Electricity prices to jolt by five per cent

The price of electricity will increase by five per cent to VND1,437 excluding VAT for one kWh from December 22, following a circular issued by the Ministry of Industry and Trade.

The price of electricity will increase by five per cent to VND1,437 (US$0.06) excluding VAT for one kWh from tomorrow, following a circular issued by the Ministry of Industry and Trade yesterday.

The retail price of electricity for households will increase from VND66-115 based on the price escalation chart.

But the price of electricity for low-income households, who use less than 50kWh per month, will remain unchanged at VND933 per kWh.

Other households will have to pay VND1,350 for their first 100kWh, up VND66 over the current price. They will be charged an extra VND88 per kWh (from current VND1,457 to VND1,545) from their 101st kWh while those using from 151-200 kWh will pay VND1,947 per kWh.

This is the second time prices have been hiked this year, after a five per cent increase in July.

Electricity of Vietnam is expected to hold a press conference this afternoon, where it will give specific reasons for the sudden increase.