10 percent cut in electricity prices proposed to help ease COVID-19 impact
The Ministry of Industry and Trade has sent a report to the Prime Minister, proposing a reduction in the prices of electricity for three months to help ease difficulties facing production and business in the context of the ravaging COVID-19 epidemic.
Staff at the Hanoi's Bac Tu Liem power company inspect a transformer station (Photo: VNA)
Hanoi (VNA) – The Ministry of Industry and Trade has sent a report to thePrime Minister, proposing a reduction in the prices of electricity for threemonths to help ease difficulties facing production and business in the contextof the ravaging COVID-19 epidemic.
In thedocument, dated April 1, the ministry proposed that in the April – June period,the price of electricity for household consumption of up to 300kWh be cut by 10percent. By so doing, it will suffer a loss of 2.930 trillion VND (about 124million USD).
A cutof the same level was also proposed for production and business customers whichwill set the ministry back by 6 trillion VND. As for the accommodationcustomers, the electricity price for them will be reduced to that of theproduction households and this will lead to a loss of 1.8 billion VND for theministry.
Besides,it also proposed the exemption of electricity costs for concentrated quarantineand treatment establishments related to the COVID-19, the total losses fromwhich will amount to 100 billion VND.
As a result,the ministry’s revenue this year from the sale of electricity will fall bynearly 11 trillion VND.
Itsaid cost-saving measures will be applied within the ministry to help offsetthe losses./.
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Staff at the Hanoi's Bac Tu Liem power company inspect a transformer station (Photo: VNA) 
