Vietnam electrical rates may rise 5-10%
Electricity prices may rise by between 5 and 10 per cent, if a proposal by the country's power provider Electricity of Viet Nam (EVN) is approved.
Head of the Ministry of Finance's Price Management Department Nguyen Tien Thoa, said EVN had three proposals on the table of price rises between 5 and 10 per cent.
Thoa said electricity production input costs had risen by 3.3 per cent, since the last price rise in December last year.
He said factors influencing the price rise included an exchange rate rise of 0.6 per cent, gas fuel price rises of 10.4 per cent, and a 40 per cent rise for FO oil, while coal prices decreased by 0.3 per cent.
EVN's production costs went up by more than VND15 trillion (US$714.2 million) due to exchange rate differences and other rising costs, he said, adding that the ministries of Industries and Trade (MoIT) and Finance (MoF) would review the proposal in the upcoming time.
