The ministry late last week held a press conference announcing the results of the inspection of EVN’s electricity production costs in 2021 and 2022.

The Electricity of Vietnam (EVN) has once again proposed to increase electricity prices to combat enormous losses, which may reach more than VND93 trillion (nearly US$4 billion) in 2022 and 2023.

Maintaining control over power prices exerts significant pressure on the electrical business, but rising electricity prices may expose the economy to the hazards of inflation.

The Ministry of Industry and Trade (MOIT) says that when adjusting electricity retail prices, all possible factors must be considered, including inflation prevention, people’s lives, and the government’s macroeconomic management.

Electricity price adjustments are being considered amid input material price increases.

Prime Minister Pham Minh Chinh recently chaired a conference on domestic consumption and exports in 2023.

Compared to the previous bracket, which has been applied since 2017, the floor price increased by VND220 and the ceiling price by VND538 per kWh.

Vietnam Electricity (EVN), the country's largest power company, has proposed a new price mechanism, one that is better tuned to input price fluctuations, for electricity.

Vietnam wants to develop clean energy but the development needs to be reasonable to ensure that retail prices are affordable for most people.

There will be no increase in electricity prices from now until the end of the year, the Ministry of Industry and Trade (MoIT) - the country's power regulator - announced yesterday during the ministry's monthly press conference.

The Minister of Industry of Trade Tran Tuan Anh has decided to withdraw the suggested plan to allow consumers to choose to pay electricity bills with either a multi-level or single-level price mechanism.

Two electricity officials in the central province of Quang Binh have been suspended following a case in which a local family was reported for an abnormally high electricity bill.

The Ministry of Industry and Trade issued a press release last night rejecting news on social media that 100% of local residents were happy with its move to increase electricity prices.

The Ministry of Industry and Trade (MoIT) has decided to cut power bills for businesses and households by 10 per cent over the next three months to ease their difficulties amid the COVID-19 pandemic.

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.

Electricity prices should be adjusted more frequently to better promote market competitiveness, said Tran Dinh Long, Vice President of the Vietnam Electricity Association.

 Electricity prices will be increased by 7.5 percent to an average of 1,622.05 VND per kWh from March 16, as approved by Prime Minister Nguyen Tan Dung at a Government meeting in Hanoi on March 5.

 VietNamNet Bridge – Investors of small-sized hydropower plants are up in arms after learning about the Ministry of Industry and Trade’s proposal to keep wholesale electricity prices unchanged for 20 years.

VietNamNet Bridge – Vietnam’s ever increasing energy demands mean developing renewable energy is an important priority in its national climate change strategy and efforts to minimize greenhouse gas emissions.