Vietnam

Electricity price reductions estimated at 1.57 trillion VND to support customers

Reductions in electricity prices from June to the end of this year to support customers to overcome the difficulties caused by the COVID-19 pandemic are estimated to total 1.57 trillion VND (67.74 million USD), according to Vietnam Electricity (EVN).

A worker of the Vietnam Electricity checking the power system. Power bills have been reduced until the end of this year as an effort to ease the impacts of the COVID-19 pandemic. (Photo: VNA)

On June 2 ,the Government issued Resolution No 55/NQ-CP to reduce electricity prices in response to the EVN’s proposal to support those heavily affected by the prolonged COVID-19 pandemic, including hotels as well as medical and quarantine centres.

Facilities which were used for isolation, and examinations related to COVID-19, would enjoy 100 percent reduction, while 20 percent reductions would be provided for medical facilities which were used to test and treat COVID-19 patients, which was estimated to total 100 billion VND.

Tourist accommodation facilities would enjoy retail electricity prices equal to those applied for production and was estimated to total 1.47 trillion VND.

The reductions would be applied in seven months, for power bills from June to December this year.

This was the third reduction in electricity prices after two similar discounts offered last year.

The first ran from April 16, 2020 to July 17, 2020 and supported more than 27 million customers with the total reduction totalling around 9.3 trillion VND.

The second was from October to December 2020 with more than 25.4 million customers enjoying the reductions worth 3 trillion VND.

At the Government press conference on June 3y, Deputy Minister of Industry and Trade Do Thang Hai said that any adjustments in electricity prices would be considered carefully to prevent any possible impacts on production and business as well as lives of residents while ensuring stable macroeconomy.

Adjustments in retail electricity prices were studied from 2018 and the Ministry proposed the adjustments to the Government at the most suitable point of time this year to limit its impacts, Hai said, adding that electricity prices were a sensitive issue and being studied carefully.

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