marks the end of four years of unchanged electricity prices.
Vietnam’s electricity retail price had remained at VND1,864.44 per kilowatt-hour since 2019.
According to the Ministry of Industry and Trade, the electricity production cost stood at VND2,032.26 per kWh in 2022, a 9.27% increase from 2021.
EVN posted a loss of VND26.2 trillion last year, which it blamed on rising input and production costs.
