No electricity price hike to compensate for non-core investment loss

Deputy Prime Minister Vu Van Ninh said from now to year-end, it requires throughout calculation before giving decision to raise electricity price or not.

The timing of the upward price adjustment should be mulled over and the government will not approve the EVN’s proposal of increasing electricity prices to cover its non-core sector investment losses, the Deputy Prime Minister Vu Van Ninh told local online newspaper VnExpress on the sideline of the NA opening session of biannual meeting on Oct.20
The Deputy Prime Minister stressed that “The electricity price adjustment should be based on the country’s economic conditions, it is not (necessary) that electricity prices will be raised every 3 months (read Circular 31) . For instance, we did not raise the electricity price from March to curb inflation, solve problems in production and public life” Ninh said.
Currently, public raised concerns on news that EVN’s proposal to increase electricity prices from early November. However, EVN confirmed that there will be no price hike.
It is reported that EVN invested VND2.1 trillion or 2.8% of its chartered capital into the non-core sectors by mid-September
Electricity prices were adjusted up 15.28% on average in the early March of 2011.
Source TEI/News Writer/Stoxplus

Tags: Vietnam energy, Vietnam energy industry, Vietnam Energy sector

Posted by VBN on Oct 22 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