Vietnam Electricity (EVN) announced the adjustment on October 31 under Decision No. 1305/QD-EVN, issued on October 30, 2026.

The new average retail electricity price of VND2,159.9037 per kWh, excluding value-added tax (VAT), takes effect on November 1, representing a 2% reduction from the previous rate.

EVN said the adjustment followed a review of production and operating costs, along with cost-saving measures, and is intended to help maintain macroeconomic stability while supporting households and businesses.

On the same day, the Ministry of Industry and Trade issued Decision No. 2892/QD-BCT regulating electricity tariffs, including retail prices for different customer groups and electricity retailers, effective November 1.

The reduction marks Vietnam's first downward adjustment in average retail electricity prices after more than three years of consecutive increases.

During the COVID-19 pandemic, EVN implemented five rounds of electricity price reductions and bill discounts between 2020 and 2021 to ease the financial burden on consumers.

The total value of support provided during those rounds reached nearly VND17 trillion (US$654 million).

Since May 2023, average retail electricity prices have increased four consecutive times.

In May 2023, the average price rose 3% to VND1,920.37 per kWh. Another 4.5% increase followed in November that year, bringing the rate to VND2,006.79 per kWh.

In October 2024, electricity prices increased by a further 4.8% to VND2,103.12 per kWh.

The most recent adjustment before the latest reduction came in May 2025, when the average retail price climbed another 4.8% to VND2,204.0655 per kWh.

EVN recently disclosed that its total electricity production and business costs in 2025 amounted to VND601.68 trillion (US$23.14 billion).

This corresponded to an average electricity production and business cost of VND2,092.70 per kWh, which was VND111.3655 lower than the average retail electricity price in effect before the November adjustment.

However, EVN said more than VND17.506 trillion (US$673 million) in accumulated costs had yet to be included in electricity production and business costs as of the end of 2025, mainly due to foreign exchange rate differences.

Tam An