From today (May 10), electricity prices increase

On the afternoon of May 9, at a press conference on power supply management at the headquarters of Vietnam Electricity Group (EVN), leaders of EVN and the Ministry of Industry and Trade announced Decision No. 599/QD-EVN on adjusting the average retail electricity price on May 7, and Decision No. 1279/QD-BCT of the Minister of Industry and Trade on adjusting the average retail electricity price.

Accordingly, the electricity price will be adjusted to increase by 4.8%/kWh, from VND 2,103.11/kWh (excluding VAT) to VND 2,204.0655/kWh (excluding VAT). The new electricity price will officially apply from tomorrow, May 10, 2025.

The most recent electricity price increase was on October 11, 2024, EVN adjusted the electricity price up by 4.8%, the new electricity price is 2,103.1159 VND/kWh (excluding VAT).

Thus, from 2023 to present, EVN has adjusted electricity prices 4 times and implemented within its authority, with increases of 3% and 4.5% and 4.8% and 4.8%.

From today (May 10), electricity prices increase

From 2023 to present, EVN has adjusted electricity prices 4 times.

According to Decree No. 72 regulating the mechanism and time for adjusting the average retail electricity price on March 28, when the average retail electricity price decreases by 1% or more compared to the current average retail electricity price, the electricity price is allowed to be adjusted down accordingly.

When the average retail electricity price increases by 2% or more compared to the current average retail electricity price, instead of 3% as previously regulated, the electricity price is allowed to be adjusted upward.

In case the average retail electricity price needs to be adjusted to increase from 2% to less than 5% compared to the current average retail electricity price, EVN will prepare a dossier on the average retail electricity price plan and report to the Ministry of Industry and Trade for inspection, review and comments.

In case the average retail electricity price needs to be adjusted to increase from 5% to less than 10% compared to the current average retail electricity price, EVN is allowed to adjust the average retail electricity price to increase at the corresponding level after reporting and being approved by the Ministry of Industry and Trade.

In case the average retail electricity price needs to be adjusted to increase by 10% or more compared to the current average retail electricity price, based on the electricity price plan submitted by EVN, the Ministry of Industry and Trade shall preside over the inspection, review and send it to relevant ministries and agencies for comments.

Based on the comments of relevant ministries and agencies, the Ministry of Industry and Trade will synthesize and report to the Government for consideration and comments. If necessary, the Ministry of Industry and Trade will coordinate with relevant ministries and agencies to report to the Price Management Steering Committee before reporting to the Government.

If any errors are found in the results of calculating electricity prices according to regulations, the Ministry of Industry and Trade is responsible for requesting EVN to stop adjusting or readjust the average retail electricity price.

EVN is responsible for implementing the request of the Ministry of Industry and Trade within 5 working days from the date of receipt of the request.

According to regulations, the minimum time for adjusting the average retail electricity price is 3 months from the last electricity price adjustment. In fact, the regulation on the operating time has been shortened from 6 months to 3 months and will take effect from May 15, 2024. However, in the past 10 months, the average retail electricity price has only been adjusted up once, in mid-October 2024 with an increase of 4.8% compared to the previous price, increasing from VND 2,006.79/kWh to VND 2,103.1159/kWh (excluding value added tax).

According to VTV

Source: https://baothanhhoa.vn/tu-hom-nay-10-5-gia-dien-tang-248244.htm