Hanoi (VNA) – Deputy Minister of Industry and Trade Do Thang Hai said the ministry has no plan to change electricity price in the immediate future, adding that oil-fuelled generation of electricity accounts for les🌄s than 1 percent of total output so fluctuating oil prices do not impact electricity prices.
Speaking at the Government’s regular press briefing on January 29, the deputy minister also said the ministry has not received any proposal on the matter from the Electricity of Vietnam.
According to the deputy minister, the electricity sector is forecast to face many difficulties this year, as the El Nino phenomenon has caused water shortages for many hydropower plant reservoirs. He said the total water volume at the reservoirs is about 6.5 billion cu.m less than normal, while they still have to supply water for downstream localities.
The official assured, however, that except for extraordinary weather change, the electricity sector will be able to ensure electricity supply for both consumption and production.-VNA
Electricity prices will be increased by 7.5 percent to an average of 1,622.05 VND per kWh from March 16, as approved by Prime Minister Nguyen Tan Dung at a Government meeting in Hanoi on March 5.
The 7.5 percent increase in electricity prices from March 16 is forecast to raise this year’s consumer price index (CPI) by 0.23 percent, said Nguyen Anh Tuan, Director General of the Ministry of Industry and Trade’s Electricity Regulatory Authority.
The hike will translate into an additional 4,800 VND (0.22 USD) for each household consuming 50 kWh of power a month, while those using 100 kWh a month will pay about 9,800 VND (0.46 USD) more, he said.
Prime Minister Nguyen Tan Dung has agreed to use money from the state budget to subsidize electricity prices for residents in island communes and districts and poor households.
The Electricity of Vietnam (EVN) and the Vietnam Coal and Mineral Industries Group (Vinacomin) have assured electricity prices will remain unchanged until the end of the year.
The new power tariffs will not raise prices for households while increasing revenue for the sector, an official of the Electricity of Vietnam (EVN) said.
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