Price of electricity in Vietnam to be adjusted monthly

Vietnam Electricity plans to adjust its monthly pricing based on fluctuating costs such as US dollar exchange rate, changing fuel prices, and also the power output level from its plant.

The average power price will be calculated against its current price before the 20th of each month.

In case the difference is the same or five percent higher than the current price, EVN can hike the price by five percent after a five day period if the Ministry of Industry and Trade does not respond.

For increasing the price to more than five percent, EVN will have to seek approval from the two ministries of Industry and Trade and that of Finance.

The ministries in turn need to approve the pricing within a ten day period after which they will submit the same for approval from the Prime Minister. Should there be no response from the Prime Minister’s office within 15 days EVN will only be permitted to raise by a maximum five percent. If the price falls short of five percent, EVN can maintain its current price level.