Electricity price increases 4.8% to over 2,204 VND/kWh from tomorrow

(Dan Tri) - The average retail price of electricity from May 10 increased by 4.8%, from 2,103.11 VND/kWh to more than 2,204.0655 VND/kWh. This price does not include value added tax (VAT).

At a press conference on the afternoon of May 9, Vietnam Electricity Group (EVN) announced that the average retail electricity price (electricity price) will increase from VND2,103.11/kWh to VND2,204.0655/kWh (excluding VAT), equivalent to an increase of 4.8%. The new electricity price will officially take effect from tomorrow (May 10).

EVN said that in order to ensure electricity supply for socio -economic development and people's daily life, the group has been implementing the National Power Supply and Operation Plan for 2025, in which the growth rate of commercial electricity in 2025 is expected to be about 12.2%, the total electricity output of the entire system in 2025 will increase by about 33.6 billion kWh compared to 2024.

Electricity prices increase by 4.8% from tomorrow (Photo: EVN).

Regarding the structure of power sources this year, low-cost hydropower sources only provide about 25% of the total system output; the remaining 75% of the system output is provided by high-cost power sources such as coal, gas, oil, renewable energy, etc.

For the system's additional power output, it is basically necessary to mobilize from high-cost power sources such as: oil-fired thermal power, liquefied natural gas (LNG) turbine thermal power and imported coal-fired thermal power. In addition, in recent times, the foreign exchange rate (USD) has been unpredictable and increasing. This affects the cost of power generation, which accounts for about 83% of the cost of electricity production.

In the context of rising power generation costs in recent years, EVN and its member units have drastically implemented cost reduction and savings with the requirement that by 2025, regular and major repair costs must be saved at least 10% and that they closely coordinate with the National Power System and Electricity Market Operation Company Limited to optimally operate the power system and electricity market to ensure safe and continuous power supply.

Source: https://dantri.com.vn/kinh-doanh/gia-dien-tang-48-len-hon-2204-dongkwh-tu-ngay-mai-20250509161919188.htm