Ministry of Industry and Trade to reduce electricity prices, electricity bills

The Ministry of Industry and Trade yesterday announced supporting to reduce electricity prices and power bills for customers for the third phase in seven months from June to December following the Government’s approval.

Accordingly, the tourist accommodation establishments will be reduced the electricity prices from the retail price being applied for business equal to the manufacturer’s retail price.

The centralized quarantine centers and places for medical examination of Covid-19 patients will be discounted 100 percent of the retail electricity price. As for the medical facilities for Covid-19 examination, test and treatment, electricity bills will be discounted 20 percent.

(Illustrative photo:SGGP)

After the third period, electricity retailers will continue to apply electricity selling prices following the regulations in Decision No. 648/QD-BCT of the Ministry of Industry and Trade. 

It is estimated that the Ministry of Industry and Trade will decrease the total amount of VND1.2 trillion- VND1.3 trillion (US$52 million-US$56.4 million) in electricity prices and electricity bills for the third phase.