On October 27, Vietnamese Deputy Prime Minister Nguyen Van Thang chaired a meeting at the Government headquarters on scenarios for managing gasoline and electricity prices.
The meeting was attended by leaders of the Ministries of Finance; Industry and Trade; the Government Office; a representative of the Ministry of Justice; and the general director of Vietnam Electricity (EVN).
After hearing reports from EVN and the Ministry of Finance, along with comments from ministries and agencies, the Deputy Prime Minister issued the following directions.
EVN must urgently review its calculations and cut costs as much as possible to prepare a plan to reduce the average retail electricity price. The plan is to apply from November 1, 2026, through March 31, 2027, in line with laws governing the mechanism and timing for adjusting the average retail electricity price and other relevant regulations. The measure is intended to support social welfare for people and businesses. EVN must submit the plan to the Ministry of Industry and Trade for review.
The Ministry of Industry and Trade will lead the review of EVN's average retail electricity price plan so that the price reduction can begin on November 1. It must promptly report matters beyond its authority to the competent authorities.
The Ministry of Finance, together with the Ministries of Industry and Trade and Justice and other relevant agencies, must urgently review the legal basis and authority, and fully assess the impact and feasibility of a plan to reduce the excise tax rate on all types of gasoline to 0% from November 1, 2026, through March 31, 2027. The review must be completed before November 1 for consideration and decision by the competent authorities.
The current average retail electricity price is 2,204.0655 dong per kWh, excluding VAT. It has applied since May 10, 2025.
According to EVN, the cost of producing and selling electricity in 2025 was 2,092.7 dong per kWh. Total costs exceeded 601.680 trillion dong, while commercial electricity output reached 287.51 billion kWh. This cost was about 111.37 dong per kWh, or 5.32%, below the current average retail price.
The two figures cover different periods: the average retail price has applied since May 2025, while the production and sales cost was calculated for the full year.
Sources: Dân Trí
