Ministry acts for clarity in utility pricing

Ministry acts for clarity in utility pricing

Consumers will have transparent information on how electricity, oil and gas prices are calculated when Ministry of Trade and Industry directive 11/CT-BCT goes into effect, said Minister Vu Huy Hoang on Sunday.

"In the past, the factors used for calculating electricity price were not transparent. The directive addresses this issue," he said.

The directive asks Electricity of Viet Nam (EVN) and Viet Nam National Petroleum Group (Petrolimex) to publish electricity and oil price calculation details as well as financial reports, business reports and production costs.

"This will allow consumers to decide how to use electricity, oil and gas suitably and economically," Hoang said. "I'm sure that with such a transparent mechanism, people will be able to supervise the operations of electricity, oil and gas providers, as well as State management agencies."

The Minister also confirmed that the electricity sector was operating "really well" at the moment with the contingency rate at 20 per cent.

"There might be difficulties from time to time if major incidents happen, but in general the supply of electricity this summer will be sufficient," Hoang said.

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