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EVN calls for power price hikes
Electricity of Viet Nam (EVN) has sought Government approval to hike power tariffs this month to recoup the losses it has suffered and prevent future losses.
At a meeting to review the national power development plan last week, the State-owned company said it had suffered losses of VND2 trillion (US$96 million) this year.
Duong Quang Thanh, deputy general director of the EVN, said losses in the last few years meant EVN could not invest in new capacity, leading to power insufficiency in the 2013-15 period.
It needed around VND525 trillion ($25 billion) by 2015 but could only raise half the amount, he said.
EVN asked the Ministry of Industry and Trade to complete its proposal for raising funds for power development, which it is drafting on instructions from the Government.
It has also sought priority in allocation of official development assistance funds.
PetroVietnam Power Corporation supported EVN's demand for a tariff hike. Trinh Viet Thang, its deputy general director, told the meeting that the current tariffs were not attractive enough for prospective investors in the power sector.
Deputy Minister of Industry and Trade Hoang Quoc Vuong said the electricity tariffs were a key issue in making development plans, and a failure to clearly chart prices would leave the sector unable to attract investments.
But the ministry needed a comprehensive report from EVN to make a decision on price hikes.
Electricity supply is expected to be insufficient in the next few months since water levels are low in almost all reservoirs in the northern and southern regions despite flooding.
An EVN report earlier this month said te flood season from June to August had not seen a significant rise in water levels in the Da, Chay, and Lo – Gam rivers, causing levels in reservoirs to dwindle to 15m.
The ministry ordered electricity power plants around the country to earmark water mainly for power generation.
vietnamnews
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