Vietnam Electricity Group (EVN) informed about electricity price adjustment on the afternoon of October 11 - Photo: NGOC AN
On October 11, a source from Tuoi Tre Online said that the average retail electricity price was decided to increase by 4.8% (an increase under the authority of EVN). Thus, the electricity price increased 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. The electricity price adjustment will officially apply from today, October 11, 2024.
Increase by 96.32 VND/kWh
Thus, since the beginning of 2023, EVN has adjusted electricity prices three times and implemented them within its authority, with increases of 3%, 4.5% and 4.8%.
Along with EVN's decision to adjust electricity prices, the Ministry of Industry and Trade also issued a decision regulating electricity prices.
This decision will specify the retail electricity price structure for each customer group after applying the price increase adjustment from today (October 11).
Previously yesterday, October 10, the Ministry of Industry and Trade announced the results of the inspection of EVN's electricity production and business costs in 2021 and 2022.
Total cost of electricity production and business in 2023 is 528,604.24 billion VND.
Including electricity production and business costs of power generation, power transmission, electricity distribution - retail and industry support - management, increased by VND 35,338.94 billion (equivalent to an increase of 7.16%).
EVN increased electricity prices within its authority by 4.8% - Photo: D.Tuyen
The cost of electricity production and business in 2023 is VND 2,088.90/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, and income from electricity pole rental activities have been deducted.
In 2023, the commercial electricity output is expected to be 253.05 billion kWh, an increase of 4.26% compared to 2022.
Revenue from commercial electricity sales in 2023 is VND 494,359.28 billion, an increase of 8.18% compared to 2022. The average commercial electricity selling price is VND 1,953.57/kWh, an increase of 3.76% compared to 2022.
Two electricity price increases in 2023 are not enough to cover costs
Thus, EVN is currently retailing electricity below the production and business cost of 135.33 VND/kWh, equivalent to 6.92%.
According to the Ministry of Industry and Trade, EVN's electricity production and business results in 2023 were a loss of over VND 34,244 billion. Revenue from activities related to electricity production and business in 2023 was VND 12,423 billion.
EVN's total 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 VND 21,821.56 billion (excluding income from other production).
In addition to the above loss, the inspection results of the interdisciplinary inspection team also showed that the amounts not yet accounted for in the cost of electricity production and business in 2023 were about VND 18,032 billion. This is mainly the exchange rate difference that has been suspended from 2019 to 2023 and has not been allocated to the cost.
In 2023, with two electricity price increases of 3% and 4.5%, the electricity industry's additional revenue will be more than VND11,000 billion, but EVN said this additional revenue is still not enough to cover costs.
This afternoon, EVN held a press conference to announce the decision to adjust the average retail electricity price that has just been approved.
Source: https://tuoitre.vn/gia-dien-tang-4-8-vuot-muc-2-100-dong-kwh-tu-hom-nay-11-10-20241011085839874.htm
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