Vietnam says no to electricity price hike

The Ministry of Industry and Trade has said no to the proposal to raise electricity price by the Electricity of Vietnam.

Minister Vu Huy Hoang said the price hike must be mulled over as the government has asked ministries and agencies to take measures to control prices and avoid sudden changes of essential goods.

Electricity of Vietnam were able to implement only 24.5% of the year investment and construction plan in the first 5 months of the year due to lack of capital for key projects, Duong Quang Thanh, deputy CEO of EVN said.

The group also cut VND12 trillion investments in Jan- May to follow the government’s Resolution 11, but it is still thirst for capital, Thanh said, stressing that if the electricity prices are not raised, the industry conditions will be very difficult this year and the next. – Stoxplus.com

Tags: Vietnam electricity, Vietnam electricity prices, Vietnam energy

Posted by VBN on Jun 10 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