Wednesday,  Dec 12, 2018,22:14 (GMT+7) 0 0
Deputy PM orders electricity price management plan for next year
The Saigon Times Daily
Wednesday,  Nov 14, 2018,18:48 (GMT+7)

Deputy PM orders electricity price management plan for next year

The Saigon Times Daily

Deputy Prime Minister Vuong Dinh Hue at the meeting on November 13 - PHOTO: VGP

HCMC – Deputy Prime Minister Vuong Dinh Hue has required the Ministry of Industry and Trade to team up with other relevant ministries and agencies to draw up a plan to control the electricity price next year to keep inflation at some 4%, according to the Government news website.

At a meeting on the price management plan for next year with some ministries and agencies on November 13, Hue said the ministry must work with the Ministry of Finance, the National Assembly’s Economic Committee, the Vietnam Chamber of Commerce and Industry and other relevant agencies to direct Vietnam Electricity Group (EVN) to publicize the 2017 electricity price this month.

Last year’s electricity price will be used as a foundation for building next year’s electricity price management plan. The plan will later be submitted to the prime minister for consideration and approval.

Deputy Minister of Industry and Trade Dang Hoang An noted there will be no more electricity price hikes this year, as ordered by the prime minister.

However, this requirement, together with the higher prices of coal and fuels and other materials for electricity generation, has created problems for the energy sector.

Moreover, the El Nino weather phenomenon is forecast to strike Vietnam next year, causing droughts and thus affecting the operations of hydropower plants.

To ensure the effective operations of EVN, the Ministry of Industry and Trade has set the electricity retail price for next year based on the prime minister’s decisions, including Decision 24/2017/QD-TTg on the mechanism for adjustments to the average retail electricity price and Decision 34/2017/QD-TTg on the average retail electricity price framework in the 2016-2020 period.

At the meeting, Deputy PM Hue also assigned the Ministry of Health to coordinate with relevant ministries and agencies to prepare a circular guiding the adjustments to the base salaries of healthcare employees, in line with the Government’s Decree 72/2018/ND-CP on the statutory pay rate for public officials, public employees and armed forced personnel.

He also asked ministries, agencies and localities to keep a close watch on local and global market prices to ensure price stability in the remaining months of the year, especially during the Christmas and New Year holidays.

According to the Ministry of Finance and the General Statistics Office, the consumer price index this month is expected to remain unchanged or to dip. Thus, the target of keeping this year's inflation under 4% is achievable.

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