Assign EVN to develop plan to adjust electricity price

The Government Office has just issued Notice 348 on the conclusions of Deputy Prime Minister Le Minh Khai - Head of the Price Management Steering Committee - at the meeting of the Price Management Steering Committee on the results of price management and operation in the first 7 months of 2023.

In particular, it is required to urgently complete the amendment and supplement of regulations on the mechanism for adjusting the average retail electricity price in Decision 24/2017 of the Prime Minister, and report to the Prime Minister this August. At the same time, the Ministry of Industry and Trade needs to amend Decision 28/2014 of the Prime Minister regulating the structure of retail electricity prices, and report to the Prime Minister in September.

The Deputy Prime Minister also noted that EVN needs to develop a plan to adjust electricity prices and propose a suitable adjustment time.

Previously, regarding the amendment of Decision 24, the Ministry of Industry and Trade proposed to shorten the adjustment period from 6 to 3 months at a time, and add regulations to reduce electricity prices. With Decision 28 on the structure of retail electricity prices, the ministry also plans to reduce the retail electricity price list from 6 to 5 levels. Electricity prices range from 1,728 - 3,457 VND/kWh, excluding value added tax.

In his instructions, the Deputy Prime Minister also noted that EVN needs to develop a plan to adjust electricity prices and propose an appropriate adjustment time to limit the impact on economic recovery and development. In his comments on the draft decision to replace Decision 24, EVN also proposed that the mechanism for adjusting the average electricity price will increase or decrease with a clearly defined amplitude.

Specifically, if the average electricity price decreases by 1% or more compared to the current average electricity price and within the price range, EVN will reduce the price by the corresponding amount, prepare a report to the Ministry of Industry and Trade and the Ministry of Finance for inspection and supervision. Similarly, if the average electricity price needs to be adjusted to increase by 3% to less than 5% compared to the current price and within the price range, EVN is allowed to adjust the price by the corresponding amount. In addition, EVN also agreed with the Ministry of Industry and Trade on the minimum time to adjust the average electricity price to be 3 months, from the most recent electricity price adjustment...

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