Electricity price rises 3%
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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.
Questions & Answers
Q.What will be the new electricity price per kilowatt-hour?
What will be the new electricity price per kilowatt-hour?
The new electricity price will be VND1,920.37 per kWh, excluding VAT. This translates to 8.2 cents per kWh.
Q.Who approved this electricity price increase?
Who approved this electricity price increase?
The price increase was decided by Vietnam Electricity (EVN) and received approval from the Government and the Ministry of Industry and Trade.
Q.When was the last time electricity prices in Vietnam changed?
When was the last time electricity prices in Vietnam changed?
Electricity prices in Vietnam had remained unchanged since 2019. This new increase marks the end of four years without a price adjustment.
Q.Why did Vietnam Electricity (EVN) post a loss last year?
Why did Vietnam Electricity (EVN) post a loss last year?
EVN reported a loss of VND26.2 trillion last year. They attributed this loss to rising input and production costs.
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