Keep going!

- The new electricity price increase is 4.8%, is that a lot or a little?

- For businesses, rising costs certainly add pressure to operations. This is because increased costs will cause the price of products to skyrocket. Manufacturing businesses will be more affected than service businesses. In a fiercely competitive environment, higher production costs put even more stress on businesses. Raising prices is clearly always the last resort.

So, is there a way to fix it?

Many business leaders are immediately having to make decisions to cope with rising electricity prices. They are cutting costs wherever possible. Some businesses are considering shifting working hours to produce during off-peak hours. The advantage of this option is that electricity prices are nearly two-thirds lower than during peak hours. Businesses with the capacity to invest heavily will switch to using high technology to reduce electricity consumption. But whatever approach is chosen, it will affect profits or employee welfare.

- The more you expand, the more you shrink, which is certainly not what businesses aim for. Why does the electricity sector, which also includes businesses, frequently incur losses?

- Outside of the electricity sector, it's difficult for anyone to give a clear answer. Only healthy competition in electricity production and transmission can change the pricing structure and escape long-term losses. For businesses and consumers, the only option now is to persevere.

TU QUEO

Source: https://www.sggp.org.vn/rang-gong-post795599.html