Electricity prices have been increased by 4.8% starting May 10. Under the new pricing structure, the highest retail rate for commercial electricity now reaches VND 5,422 (approximately USD 0.21) per kWh, depending on voltage level and usage time.

Retail electricity prices for commercial use are categorized by three voltage levels, with rates varying according to time-of-use blocks:

For voltage levels from 22 kV and above, the standard-hour price is VND 2,887 (USD 0.11) per kWh, off-peak is VND 1,609 (USD 0.06), and peak-hour pricing is VND 5,025 (USD 0.20).

For voltage levels between 6 kV and under 22 kV, the standard-hour price is VND 3,108 (USD 0.12), off-peak is VND 1,829 (USD 0.07), and peak-hour pricing is VND 5,202 (USD 0.21).

For voltage levels under 6 kV, the standard-hour price is VND 3,152 (USD 0.12), off-peak is VND 1,918 (USD 0.08), and peak-hour pricing reaches the highest rate of VND 5,422 (USD 0.21) per kWh.

The VND 5,422 per kWh rate, applied during peak hours for consumers using power at voltage levels below 6 kV, is the highest among all retail electricity pricing tiers recently issued by the Ministry of Industry and Trade.

Discussing this price adjustment, Vo Quang Lam, Deputy General Director of Vietnam Electricity (EVN), noted that in 2024, EVN is expected to generate and purchase about 33.6 billion kWh of electricity, mostly from high-cost sources such as coal-fired, gas-fired, oil-fired, and renewable energy.

Notably, during the first four months of this year, the costs of imported coal, gas, and oil continued to rise. Based on its operational plans, EVN has conducted regular reviews, calculations, and submitted proposals to regulatory authorities to adjust the electricity prices accordingly.

According to Lam, this price adjustment was carefully considered based on input costs, market fluctuations, and the affordability for households and businesses. He affirmed that the 4.8% increase is relatively reasonable under current conditions.

Tam An