Average electricity prices increase by 8.36%
09:58 | 21/03/2019

VGP – The average electricity price has increased by 8.36% since March 20, 2019, according to the recent announcement of the Ministry of Industry and Trade. 

Based on the statistics of the Global Petrol Prices, Viet Nam is listed among the world’s lowest average electricity price nations in 2018. 

Average electricity prices rose from VND1,660.19 per kWh to VND1,800 per kWh. 

Retail price for household electricity is divided into six rates including rate 1for the kWh from 0 – 50 with VND1,678, rate 2 for the kWh from 51 – 100 with VND1,734, rate 3 for the kWh101-200 with VND2,014, rate 4 for the kWh201-300 with VND2,536, rate 5 for kWh301-400 with VND2,834 and rate 6 from kWh 401 with VND2,927. 

Related to the impacts of the adjustment of electricity price on the Consumer Price Index (CPI), the MIT has joined with the General Statistics Office, under the Ministry of Planning and Investment to consider the impacts of the electricity price on the CPI, the Producer Price Index (PPI) and the Gross Domestic Product (GDP). 

The General Statistics Office estimated that the CPI in 2019 will reach around 3.3-3.9% (including the impacts of the increase in the electricity price), which is still lower than the target set by the National Assembly (under 4%). 

The recent increase in the electricity price was in December 2017. 

The revenue gained from selling electricity in 2017 was VND289,954.78 billion while the total expenditure for producing electricity in the year attained VND291,278.46 billion. 

Based on the statistics of the Global Petrol Prices, Viet Nam is listed among the world’s lowest average electricity price nations in 2018. 

The price of electricity is US$0.07/kWh, which is equal to half of the average price of electricity in the world for that period (US$0.14/kWh). 

Among 93 nations in the list, Viet Nam ranked 21st from lower to higher ranking. 

By Thuy Dung

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