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EVN anticipates raising electricity rates as coal prices rise

Thanh Truc Thursday | 12/08/2022 10:54

Photo: EVN

Vietnam Electricity Group (EVN) is under pressure from rising power-generating costs and plans to increase consumer tariffs in 2023.

EVN has submitted a request for a rate increase with the Ministry of Industry and Trade, hoping to make the first significant pricing change since March 2019.

The projected increase in scale has not been made public. However, EVEN must discuss this with the minister before proposing a rate increase of 5% to 10%.

A loss of almost VND31 trillion ($1.29 billion) is anticipated for EVN in 2022 as a result of rising coal prices, which are its primary fuel source.

Rate increases of between 3% and 5% are allowed at the utility's decision. The prime minister must approve increases of 10% or greater.

The scale and timing of the proposal are now being considered by the government. 

Source: Nikkei Asia

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