Keeping electricity rates unchanged amid petroleum price hikes is part of Vietnam's efforts to curb inflation and stabilize macroeconomics. Electricity prices in Vietnam will not be raised any time soon despite higher input costs, a government official has said. Nonetheless, it's necessary to consider relating factors to keep the prices unchanged, Deputy Prime Minister Le Minh Khai said at a governmental meeting on prices management held on July 18. A Vietnam Electricity (EVN) worker in hot weather. Photo: Hoa Viet Cuong, EVNHANOI Electricity tariffs are facing upward pressure when input costs have skyrocketed since the beginning of the year. For example, the average price of anthracite supplied by Vietnam National Coal-Mineral Industries Holding Corp. (Vinacomin) increased by 63%. The price of imported coal doubled, to US$305 per ton while that of Brent crude oil hit $105 a barrel, nearly 2.5 times higher than before. Keeping the power prices unchanged is part of efforts that the government has been making to curb inflation and stabilize the macroeconomics this year. According to calculations by state sole power distributor Vietnam Electricity (EVN), the average retail price of electricity in 2022 has reached VND1,915 ($0.82) per kWh, 2.74% higher than the current average rate… Read full this story
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