Industry ministry proposes no raise in electricity prices during Tet

22-Jan-2019 Intellasia | The Saigon Times | 6:00 AM Print This Post

The Ministry of Industry and Trade has proposed not raising electricity prices during the month before and after the upcoming Lunar New Year holiday, or Tet, as it is inappropriate to introduce the new price increase at that time, VietnamPlus news site reported, citing deputy minister Do Thang Hai.

Speaking at a regular press conference held by the ministry in Hanoi City on January 18, the deputy minister said that the ministry strictly followed the government and prime minister’s directives, specifically not pushing up electricity prices in 2018.

Also, Hai said the ministry will consider increasing the price of electricity in 2019, in line with the directives of the head of the Steering Committee for Price Management.

Some legal documents stipulate that Vietnam Electricity Group (EVN) can raise the price of electricity, but it must receive approval from the ministry or report the price hike to the government, Hai added.

In addition, the representative of the ministry noted that prices of essential items will gradually be adjusted, based upon market prices. As such, the Ministry of Industry and Trade will review electricity prices in 2017 and 2018 to set a new price that ensures stable prices in the local market.

The ministry also suggested EVN should propose minimising production costs, publicising price calculations and ensuring proper price levels, Hai said.

The last upward adjustment of electricity prices was set at the beginning of December 2017 at a level of 6.08 percent.


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