HCMC – Vietnam Electricity Group (EVN) will raise the average retail electricity tariff by 4.8% starting tomorrow, May 10, marking the fourth adjustment since early 2023 as the State-owned energy conglomerate continues efforts to offset rising input costs and financial losses.
The average retail tariff will increase from the current VND2,103.11 to VND2,204.06 per kWh, excluding value-added tax (VAT), EVN said on May 9.
The hike adds VND100.94 per kWh.
This adjustment comes more than seven months after the last increase also of 4.8%, which was implemented on October 11, 2024.
EVN noted that the new rate has yet to fully cover operational expenses and accumulated losses in the power sector. However, the group said the increase had been carefully calculated to balance financial recovery while minimizing negative impacts on inflation, the economy, and household spending.
Since the beginning of 2023, EVN has raised electricity prices four times — by 3%, 4.5%, and twice by 4.8% — resulting in a cumulative increase of over 17%.
