EVN Asked To Submit Power Prices at Morning Peak Hours before August 10

On July 22, the government of Vietnam asked state-owned Electricity of Vietnam (EVN) to submit a power price adjustment plan for peak morning hours, which are from 9:30am to 11:30am daily, before August 10.

 

On June 30, the Ministry of Industry and Trade (MOIT) proposed that the government of Vietnam cut electricity prices by 20 per cent during peak morning hours from the current price of VND1,897/kWh beginning August 1.

 

The proposal aims to foster production at small and medium-sized enterprises across the country, which buy electricity from stations with a voltage of 35/22 kV and downward with prices of up to VND3,100 per kWh of power consumed during morning peak hours, much higher than the average price of VND948.5/kWh.

 

From March 1 to May 1, a survey conducted by the ministry showed that between 63 per cent and 72 per cent of the 400,000 clients surveyed said that their demand for power grew less than 10 per cent during peak hours in the morning.

 

Meanwhile, between 13.28 per cent and 15.17 per cent of them had an increase in demand of over 20 per cent at morning peak hours, said the ministry.

 

On March 1, Vietnamese authorities raised the average power price by 8.92 per cent to VND948.5 (55.7 cents) per kWh excluding value-added tax (VAT) from the previous VND860 (50.5 cents) per kWh.

 

This year, Vietnamese customers are estimated to pay an additional VND6.4 trillion (US$376.47 million) to the electricity sector due to the hike of the retail power price. (Laborer, VietNamNet)