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Electricity prices go up 6.8% next month

VGP – The Ministry of Industry and Trade (MIT) on February 26 officially announced a new table of retail prices of electricity, applicable since March 1.

02/26/2010 14:37

Poor households consuming less electricity can enjoy price subsidy – Illustration photo 

A representative of MIT was quoted as saying that the average increase of 6.8% in retail power prices is appropriate and will not affect the economy and people’s daily life.

Accordingly, families using less than 50 kWh per month will not be affected by the rise in prices and continue to pay the current price of VND 600/kWh. The decision is a support to poor households, low-income households and families of civil servants.

Retail power prices for those consuming more than 50 kWh a month range between VND 1,004-1,890 per kWh.

The adjustment of power prices is a step to apply market rules to pricing some commodities, including electricity. 

The initial estimates show that, in 2010, all industries will have to pay additional around VND 2,630 billion for electric power. Households consuming up to 100 kWh per month will have to give an extra fee of around VND 7,000 a month in maximum.

The adjusted power prices can make GDP growth rate to drop around 0.34% and CPI surge about 0.16%. 

Table of retail prices of electricity

No.

Monthly consumption

Prices (VND/kWh)

2010

2009

1.

50 kWh

600

600

2.

51 – 100 kWh

1,004

865

3.

101 – 150 kWh

1,214

1,135

4.

151 – 200 kWh

1,594

1,495

5.

201- 300 kWh

1,722

1,620

6.

301 – 400 kWh

1,844

1,740

7.

Over 401 kWh

1,890

1,790

 By Kim Loan