Electricity Vietnam (EVN) has said it expects to record a pre-tax loss of about US$698.6 million in 2023, VN Express is reporting. The size of this loss has been attributed to the state electricity provider continuing to sell electricity at below cost price.

Key points

It currently costs EVN 2,092.78 VND per kWh to produce electricity; but
The average retail price is 1,950.32 VND per kWh; therefore
EVN loses 142.5 VND per kWh sold.

Note that, electricity prices are set by the state, with EVN able to increase prices by 3 percent, the Ministry of Industry and Trade up to 10 percent, with a price rise of more than 10 percent needing the approval of the Prime Minister.

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