Deputy PM requests suitable time for power price changes next year hinh anh 1Workers examine electricity facilities (Photo: VNA)

Hanoi (VNA) – Deputy Prime Minister Vuong Dinh Hue has asked that electricity prices, which affect many sectors, be adjusted at appropriate points of time next year so as to keep inflation in 2019 at under 4 percent.

He made the request while chairing a recent meeting on price management for the next year.

Deputy Minister of Industry and Trade Dang Hoang An said to realise the Government’s resolution, electricity prices haven’t been raised in 2018 to help control inflation as targeted by the National Assembly.

He affirmed that the power sector is still able to ensure electricity supply for 2019.

Although retail prices have been kept unchanged, input costs have been rising, and gas supply for power generation has hit its exploitation limit. Meanwhile, El Nino is forecast to hit Vietnam and cause drought next year, affecting the operation of hydropower plants.

All these factors have caused and will cause difficulties for the sector, An noted.

At the meeting, Deputy PM Hue asked the ministry to take into account next year’s inflation target of under 4 percent to propose power price changes at appropriate points of time to the Prime Minister.

According to the Ministry of Finance and the General Statistics Office, the consumer price index (CPI) in November is likely to stay flat or decline, helping keep this year’s CPI hike rate under 4 percent.

Hue ordered relevant ministries and sectors to not be complacent but keep a close watch on domestic and global prices through December to ensure the supply and demand balance and stable prices, especially in the Christmas and New Year holidays.

They also need to actively build price scenarios and adjust public services prices in line with the inflation target for next year.-VNA