Electricity Price to Increase 4.6pct in 2012: minister of Finance

26-Nov-2011 Intellasia | StoxPlus | 7:01 AM Print This Post

Price of electricity is planned to surge by 4.6 percent from the current price in 2012, Vuong Dinh Hue, Finance minister answered the congressman’s questions in a testimony at the National Assembly about electricity price, petroleum and public investment.

In 2010 alone, the Vietnam Electricity Corporation (EVN) incurred VND23.5 trillion loss, of which VND8.04 trillion loss from electricity business and VND15.463 trillion loss from exchange rate difference, the head of the finance ministry said.

EVN is estimated to run a loss of VND3.45 trillion in 2011, decreasing 68.6 percent the earlier’s year plan of VND11 trillion, the minister added.

Electricity price in 2012 will be calculated on the production electricity price in 2011 (EVN’s profits excluded); applying exchange rate difference on September 15, 2011; keeping coal selling price for EVN at 57-63 percent consumption price, purchase contracts remained as present.

Of note, the electricity price for 2012 will be added one-fourth of 2010′s loss and one-third of exchange rate difference in 2010.

 


Category: Business

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