Electricity prices to increase by 7.5% as of March 16
The Ministry of Industry and Trade has issued a new frame of the prices of electricity for family activities to be applied since March 16 in conforming to the recent approval of Prime Minister for the Electricity of Vietnam (EVN) to increase it by 7.5% this year.
In Vietnam, electricity for family life and production is sold in different prices.
According to the new price frame for family, each kWh of electricity is priced at VND1,484 for the first 50 kWh a month. It goes up to VND1,533 a kWh from the 51st to 100th kWh a month.
With the consumption of over 400kWh a month by a family, each kWh is priced at VND2,587.
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| EVN technicians are installing an electricity meter at a family. |
A US dollar is equivalent to VND21,335.
The prices of electricity for production are from VND869 - 983 each kWh in normal time and VND2,459 - 2,735 a kWh in the peak time.
Last week, Prime Minister Nguyen Tan Dung approved the suggestion of EVN to increase the price of electricity in Vietnam by 7.5%, averagely at VND1,622/kWh.
EVN said it will incur a loss of VND12 trillion (US$577 million) in 2015 if the electricity prices remain unchanged.
It is planned to help EVN cut loss in the past years, ensure the Gross Domestic Product growth at 6.2% this year, and control the inflation rate at 5%.