Electricity prices will not rise in June
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The Electricity of Vietnam Group (EVN) said it would not increase electricity prices in June, despite taking losses.
“The group has suffered losses, but we cannot increase power prices as the country’s economic conditions remain difficult,” EVN deputy general director Dinh Quang Tri toldVnExpress.
Meanwhile, the Electricity Moderation Department under the Ministry of Industry and Trade said it would soon finish a fact sheet outlining the implementation of Decision 24 by the prime minister about the adjustment of power prices based on market conditions from June 1.
Under the Decision, if market changes cause electricity production costs to increase by 5 percent, EVN will raise power prices at the same rate, subject to approval from the Ministry of Industry and Trade.
Within five business days, the Finance Ministry will give its feedback to the Ministry of Industry and Trade, which will then perfect the plan and submit it to the prime minister.
Within 15 days of receiving the plan, if the prime minister has no opinion about it, EVN has the right to increase electricity prices by 5 percent.
The average price of power has increased by 15.28 percent since March 1, but both the ministries of Finance, and Industry and Trade said the rate was too low and the electricity sector still suffers losses.
