Wholesale electricity prices to increase by 2-5 percent

Hanoi (VNA) – The Electricity of Vietnam (EVN)’s wholesale electricity prices sold to its power corporations in 2016 would be increased by two to five percent over last year.

The Ministry of Industry and Trade has issued Decision No 1797/QD-BCT on the wholesale electricity price frame. Specifically, the highest surge would be wholesale price sold to the Central Power Corporation with the rise of five percent. Of which, the maximum price would be increased from 1,135 VND to 1,200 VND per kWh while the minimum price would be higher between 1,066 VND and 1,119 VND per kWh.

The maximum price sold to the Northern Power Corporation and Hanoi Power Corporation would be increased by four percent while those of HCM City Power Corporation and Southern Power Corporation would be three percent higher than the current level.

The minimum prices sold to the Northern Power Corporation, Southern Power Corporation, Hanoi Power Corporation and HCM City Power Corporation would be increased by two percent.

Under the decision, the EVN’s wholesale electricity prices sold to its corporations would not be higher than the maximum and minimum prices. EVN would issue specific wholesale electricity prices for each corporation.

The group would have to calculate and submit to the ministry for approval if they want to adjust the prices to suit with changes in production costs, turnover and profit.

The prices have been applied for the entire year.

EVN on May 16 confirmed that the group has not had any proposal for a power tariff increase this year.

“The EVN’s wholesale electricity prices sold to its corporations in the year of 2016 are internal prices with an aim to improve transparency in management and would not affect to the current power prices,” Dinh Quang Tri, EVN’s Deputy General Director, said.-VNA