Retail electricity price adjusted to 2,204 VND/kWh from May 10

Head of EVN Group's Business Department Nguyen Quoc Dung announced the adjustment of retail electricity prices. Photo: T.Hoa

Accordingly, EVN issued Decision No. 599/QD-EVN on May 7 on adjusting the average retail electricity price. Specifically, the average retail electricity price from May 10 will be adjusted to more than 2,204 VND/kWh (excluding value added tax).

The retail price of electricity for household customers is calculated according to 6 levels adjusted as follows: Level 1, for kWh from 0-50, the adjusted electricity price is 1,984 VND/kWh; level 2 (for kWh from 51-100), the price is 2,050 VND/kWh; level 3 (for kWh from 101-200), the price is 2,380 VND/kWh; level 4 (for kWh from 201-300), the price is 2,998 VND/kWh; level 5 (for kWh from 301-400), the price is 3,350 VND/kWh; level 6 (for kWh from 401 and above), the price is 3,460 VND/kWh.

According to Mr. Vo Quang Lam, Deputy General Director of EVN, adjusting electricity prices has a certain impact on increasing the CPI index.

Mr. Vo Quang Lam discussed information about electricity price adjustment. Photo: TH

In the recent period, EVN has cooperated with the General Statistics Office ( Ministry of Finance ) to monitor the development of CPI index, input index for electricity production and business as well as indexes affecting the national GDP. Particularly, the retail electricity price adjustment from May 10 will affect 0.09% of the national CPI.

The Deputy General Director of EVN also informed about the context of high input fuel costs for electricity production. Specifically, to match the GDP growth forecast for 2025, from the end of 2024, EVN has built an operating scenario to achieve commercial electricity growth of about 12.2%. This growth is equivalent to 33.6 billion kWh.

Closely following the hydrological situation of 2025, EVN forecasts that hydropower will decline, with a shortage of about 7 billion kWh, so the additional 33.6 billion kWh will be offset by electricity produced from high-cost power plants such as gas-fired power, coal-fired power, and oil-fired power.

In particular, coal-fired thermal power will grow in plants using imported coal in the Central and Southern regions.

Meanwhile, in the first four months of the year, the cost of imported coal, gas and oil continued to increase. For these reasons, EVN must regularly review and calculate to report to competent authorities to adjust electricity prices.

“The adjustment of electricity prices from May 10 was carefully considered based on input costs, fluctuating costs, and payment levels of people and businesses, to harmonize with needs, especially ensuring social security. After careful calculation and assessment of the impact on CPI and the economy , EVN proposed and issued a decision to increase electricity prices by 4.8%. This price increase is considered relatively appropriate,” Mr. Vo Quang Lam emphasized.

Source: https://hanoimoi.vn/electricity-lease-price-adjusted-to-2-204-dong-kwh-tu-ngay-10-5-701725.html