VIETNAM’S BUSINESS NEWS HEADLINES AUGUST 16

Trade ministry proposes same price for power consumption Apart from presenting five electricity rates based on the levels of power consumption, the Ministry of Industry and Trade has proposed applying the same price to daily electricity consumption at VND2,703 per kWh of power or VND2,880 per kWh. Under its draft on the electricity retail pricing adjustment scheme to amend Decision 28/2014, the ministry has introduced two solutions for the calculation of electricity bills. In the first solution, the five electricity rates will increase progressively from the first to the fifth price cap, with the first cap set at 0-100 kWh, the second cap at 101-200 kWh, the third at 201-400 kWh, the fourth at 401-700 kWh and the fifth at 701 kWh or more. The number of electricity consumption caps has been slashed from six to five. As for the second solution, customers can choose to calculate their power bills based on five caps or the same price, which is equivalent to 145% for Solution 2A or 155% for Solution 2B of the average electricity retail price at some VND1,864 per kWh. Accordingly, the same price of electricity will reach VND2,703 or VND2.889 per kWh, respectively, exclusive of value-added tax…. Read full this story

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