Electricity price to be more competitive

Prime Minister Nguyen Tan Dung has approved a decision to allow electricity prices to be adjusted under market mechanisms from June 1.

Decision 24/2011/QD-TTg allows electricity prices to be adjusted when there is a change in fuel prices or foreign exchange rates. The electricity price can not be adjusted more than once in three months.

If EVN wants to increase the price, it has to present a proposal to the Industry and Trade Ministry for approval within five days. If there is no response, EVN can increase the price automatically.

If the price needs to be increased by more than 5 percent, EVN has to apply to the ministry for Finance Ministry assessment and Prime Ministerial approval. If there is no response within 15 days, EVN can make the increase as proposed.

If necessary, the State can use the stabilisation fund to minimise impacts on the macro economy and social welfare. – VNS

Tags: Vietnam electricity, Vietnam electricity prices, Vietnam energy

Posted by VBN on Apr 19 2011. Filed under Energy. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry