Vietnam Electricity Group (EVN) has decided to increase the average retail electricity price by 4.8% from today.
With this decision, electricity price increases from 2,006.79 VND/kWh to 2,103.11 VND/kWh (excluding VAT).
With the above price adjustment, the average retail electricity price increased by more than 96.32 VND/kWh. This price increase, according to EVN, is to minimize the impact on the economy and people's lives.
The Ministry of Industry and Trade also issued Decision No. 2699/QD-BCT dated October 11, 2024 regulating electricity prices, including promulgating retail electricity prices for groups of electricity customers and retail electricity prices for electricity retailers.
Accordingly, the retail price of household electricity level 1 (0-50kWh) is 1,893 VND/kWh.
Level 2 for kWh from 51-100 costs 1,956 VND/kWh.
Level 3 for kWh from 101-200 costs 2,271 VND/kWh
Level 4 for kWh from 201-300 costs 2,860 VND/kWh
Level 5 for kWh from 301-400 costs 3,197 VND/kWh
Level 6 for kWh from 401 and up costs 3,302 VND/kWh
Basically, according to EVN, this electricity price adjustment will ensure that poor households and policy families are not affected significantly.
According to statistics, in 2023, the whole country will have 815,000 poor households and social policy households receiving electricity support according to the Government's policy. Poor households and social policy households will continue to receive support according to the provisions of Decision No. 28/2014/QD-TTg dated April 7, 2014 of the Prime Minister.
Poor households are supported with a monthly support level equivalent to the amount of electricity used by 30kWh/household/month. Social policy households with electricity use of no more than 50kWh/month are supported with a monthly support level equivalent to the amount of electricity used by 30kWh/household/month.
Previously, on October 10, the Ministry of Industry and Trade announced the results of the inspection of electricity production and business costs in 2023 of Vietnam Electricity Group (EVN).
According to the inspection results, the total cost of electricity production and business in 2023 is VND 528,604 billion, including electricity production and business costs of power generation, power transmission, electricity distribution - retail and industry support - management, an increase of VND 35,338 billion (equivalent to an increase of 7.16%) compared to 2022.
The cost of electricity production and business in 2023 is VND 2,088.9/kWh, an increase of 2.79% compared to 2022 (in which the revenues of EVN and its member units from liquidation, sale of fixed assets and recovered materials, income from electricity pole rental activities have been deducted from the production and business costs of EVN and its member units).
EVN's electricity production and business results in 2023 were a loss of VND 34,244 billion. Revenue from activities related to electricity production and business in 2023 was VND 12,423 billion.
In total, EVN's electricity production and business activities in 2023 and activities related to electricity production and business in 2023 (income from financial activities and from selling reactive power) lost more than VND 21,821 billion (excluding income from other production).
2023, electricity price has been adjusted up twice. On November 9, 2023, the average retail electricity price increased to VND 2,006.79/kWh (excluding VAT). This adjustment is equivalent to an increase of 4.5% compared to the current average retail electricity price.
Previously, on May 4, 2023, EVN decided to adjust the average retail electricity price up 3%, to VND 1,920.3732/kWh (excluding value added tax).
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