Power price to rise by 7.6% on January 1, 2007
08:27 | 03/12/2006
VNGOVNet – In the morning of December 1, at the head office of the Government, PM Nguyễn Tấn Dũng presided over a regular Government meeting of November to discuss and ratify some draft decrees and important projects, including the scheme “Readjustment of Electricity Price in 2006-2010”. Accordingly, from January 1, 2007, power prices will be increased by 7.6% on average compared to the current levels.

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The Government decided to readjust electricity prices to compensate the strong increases in input costs and ensure that electricity retail price well reflects the cost of production and business. However, the Government affirmed that the rural and poor urban households continue to enjoy the Government’s power price subsidy.

 

According to the price rise scheme, the selling price of electricity for daily-life use will remain unchanged at VND550 per kWh for the first 100 kWh. The wholesale price of electricity for daily-life use in rural areas will be kept at the current price of VND390 per kWh. The ceiling selling price of electricity for daily-life use in rural areas will stay the same as the current VND700 per kWh. The price will increase by 20% at prime time hours for all users. The price from the 100th kWh to the 400th kWh will go up by 19-23%. For daily civil-use electricity, from the 400th kWh upwards, the price is set at VND1,780  per kWh. The selling price to administrative, non-business, service and business establishments will be increased by 12% on average.

The Ministry of Industry plans another increase in July 2008 and aims to float the price by 2010.

By Xuân Hồng

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