Power price to be adjusted every three months
By Van Nam - The Saigon Times Daily
HCMC – The power price in the coming time will be adjusted once every three months under the competitive power market mechanism and depending on the specific socioeconomic conditions, a ministry official said on Monday.
“The power price will be subject to changes after every three months depending on market conditions,” said Dang Huy Cuong, director of the Electricity Regulatory Authority of Vietnam under the Ministry of Industry and Trade, at an online meeting.
Vietnam Electricity Group (EVN) increased the power price by VND65 per kWh from VND1,304 to VND1,369 from this month’s beginning. The increase is attributed to the rising prices of coal used for power production, gas for the Ca Mau power plant and oil as well as the foreign exchange rate between Vietnam dong and U.S. dollar.
With this price hike, EVN’s revenues earned from selling price will rise by an estimated VND3.710 trillion in the rest of this year, and this amount will be used to cover the coal price increase and financial arrears from previous year.
According to Deputy Minister of Industry and Trade Nguyen Nam Hai, the power price in the future will be adjusted gradually, and the price may drop after the adjustment in every three months.