Vietnam’s electricity price will be raised by 5 per cent from July 1, 2012, according to a circular issued by the Ministry of Industry and Trade on Friday.
EVN is amongst the state-owned enterprises with steep debts and losses
Under the new circular, the power will fetch an average price of VND1,369 per kwh, excluding value-added tax, up VND65 from the current price.
The Electricity of Vietnam (EVN) said they will earn an additional VND 3,700 billion in revenues from the increase.
However, the price will remain unchanged at VND993 per kWh for the first 0-50kWh for poor households, ENV added.
EVN also asked local media outlets to widely announce the power hike to the public and business sectors in order to curb the abuse of power price adjustment to push up price of other goods and services inappropriately which they said may affect people’s lives and the country’s economic development.