Electricity prices to rise by 7.5 percent from mid-March

Electricity prices to rise by 7.5 percent from mid-March - 

Government Permanent members have agreed to increase the electricity prices for 7.5% from March 16, 2015.

On March 5, 2015, in the Government Office, Prime Minister Nguyen Tan Dung chaired a government meeting for considering the electricity price adjustment options proposed by the Ministry of Industry and Trade (MoIT) and the Electricity of Vietnam Group (EVN).

After consideration and discussion the Cabinet leader, his deputies and Ministers of Industry and Trade, Planning and Investment, and Finance have agreed on rising electricity prices by 7.5 percent to an average price of VND 1622.05 per kWh from March 16, 2015.

On behalf of the Government Permanent members, the PM Nguyen Tan Dung asked MoIT, EVN to organize the mass media on the electricity price increasing adjustment guideline. The PM also required EVN to continue to carry out the solutions directed by the Government in order to improve its production and business efficiency to reduce electricity loss from 8.49% in 2014 to 8% in 2015 and increase labor productivity by over 9%.

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