Vietnam Electricity (EVN) has proposed a regional electricity price framework for offshore wind power projects, with the highest suggested rate in the northern region reaching VND3,975.1 per kWh, equivalent to approximately US$0.15.

Affordable and competitive electricity rates play a vital role in ensuring consistent revenue streams for private enterprises, encouraging their participation in Vietnam's domestic energy market.

Although electricity prices were increased twice in 2023, Vietnam Electricity (EVN) reported an after-tax loss of VND26.77 trillion (US$1.053 billion) on high electricity production costs, according to its audited financial report.

VOV.VN - The General Statistics Office (GSO) announced on May 29 that the May consumer price index (CPI) inched up by 0.05% on-month, with this mostly being due to increases occurring in the prices of pork meat and electricity.

VOV.VN - The consumer price index (CPI) rose 3.77% in the first quarter of 2024 compared to the same period last year, with core inflation standing at 2.81%, reported the General Statistics Office (GSO).

In an effort to address financial challenges faced by Vietnam Electricity (EVN), the Ministry of Industry and Trade (MoIT) has put forth a proposal to increase electricity prices in 2024.

National Assembly Vice Chairman Nguyen Duc Hai, head of the NA Standing Committee’s Supervisory Delegation on the enforcement of energy development policies and laws during the 2016-2021 period, attended a seminar on Vietnamese electricity pricing policies and market held in Hanoi on July 18.

An 20.8% increase in the base salary for civil servants, public employees, and members of the armed forces from July 1 will lead to rises in prices of other goods and services, which may put a pressure on curbing 2023’s inflation, according to General Director of the General Statistics Office (GSO) Nguyen Thi Huong.

Representatives of ministries and sectors highlighted measures to achieve the GDP growth target for 2023 at the Government’s regular press briefing on April 3.

VOV.VN - The Ministry of Industry and Trade (MoIT) will carefully consider all options to adjust electricity prices reasonably, said MoIT deputy minister Do Thang Hai referring to Electricity of Vietnam (EVN)’s proposal to hike retail electricity prices.