Electricity prices to increase by over 15 percent

The Prime Minister has approved the Ministry of Industry and Trade’s proposal to raise the average price of electricity from VND1,058 per KWh in 2010 to VND1,220 by March 01. 

Along with the adjustment in electricity prices, the Government will issue a policy to support disadvantaged, low-income people and businesses in order to promote production and improve competitiveness.

Experts say the rise in electricity prices is inevitable because of price hikes of input materials to produce electricity such as coal, oil and gas.

Raising electricity prices will help the industry mobilise investment and loans to implement projects to meet the rapid growth in electricity consumption.

vov

>   SOEs doing well despite losses (18/02/2011)

>   Vietnam steps up trade promotions in Africa (17/02/2011)

>   AirAsia X connects Vietnam with Paris (17/02/2011)

>   Japan drugs firms eye opportunities in Vietnam (17/02/2011)

>   Auto sales down 17 percent in January (17/02/2011)

>   Retail sales of goods, services rise 22% in January (17/02/2011)

>   Petrol dealers call for price adjustment (17/02/2011)

>   Feed prices continue to climb (17/02/2011)

>   Local telecoms hook into global market (17/02/2011)

>   18 percent increase of electricity price doesn’t satisfy EVN (17/02/2011)