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New electricity rates 8.9% higher
New market-based electricity rates signed by Prime Minister Nguyen Tan Dung on February 12 will take effect on March 1 this year.
Decision 21/2009/QD-TTg states that retail sales prices of electricity, excluding value added tax, will average VND948.5/kWh, up 8.92 percent over 2008.
Poor households and low-income families will be subsidized by the State.
This year, 35-40 percent of the prices for the first 1-50kWh used in daily life will be subsidized. Households consuming from 51-100kWh will be charged at the average price. These prices will be applied to all consumers who use power from the national grid.
Rural power traders who could not sell electricity at the new prices due to their conditions will be allowed to maintain their current prices of VND700/kWh until September this year.
Retail prices in areas not yet linked to the national grid will be decided on by provincial people’s committee after being submitted to the Ministry of Industry and Trade.
From 2010, ceiling prices will gradually be applied to production and service sectors. This will allow electricity companies to sell power at negotiated prices bellow the ceiling price under the guidance of the electricity regulator.
The Ministry of Industry and Trade in collaboration with the Ministry of Finance will adjust power prices every year based on the market.
The Industry and Trade Minister will approve prices that change less than 5 percent from the average passed for the previous year. If the adjusted level is 5 percent or higher, it will be approved by the Prime Minister.
VOV, VietnamnewS
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