The Ministry of Industry and Trade has sent a report to the Prime Minister, proposing a reduction in the prices of electricity for three months to help ease difficulties facing production and business in the context of the ravaging COVID-19 epidemic.
Vietnam Electricity (EVN) should stick to its tiered pricing model, said researchers in a conference on this week in Hanoi.
Deputy Prime Minister Vuong Dinh Hue has asked that electricity prices, which affect many sectors, be adjusted at appropriate points of time next year so as to keep inflation in 2019 at under 4%.
Deputy Prime Minister Vuong Dinh Hue has requested the Electricity of Vietnam (EVN) to review loss-making projects to ensure investment flows for its production and business.
Vietnam is negotiating with Laos on electricity prices as it may need to import power from the neighbor for its fast growing economy, local media has reported, citing trade deputy minister Hoang Quoc Vuong.
Prime Minister Nguyen Xuan Phuc has ordered electricity prices and toll fees to be kept stable this year to control inflation and allow the economy to grow, according to the government website.
The Ministry of Industry and Trade has issued a new frame of the prices of electricity for family activities to be applied since March 16 in conforming to the recent approval of Prime Minister for the Electricity of Vietnam (EVN) to increase it by 7.5% this year.
Electricity prices will be increased by 7.5% to an average of VND1,622.05 per kWh from March 16, as approved by Prime Minister Nguyen Tan Dung at a Government meeting in Hanoi on March 5.
The past week was marked by reciprocal visits by Vietnamese and foreign leaders, a government conference on development tasks for 2012, an announcement of the 2011 inflation rate and Christmas celebrations across the country.
The price of electricity increased by 5 percent to VND1,304/kWh excluding VAT as of December 20, announced Electricity of Vietnam (EVN).
Electricity prices are expected to increase by 4.6 percent in 2012, Minister of Finance Vuong Dinh Hue told the National Assembly on November 24.
The Prime Minister has approved the Ministry of Industry and Trade’s proposal to raise the average price of electricity from VND1,058 per KWh in 2010 to VND1,220 by March 1.