Power group continues proposing power price increase

The country’s largest power company Vietnam Electricity (EVN) has again proposed the Ministry of Industry and Trade to permit it to increase electricity prices.

Workers maintain electricity network in Nguyen Huu Canh Street, HCMC (Photo: SGGP)

At a meeting held by the company on Tuesday to review its operation last year and discuss this year plan, EVN said that electricity price calculation has not been updated with input cost changes since last year. For instances prices of coal and gas supplied for electricity production have been increased and water resource tax and forest environmental fee have been hiked too.

This has caused EVN a loss of VND8 trillion (US$374.8 million). The loss will total VND16,800 billion (US$787.08 million) with exchange rate fluctuation.

Another issue which EVN reported at the conference was that nearly 54 percent of the company’s power output supplied to industrial sector had contributed to only 39 percent Gross Domestic Product (GDP). Meantime four percent of the power output used in commerce and trade fields has contributed to 44 percent GDP.

 EVN produced and purchased 142 billion kilowatts of electricity, yielding VND196 trillion (US$9,183 million) in revenue last year.

The group has set a target to raise the power output by 10 percent against 2014 to reach 157 billion kilowatts this year.

By Ha My – Translated by Hai Mien

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