The Ministry of Industry and Trade has just proposed to continue adjusting electricity prices in 2024 to reflect fluctuations in input costs and help Vietnam Electricity Group (EVN) have resources to pay investors of power plants.
This proposal was made by the Ministry of Industry and Trade in the context that EVN's financial situation is still very difficult due to a loss of about VND 17,000 billion in 2023, despite having adjusted the selling price twice.
According to Mr. Dang Hoang An, Chairman of EVN, the main reasons for the increase in electricity production costs are that fuel prices are still much higher than in previous years, the structure of mobilizing electricity sources is not favorable due to poor water situation in hydroelectric reservoirs, the cost of purchasing electricity on the electricity market is high, and the payment cost is higher than the contracted electricity price.
Mr. Nguyen Hoang Anh, Chairman of the State Capital Management Committee at Enterprises, also said that without increasing electricity prices, it is impossible to resolve EVN's accumulated losses.
PHUC VAN
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