EVN given power to raise electricity prices on quarterly basis

The Ministry of Industry and Trade will allow the adjustment of power prices once per every quarter beginning from September 1, instead of the annual changes as current.

According to the ministry’s recent circular, any price adjustment should be made public.

State-owned Electricity of Vietnam (EVN) should check production costs that affect power prices 10 days prior to the end of every month.

EVN could be allowed to increase power price by a maximum of 5 per cent if power production costs rise. Any increase of over 5 per cent in prices must seek government approval.

If production costs decrease, EVN will be compelled to lower power prices by a maximum of 5 per cent.

The ministry has also given the nod to a power price stabilisation fund.

The government may use the fund to maintain power prices in urgent cases in order to prevent a negative impact to the country’s economy and living standards. – Dantri

Tags: Vietnam electricity, Vietnam electricity market, Vietnam energy