Lan Nhi
Workers install power lines in this file photo. Despite stable input costs, electricity tariffs may go up following a request by the Ministry of Industry and Trade to map out a price revision plan - PHOTO: EVN
The average electricity price has been kept stable at VND1,508.85 per kWh since August last year. At various meetings with the media, the ministry rejected questions about the possibility of power price hikes.
The ministry said at a meeting early this month that it had told the Electricity Regulatory Authority of Vietnam, the General
Department of Energy and Vietnam Electricity Group (EVN) to draw up a price adjustment plan for submission to the Prime Minister for consideration. However, the ministry did not clarify whether power prices would move up or down.
News site Vietnamnet cited a source as saying EVN had proposed increasing the average electricity price 9.5% this year, from VND1,508.85 per kWh to VND1,652.19. A leader of EVN declined to comment on this information.
Under the Prime Minister’s Decision 24, power prices can be adjusted only when input costs change compared to the ones used to calculate current prices.
However, cost parameters are quite stable, with the coal price unchanged and oil prices falling in line with declining oil prices on global markets.
EVN is allowed to increase the power price by 5% if input costs fluctuate higher than 5%. A rise of over 5% needs approval of the ministry and the Government.
The General Department of Energy and EVN are told to consider and prepare a road map for next year’s power tariffs adjustments in line with the market mechanism. In addition, it is likely that the increase in the power transmission could be a decisive factor behind the power price hike.
According to the Electricity Regulatory Authority of Vietnam, the mechanism used to set the transmission cost will be adjusted up and account for 10-12% of the average electricity price like in many other countries, instead of 5.7%, to balance the financial capacity of National Power Transmission Corporation.
Đăng ký: VietNam News
