Minister: Govt Still Compensates 30 per cent for Power Firms Despite Price Hike
The government of Vietnam now has to compensate 30 per cent for losses by electricity companies despite recent price hike on average 8.92 per cent to VND948.5 (US$5.57 cents) per kWh, Minister of Industry and Trade Vu Huy Hoang told lawmakers.
Neither the MOIT nor the electricity sector propose power prices at rush hours, Hoang said, adding that rates will cover power price at other times and encourage companies to save electricity.
Vietnam is estimated to pay an additional VND6.4 trillion (US$376.47 million) for electricity during this year due to the government's decision to raise domestic average retail power price by 8.92 per cent from VND860/kWh to VND948.5/kWh from March. (Icon)
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