Vietnam Electricity to reduce electricity prices by 10 percent

The Office of the Ministry of Industry and Trade yesterday informed that Deputy Minister of Industry and Trade Dang Hoang An signed and sent an official letter to Departments of Industry and Trade in provinces and centrally-run cities about reducing electricity prices for customers of Vietnam Electricity (EVN).
(Illustrative photo:SGGP)
(Illustrative photo:SGGP)

As for the plan, EVN has proposed reduction of 10 percent of the retail electricity price for households consuming less than 300 kWh per month under Decision No. 648/QD-BCT of the Minister of Industry and Trade on the adjustment of average retailed price and regulations on selling price of electricity.

Therefore, 26 million households will enjoy electricity price cut for three months October, November and December in 2020. Additionally, the 10 percent price is also applied to more than 2 million customers who are businesses.  Customers who are tourism accommodation establishments meeting the conditions of the Tourism Law of 2017 can convert from business electricity prices to production electricity prices.

This is the second price cut phase by EVN with the total reduction amount topping VND3,000 billion (US$130 million). Previously in the first phase, EVN reduced a total amount of more than VND9,300 billion (US$402 million)  for customers.