Electricity price increased by 4.5%, to 2,006 VND/kWh

On the afternoon of November 9, Vietnam Electricity Group (EVN) announced an adjustment to retail electricity prices. Specifically, the electricity price was adjusted up by 4.5% (an increase under the authority of EVN). With the above price adjustment, the average retail electricity price increased by more than 86.41 VND/kWh.

Electricity prices to increase for the second time in 2023 due to high input cost pressure. Photo: Hoang Giam

Thus, the electricity price increased from 1,920.3 VND to the new price of 2,006.79 VND/kWh (excluding VAT).

This is the second time electricity prices have increased in 2023. Previously, on May 4, after 4 years of no adjustment, the average retail electricity price increased by 3%, from VND 1,854.44/kWh to VND 1,920.3732/kWh (excluding value added tax).

With the electricity price adjustment on November 9, the electricity price for level 1 customers (0-50kWh) is 1,806 VND/kWh.

Level 2 from 51-100kWh has a price of 1,866 VND/kWh.

Level 3 from 101-200kWh has a price of 2,167 VND/kWh.

Level 4 from 301-400kWh is 3,050 VND/kWh.

Level 5 from 401 kWh or more is 3,151 VND/kWh.

According to EVN's calculations, the cost of electricity production in 2023 will remain high, and the cost of electricity in 2023 will continue to be higher than in 2022. The cost of electricity production and business in 2023 is estimated at about 2,098 VND/kWh.

EVN believes that this electricity price adjustment will ensure that poor households and policy families are not significantly affected. According to statistics, in 2022, the whole country will have over 1.27 million poor households and social policy households receiving electricity support according to the Government 's policy.

Poor households and social policy households continue to receive support according to the provisions of Decision No. 28/2014/QD-TTg dated April 7, 2014 of the Prime Minister . In particular, poor households are supported with a monthly support level equivalent to the amount of electricity used by 30kWh/household/month. Social policy households with an amount of electricity used of no more than 50kWh/month are supported with a monthly support level equivalent to the amount of electricity used by 30kWh/household/month.

Electricity prices need to be brought back to the market mechanism, with State regulation. "We must consider very carefully and thoroughly the issue of regulating electricity prices, reflecting the market trend, to ensure sustainable development of the industry," the expert shared.

Source: https://vietnamnet.vn/gia-dien-tang-4-5-len-2-006-dong-kwh-2212995.html