No electricity price hikes this year

Mar 23rd at 13:28
23-03-2020 13:28:25+07:00

No electricity price hikes this year

There are no plans to increase electricity prices this year, according to the Electricity Regulatory Authority of Viet Nam.

 

At a recent meeting of the Ministry of Industry and Trade discussing the fight against the novel coronavirus (COVID-19) pandemic, director of the Electricity Regulatory Authority Nguyen Anh Tuan confirmed that there would be no increases in electricity prices this year, in line with the Government’s request.

Tuan said that the authority asked Viet Nam Electricity (EVN) to strictly comply with regulations on retail electricity prices.

Close watch would be placed on electricity consumption to raise measures for operating the power system in the most efficient way, together with reducing energy losses and improving labour productivity to lower production costs.

According to the Ministry of Industry and Trade, energy consumption saw significant decreases in the first two months of this year. Statistics showed that as of March 19, average power consumption was at 623 million kWh per day, much lower than the planned volume of 690.7 million kWh.

Sectors which saw strongest declines in power consumption were industrial production, trade and services.

Under the ministry’s Directive No 06/CT-BCT to fight the COVID-19 pandemic, the ministry called for no increases in the electricity price until the end of the second quarter at the earliest to support businesses amid the COVID-19 pandemic.

Deputy Minister of Industry and Trade Hoang Quoc Vuong also asked EVN to act to ensure enough power supply for socio-economic development with a focus on speeding up the construction of power projects.

bizhub



NEWS SAME CATEGORY

Vietnam enterprises urged to diversify markets amid Covid-19 affecting exports to US

The US did not impose any restrictions on Vietnam’s exports, but the Covid-19 pandemic could impact the US – Vietnam trade outlook.

Petrovietnam slashes revenue projection as oil prices plummet

State-owned oil giant Petrovietnam expects revenues to plummet after the novel coronavirus pandemic and global geopolitics dragged down energy prices.

Restaurants shut down as pandemic scares away customers

Restaurant chains in Hanoi and HCMC are shutting down outlets due to dwindling revenues as the Covid-19 pandemic keeps customers away.

EU, US pose no restrictions to Vietnam’s textile-garment exports: Minister

The growing numbers of order delays and cancellations are purely based on decisions of buyers from these markets as the Covid-19 pandemic is taking its toll on the...

Investors show growing appetite for LNG power projects

A slew of sizeable liquefied natural gas-fired power projects have been in the development pipeline in the past year as a way to replenish national power sources...

Panasonic Vietnam temporarily closes facility to conduct sterilisation

Panasonic Vietnam has decided to temporarily close its factory of Panasonic Appliances Vietnam to conduct sterilisation starting March 19 as two of its employees...

Mounting difficulties may lead half of Vietnam textile-garment firms to bankruptcy

Some importers from US and EU, major markets for Vietnam’s textile and garment industry, have stopped orders within three to four weeks on Covid-19 pandemic.

EU, US yet to limit garment imports from Vietnam due to COVID-19

Minister of Industry and Trade Tran Tuan Anh said on March 20 that EU and US authorities have yet to limit the import of garment products from Vietnam.

Textile industry suffers as EU, US buyers cancel orders

Vietnam garment makers are struggling as EU and US buyers cancel orders over the Covid-19 crisis. Revenue falls and staff cuts loom.

KTG starts construction of ready-built factory in Nhon Trach 3B Industrial Centre

Khai Toan Group (KTG) has recently begun the construction of a ready-built factory in Nhon Trach 3B Industrial Center in Dong Nai province, featuring its Industry...


MOST READ


Back To Top