Audit finds loss of more than 20 trillion VND at EVN
In its recently audited financial report, Vietnam Electricity (EVN) Group announced a loss of 20 trillion VND, attributing it to the acquisition of electricity at costs exceeding its selling prices.
EVN incurred loss in 2022 as its cost of production was higher than the electricity sale. (Photo: VNA)
Hanoi (VNS/VNA) - In its recently audited financialreport, Vietnam Electricity (EVN) Group announced a loss of 20 trillion VND,attributing it to the acquisition of electricity at costs exceeding its sellingprices.
The report disclosed that EVN had suffered a loss of 20.7 trillionVND in 2022. While the company earned over 372.9 trillion VND from electricitysales in 2022, its cost of production was considerably higher, reaching 402.6trillion VND. This figure was a significant increase from the cost of 331.6trillion VND in 2021.
Earlier, an audit by the Ministry of Industry and Trade discoveredthat the total expenditure for power production and business operationsamounted to 419 trillion VND in 2021 and swelled to 493.2 trillion VND in 2022.
The production cost in 2021 was 1,859.9 VND per kWh, marking a1.84% increase from 2020. This cost saw a further surge in 2022, amounting to 2,032.26VND per kWh, which was 9.27% higher than in 2021.
Contrastingly, the average retail price in 2022 was just 1,854.44 VNDper kWh. This meant that the production cost was 177.82 VND per kWh more thanthe average price at which electricity was sold.
Beginning May 4, the average electricity price witnessed a 3% increaseto 1,920.3732 VND per kWh./.
The average retail price of electricity increases 3% to 1,920.373 VND (0.082 USD) per kWh from May 4, following a decision by the Vietnam Electricity (EVN) on adjusting the electricity retail prices.
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EVN incurred loss in 2022 as its cost of production was higher than the electricity sale. (Photo: VNA) 
