Power Price Allowed to Rise at Least 7 Pct from Jan 10, 2014

The average electricity price will be adjusted to the price bracket approved by the Vietnamese Prime Minister and will only be increased from 7 percent onwards from the current rates specified in Decision 69/2013/QD-TTg dated November 11, 2013 issued by the Prime Minister. The interval for back-to-back price changes is at least six months.

 

The average power price adjustment must be made public and transparent. The State will use the Electricity Price Stabilisation Fund and employ other measures to stabilise electricity prices, where necessary, in order to minimise adverse impacts on macroeconomic stability and social security.

 

Every year, the Electricity of Vietnam builds electricity price plans to submit to the Ministry of Industry and Trade and the Ministry of Finance. The Ministry of Industry and Trade will chair the average power selling price consideration.

 

In case the average price adjusted is 10 percent or more from the current bracket and in excess of the limit, the Ministry of Industry and Trade is responsible for reporting to the Prime Minister after obtaining the advice from the Ministry of Finance.

 

This decision takes effect on January 10, 2014.