Vietnam takes the fourth position in the access-to-electricity index in 2019 in the Association of Southeast Asian Nations (ASEAN), with 82.2 points, according to the World Bank’s Doing Business report.
Many households and enterprises in Vietnam have proposed continuing the solar power purchasing price at 9.35 cent per kwh, as applied before June 30.
With increasingly high demand for electricity and the latest 8.36 percent electricity price spike, Electricity of Vietnam Group (EVN) and other power generation companies have seen profits soar.
Credit growth had stood at about 8.18% as of August 15, 2018 and is expected to be curbed at around 17% this year, said Minister-Chairman of the Government Office Mai Tien Dung.
New preferential policies have encouraged both local and international firms to invest in renewable energy, according to authorities.
The plan to have 1,000 MW of wind power by 2025 will depend on the government’s policies and electricity prices.
Deputy Minister of Industry and Trade Do Thang Hai said the ministry has no plan to change electricity price in the immediate future.
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.
EuroCham, in its latest report about foreign investors’ views about Vietnam’s energy policies, pointed out that Vietnam’s ability to attract foreign direct investment (FDI) does not depend on the price of electricity.