Proposal for EVN to increase or decrease electricity prices by less than 5%, once every 3 months

07/19/2023 16:09 Ha Linh Print article

ANTD.VN - The draft Decision replacing Decision No. 24/2017/QD-TTg regulating the mechanism for adjusting average electricity prices is being consulted by the Ministry of Industry and Trade , EVN is allowed to adjust electricity prices below 5%.

Proposal for EVN to increase or decrease electricity prices by less than 5%, once every 3 months photo 1

Will EVN be allowed to increase or decrease electricity prices by less than 5% each quarter?

According to this draft, the average electricity price will be considered for adjustment based on updated electricity generation costs according to basic input parameters in the electricity generation stage and other costs not included in the electricity price.

When the average electricity price decreases by 1% or more compared to the current average electricity price, the electricity price is allowed to be adjusted downward. Vietnam Electricity Group (EVN) is responsible for reducing the average electricity price at the corresponding level, preparing a report to the Ministry of Industry and Trade and the Ministry of Finance for inspection and supervision. This is a new content compared to current regulations.

In case the average electricity price needs to be adjusted to increase from 3% to less than 5% compared to the current average electricity price and within the prescribed price range, EVN decides to adjust the average electricity price to increase at the corresponding level.

After increasing the price, EVN prepared a report to the Ministry of Industry and Trade, the Ministry of Finance and the State Capital Management Committee at Enterprises for inspection and supervision.

In case the average electricity price needs to be adjusted to increase from 5% to less than 10% compared to the current average electricity price and within the prescribed price range, EVN is allowed to adjust the average electricity price to increase at the corresponding level after reporting and being approved by the Ministry of Industry and Trade.

Within 15 working days from the date of receiving full price plan documents from EVN, the Ministry of Industry and Trade is responsible for responding in writing for EVN to implement.

After making adjustments, EVN is responsible for reporting to the Ministry of Industry and Trade, the Ministry of Finance and the State Capital Management Committee at Enterprises.

In case the average electricity price needs to be adjusted to increase by 10% or more compared to the current average electricity price or adjusted outside the prescribed price range or affecting the macroeconomic situation, based on the electricity price plan submitted by EVN, the Ministry of Industry and Trade shall preside over and coordinate with the Ministry of Finance and the State Capital Management Committee at Enterprises to inspect, review and report to the Prime Minister for consideration and comments.

If necessary, the Ministry of Industry and Trade shall coordinate with the Ministry of Finance and the State Capital Management Committee at Enterprises to report to the Price Management Steering Committee before reporting to the Prime Minister.

The minimum time for adjusting the average electricity price is 3 months from the last adjustment of the electricity price. The adjustment of the average electricity price must be done publicly and transparently.

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