Average electricity prices have increased by 4.8 percent to VND 2,103.1159 per kilowatt-hour, state power provider Electricity Vietnam, or EVN, has announced in a press release. This adjustment is aimed at aligning electricity prices with production costs which have risen by 2.79 percent year on year. This does, however, still not cover costs with the gap between the production cost and regulated retail price, before the adjustment was made, estimated at 6.92 percent.
Of note, EVN has been running at a loss for some time and banking huge losses with no retail power prices increases in the four years to November 2023.
For reference, the average electricity price for the world is 15.5 US cents per kilowatt-hour with electricity in Vietnam running at about 7.5 US cents per kilowatt-hour.