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Saturday, October 16, 2021

Electricity pricing adjustment scheme shelved

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HCMC – The Ministry of Industry and Trade has asked Prime Minister Nguyen Xuan Phuc for permission to put off making a household electricity pricing adjustment until the coronavirus is completely eliminated as a threat.

State-owned utility Vietnam Electricity (EVN) sent an electricity pricing revision report to the ministry on December 30, 2019. Based on the report, the ministry has developed electricity retail price adjustment options and sent them to the relevant agencies, ministries, departments, local authorities, organizations and associations to ask for suggestions.

As of March 26, the ministry had received 130 suggestions, based on which it completed the electricity retail tariff adjustment options and sent them to the prime minister for consideration.

However, on March 31, the ministry proposed postponing the electricity tariff adjustment until the coronavirus is completely eliminated, explaining that the Government, agencies and ministries are busy responding to the pandemic and its aftermath.

The ministry earlier introduced a draft on the electricity price adjustment, proposing five electricity rates based on the levels of electricity consumption, instead of the previous six rates.

According to the draft, electricity rates will increase progressively from the first to the fifth price cap, with the first cap set at 0-100 KWh; the second cap, 101-200 KWh; the third, 201-400 KWh; the fourth, 401-700 KWh; and the fifth, 701 KWh or more.

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