Adjusting electricity prices requires caution and careful calculation.
In the context of EVN losing up to 26,700 billion VND in 2023, many energy experts believe that electricity prices may continue to be adjusted upward in the coming time?
Speaking with Lao Dong, Dr. Ngo Duc Lam - former Deputy Director of the Institute of Energy (Ministry of Industry and Trade) said that we need to be extremely cautious and carefully calculate the issue of increasing electricity prices. We need to see whether the economy and people can endure the third increase in electricity prices or not?
If electricity prices must be increased, according to Mr. Lam, the increase should be less than 5% and is under the authority of EVN. However, Dr. Ngo Duc Lam said that before thinking about increasing electricity prices, EVN needs to publicize and be transparent about revenues, expenditures, electricity purchase prices for each type of electricity generation and selling prices for each type of electricity user, thereby, consumers will understand the reason why electricity prices need to be adjusted. In addition, research should be done on a roadmap to move towards electricity prices according to market mechanisms.
Dr. Nguyen Huy Hoach - Vietnam Energy Science Council - said that to avoid the risk of power shortage, recently, EVN has mobilized high-cost power sources, including oil-fired electricity, gas-fired electricity, and renewable electricity.
Need to make electricity production costs transparent
Talking to Lao Dong, economic expert Vu Vinh Phu - former Deputy Director of the Hanoi Department of Industry and Trade - said that the electricity price adjustment will shorten the price increase cycle from 6 months to 3 months/time; electricity prices will be decentralized to EVN and the Ministry of Industry and Trade to carry out the adjustment.
The important thing is that the increase in electricity prices from now until the end of 2024 will certainly affect prices, markets, and price competitiveness of domestic products...
According to Mr. Phu, before increasing the price, EVN needs to publicly and transparently disclose the cost of electricity production per 1kWh (with audit and confirmation from the national inspection council). Special attention should be paid to large cost groups in the electricity price such as wages, purchasing equipment and materials, foreign exchange rates, etc.
The cross-subsidy of electricity prices between production prices and household prices has existed for many years, and many opinions have requested a change (household electricity prices are higher than production prices). This has discouraged manufacturing enterprises from investing in technology to innovate equipment to save electricity, and Vietnamese consumers have been unjustly disadvantaged.
EVN needs to accelerate the operation of power projects according to the Power Plan 8 approved by the Government, encourage renewable energy such as solar and wind power... balance power sources reasonably to create an average electricity price for each period that is reasonable and most economical for society and consumption.
Finally, the work of organizing the implementation of the Government's decision on average retail prices in Vietnam, strengthening inspection and auditing work to ensure fair and transparent competition.
Fuel prices for electricity production remain high
In the summary report on the implementation of the 2023 plan, EVN said that although EVN and its units have made efforts to implement solutions such as cost savings (saving, reducing 15% of regular costs, from 20-50% of major repair costs). At the same time, the average retail electricity price has been adjusted up twice (up 3% from May 4, 2023 and up 4.5% from November 9, 2023), it is still not enough to offset the cost of electricity production, so it continues to suffer losses in electricity production and business for the second consecutive year.
According to EVN, the main reasons for the increase in electricity production costs are still high fuel prices. In addition, the structure of electricity mobilization is unfavorable due to poor water supply in hydroelectric reservoirs, causing hydroelectric output to decrease, while increasing the mobilization of coal, oil and renewable energy thermal power plants with higher costs than hydroelectricity. The cost of purchasing electricity on the electricity market is high, and the payment cost is higher than the contracted electricity price.
Source: https://laodong.vn/kinh-doanh/minh-bach-gia-thanh-san-xuat-truoc-ap-luc-dieu-chinh-gia-dien-1368531.ldo
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