With the 3 percent retail electricity price increase from VND1,864.44 per kwh to VND1,920.3732 per kwh, commencing from May 4, EVN will have VND8 trillion more from now to the end of 2023.

Minister of Industry and Trade Do Thang Hai said an electricity price adjustment is being considered, but noted that it is impossible to adjust the electricity price in a short cycle as is now being done to gasoline prices.

The Ministry of Industry and Trade has been gathering feedback on a proposal of Vietnam Electricity Group (EVN) for increasing electricity prices.

As the government in the past set attractive electricity prices using the FIT (feed in tariff) mechanism, a boom period of renewable energy occurred.

The power sector is in a difficult period because of the global fuel crisis. Higher production costs and higher cost prices compared to selling prices all have put the sector at risk.

The two electricity price systems which the Ministry of Industry and Trade (MOIT) has designed will not have a big impact on most people.

The Ministry of Industry and Trade (MOIT) is collecting opinions about the new draft electricity prices. For daily household use, there would be five instead of six electricity price levels.

Vietnam has become an importer of coal, oil and gas, but experts have warned against a high reliance on imports.

The Ministry of Industry and Trade (MOIT) has received many questions related to electricity pricing, including retail prices for household use and price adjustment frequency.

An electricity shortage did not occur in 2010-2019, but it may face a problem in 2021-2025 as a series of electricity generation projects have been going slowly.

As of August 23, 45,299 rooftop solar power projects had become operational with total capacity of 1,029 MWp, according to the Electricidty of Vietnam (EVN).

Vietnam needs an electricity power policy under which the market rules, investors make a profit, and the poor can afford electricity.

Electricity consumers complain that retail electricity prices keep increasing.

The Electricity Regulatory Authority (ERA) has changed the proposal of allowing household consumers to choose to pay electricity bills under either a multi-tiered price or single-price mechanism.

The Ministry of Industry and Trade (MoIT) has decided to cancel plans for a single price model to calculate power tariffs after receiving feedback from relevant ministries and experts.  

When the competitive electricity retail market takes shape, EVN will no longer be the only retailer and people will be able to choose their retailer and negotiate prices.

If the single price of VND1,864 per kwh, which is equal to the average retail price, is set, millions of clients will have to pay more for electricity bills.

Under a ministry proposal, consumers would pay for electricity use under either a 5-tier price system or a single-price system.

A solution for the power industry has been put into discussion: selling entire power plants to investors after they are put into operation.