Vietnam Electricity (EVN) announced that the average retail electricity price was cut from November 1 to VND 2,159.9037 per kWh, excluding value-added tax. The reduction is 2% from the previous price.
On the evening of October 31, EVN announced the price adjustment, which took effect the next day, November 1.
EVN said it made the adjustment after reviewing its costs and calculations. The announcement referred to current laws, government directions and the need to support macroeconomic stability and social welfare for residents and businesses.
EVN Decision No. 1305/QD-EVN was issued on October 30. The new average retail electricity price is VND 2,159.9037 per kWh before VAT.
On October 31, the Ministry of Industry and Trade issued Decision No. 2892/QD-BCT on electricity prices. It sets retail prices for consumer groups and electricity retailers, effective from November 1.
Speaking at the National Assembly's discussion of socio-economic issues on the morning of October 31, Deputy Prime Minister Nguyen Van Thang said the government had instructed EVN to urgently review costs and cut them as much as possible to reduce the average retail electricity price by about 2% through March 31, 2027.
Sources: Thanh Niên
