The average retail electricity price increases for the second time in 2023

On November 8, 2023, Vietnam Electricity Group issued Decision No. 1416/QD-EVN on adjusting the price of the average retail electricity price.

According to this decision, the average retail electricity price is adjusted to 2,006.79 VND/kWh (excluding value added tax) from November 9, 2023, corresponding to an increase of 4.5% compared to the average price. current army.

On November 8, 2023, the Ministry of Industry and Trade issued Decision No. 2941/QD-BCT regulating electricity selling prices, which promulgated electricity retail prices for groups of electricity customers and electricity retail prices for electricity units. electricity retailer.

Basically, this electricity price adjustment will "ensure that poor households and policy families are affected to a negligible extent".

According to statistics, by 2022, the country will have over 1.27 million poor households and social policy households receiving electricity support according to the Government's policy. Poor households and social policy households continue to be supported according to the provisions of Decision No. 28/2014/QD-TTg dated April 7, 2014 of the Prime Minister. In particular, every month, poor households are supported with a level equivalent to the amount of electricity used 30kWh/household/month; Social policy households with electricity usage of no more than 50 kWh/month will be supported with a level equivalent to the electricity usage of 30kWh/household/month.

Previously, the average retail electricity price was adjusted to increase by 3% from May 4, 2023, but only helped EVN's revenue increase by about VND 8,000 billion. This only partially solves financial difficulties, as this increase does not compensate for input costs for electricity production.

On March 31, 2023, the Ministry of Industry and Trade announced the results of examining EVN's electricity production and business costs in 2021 and 2022 according to the provisions of Decision No. 24/2017/QD-TTg. Test results show that the cost of electricity production and business in 2022 is 2,032.26 VND/kWh, an increase of 9.27% compared to 2021.

According to calculations, electricity production costs in 2023 will remain high, electricity prices in 2023 will continue to be higher than in 2022. Electricity production and business costs in 2023 are estimated at about 2,098 VND/kWh.