Latest News about electricity price
Vietnam has become an importer of coal, oil and gas, but experts have warned against a high reliance on imports.
As of August 23, 45,299 rooftop solar power projects had become operational with total capacity of 1,029 MWp, according to the Electricidty of Vietnam (EVN).
Vietnam needs an electricity power policy under which the market rules, investors make a profit, and the poor can afford electricity.
Electricity consumers complain that retail electricity prices keep increasing.
The Electricity Regulatory Authority (ERA) has changed the proposal of allowing household consumers to choose to pay electricity bills under either a multi-tiered price or single-price mechanism.
The Ministry of Industry and Trade (MoIT) has decided to cancel plans for a single price model to calculate power tariffs after receiving feedback from relevant ministries and experts.
When the competitive electricity retail market takes shape, EVN will no longer be the only retailer and people will be able to choose their retailer and negotiate prices.
If the single price of VND1,864 per kwh, which is equal to the average retail price, is set, millions of clients will have to pay more for electricity bills.
Under a ministry proposal, consumers would pay for electricity use under either a 5-tier price system or a single-price system.
A solution for the power industry has been put into discussion: selling entire power plants to investors after they are put into operation.
The Ministry of Industry and Trade (MoIT) is proposing reducing power price tiers from the current six to five levels.
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Industrial zones as well as supermarkets and large real estate developers have begun designing rooftop solar power systems for their new projects.
The Ministry of Industry and Trade has called for no increases in the electricity price until the end of the second quarter at the earliest to support businesses amid the novel coronavirus (COVID-19) outbreak.
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With the new policy on choosing investors through bidding, the hot race of developing solar power projects is expected to cool down.
The prices of oil and coal have been decreasing, which is expected to improve the profits of power companies.
Installed power capacity has increased sharply in recent years, but Vietnam is still suffering from an electricity shortage.
Private capital is the best solution for upgrading of power transmission lines, which have traditionally been funded by the state.
With increasingly high demand for electricity and the latest 8.36 percent electricity price spike, Electricity of Vietnam Group (EVN) and other power generation companies have seen profits soar.