EVN to hike electricity prices by 18% to 1,017 dong
08-OCT-2008 Intellasia | 06/Oct/2008 VnExpress
Oct 8, 2008 - 7:00:00 AM
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The average electricity price in 2009 will increase by 18% or 860 dong a kWh to 1,017 dong, according to the latest plan on raising electricity prices of the Electricity of Vietnam (EVN).
As for household electricity price, EVN has put forward two plans on hiking prices for the first 100 kWh. The first plan has six levels with an average increase of 16% against the current price. Namely, EVN plans to apply 750 dong for the first 100 kWh, up by 200 dong against the current level.
The second plan has seven levels with an average growth of 12%. EVN will split the first 100 kWh into two levels. Out of the first 100 kWh, the first 50 kWh will be entitled to 700 dong for each kWh and the next 50 kWh will be applied at the rate of 900 dong for each kWh, rising by 63.6% against the current rate.
Additionally, EVN will also ask the government to support electricity bills of 50 kWh each month for poor people and needy families.
According to EVN, if the government approves its electricity rate-raising plan, the group will earn pre-tax profit of some 2-2.4 trillion dong. In case electricity prices are not revised but electricity volume rise by some 14% a year, EVN will report losses of some 9.5-33.821 trillion dong in the period of 2009-2012.
According to EVN, the government will approve this price hike plan, which will ease pressure on highly increased fuel prices and solve its capital shortage problem. Due to the increase of fuel prices, EVN spent additional five trillion dong on input fuel within three-years, from 2004 to 2007.
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