To minimize the impact on the economy and people's lives, implementing the direction of the Ministry of Industry and Trade, Vietnam Electricity Group issued Decision No. 1416/QD-EVN dated November 8, 2023 on adjusting the average retail electricity price, accordingly the average retail electricity price is 2,006.79 VND/kWh (excluding value added tax) from November 9, 2023. This adjustment is equivalent to an increase of 4.5% compared to the current average retail electricity price.
Previously, based on Decision No. 24/2017/QD-TTg dated June 30, 2017 of the Prime Minister stipulating the mechanism for adjusting the average retail electricity price; based on Document No. 915/BCT-DTĐL dated November 8, 2023 of the Ministry of Industry and Trade; on November 8, 2023, the Ministry of Industry and Trade issued Decision No. 2941/QD-BCT dated November 8, 2023 stipulating the electricity price, in which retail electricity prices are issued for groups of electricity customers and retail electricity prices for electricity retailers.
Basically, 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 will 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 electricity usage of no more than 50kWh/month are supported with a monthly support level equivalent to the amount of electricity used by 30kWh/household/month.
Vietnam Electricity Group respectfully informs customers using electricity and EVN hopes to continue receiving the sharing and support of customers for the Group's production and business activities.
On March 31, 2023, the Ministry of Industry and Trade announced the results of the inspection of EVN's electricity production and business costs in 2021 and 2022 according to the provisions of Decision No. 24/2017/QD-TTg. The results of the inspection of EVN's electricity production and business costs in 2021 and 2022 showed that the cost of electricity production and business in 2022 was VND 2,032.26/kWh, an increase of 9.27% compared to 2021.
According to 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.
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