Mr. Nguyen Tien Thoa said that before adjusting the price, the electricity price had been adjusted since 2019. From 2019 until now, the market has fluctuated very quickly and costs have increased, so the electricity industry must continue to adjust prices.
Specifically, if calculated from 2019 to 2022, the cumulative inflation has increased by about 10%. Input materials for electricity production increased by about 20.3%. In 2022, the world price of imported coal mixed with domestic coal to produce electricity increased 6 times compared to 2020. Compared to 2021, it increased 2.6 times. The increase in coal prices means that Vietnam Electricity Group must buy coal-fired thermal power plants by about 25% and buy thermal power plants by about 11.3%, not to mention inflation, the minimum wage also increased. EVN's audited electricity cost in 2022 increased by 9.27% compared to 2021. Therefore, if there is no cost compensation for production units, EVN's cash flow will be "cut off". At that time, EVN will not have the conditions to produce and do business, supplying electricity to the economy.
Mr. Nguyen Tien Thoa said that input costs are too high, forcing the electricity industry to increase prices.
"Increasing input costs are beyond the reach of VNE and even the Government because that is the world price. No matter how friendly you are or how cheap the negotiation is, you can only get a little preferential price and cannot lower it," said Mr. Nguyen Tien Thoa.
In response to the question of whether the adjustment of electricity prices is in accordance with the law or not, Mr. Thoa affirmed that the Prime Minister's regulations allow for a price adjustment of about 3%, so "it can be increased without reporting", and if the electricity price increases by 10% or more, it must be submitted to the Prime Minister for decision. Adjusting electricity prices must be cautious, not jerky, to ensure security for the electricity industry and harmonize the interests of people and businesses.
"State-owned enterprises also need to share with consumers. If it is necessary to adjust prices, adjust 1/3 of the increased cost. As for the missing part, how will EVN compensate, a solution will be needed. The adjustment sounds terrible, but it will only increase by an average of 56 VND/1 kWh. At that time, the increase in electricity prices will affect other industries by about 0.18%. In which, the manufacturing industry that needs a lot of electricity such as steel will increase the cost of the steel industry by 0.18%. Cement will increase by 0.45% and textiles by 0.4%. As for consumers, the increase is also small. Because currently, over 25 million households use electricity. On average, a family consumes 200 kWh/household/month. Thus, on average, each household pays an additional 12,000 VND. For those who use less, about 5 kWh/month, it will only increase by about 2,500 VND/month. Those who use more will pay an additional 35,000 VND. VND/month. Thus, it can be seen that the impact from the increase in electricity prices is not large. This is also a premise to control inflation this year," Mr. Nguyen Tien Thoa analyzed.
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