Staff of Việt Nam Electricity check meters. — VNA/VNS Photo Ngọc Hà HÀ NỘI — The common retail power price is expected to be applied at the beginning of next year together with the current tiered pricing mechanism, said Deputy Minister of Industry and Trade Đỗ Thắng Hải. Hải told the regular Government meeting on Monday that the ministry has been collecting opinions on a new calculation for power prices and would submit it to the Government for approval in August. Under the new rules, households could choose either a common price or the current tiered pricing mechanism. However, the current six tiers would be reduced to five as it ensures all households with power consumption of less than 700 kWh (98.2 per cent of the total) would not face increased power bills. The one retail power price would be built based on the average electricity production cost of VNĐ1,864 per kWh without value-added tax (VAT). The study of the new calculation came about as many households were surprised with surging power bills in May, June and July and to give more choices to customers. Nguyễn Tiến Thỏa, chairman of Việt Nam Valuation Association and former Director of Price Management Department,… Read full this story
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