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EVN to not adjust power price in 2016

The Electricity of Vietnam (EVN) has no plans for electricity price adjustment despite difficulties forecast for this year, announced the group’s Deputy General Director Dinh Quang Tri on January 17.
EVN to not adjust power price in 2016 ảnh 1Illustrative photo. (Photo: tuoitre.vn)

Hanoi (VNA) - The Electricity of Vietnam (EVN) has no plans for electricity price adjustment despite difficulties forecast for this year, announced the group’s Deputy General Director Dinh Quang Tri on January 17.

He said the group will face a number of obstacles in 2016 in power production, as El Nino has led to hydropower reservoirs running out of water. Currently, there’s a shortage of about 6.5 billion cubic metres of water compared to the normal level.

Compounding the problem, in order to serve the water demand for agricultural production activities during the 2015-2016 winter-spring rice crop in the northern region, the EVN will need to let out about 5.16 billion cubic metres from the Hoa Binh, Tuyen Quang, and Thac Ba hydropower reservoirs, Tri added.

However, the group has pledged to direct related units to overcome difficulties in order to maintain a stable power price, he said.

The Ministry of Industry and Trade has recently released a draft decision about the mechanism for retail power price management and adjustment, which is now put up for comment, Tri said, adding that the draft decision demonstrates the ministry’s openness and transparency in the issuance of normative regulations related to power prices.

He said the EVN pledges to offer detailed suggestions to the draft decision to ensure that it will be in line with the group’s power production process.-VNA

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