Latest regulations on retail electricity prices

Under the decision, the minimum average retail electricity price shall be increased by 220.03 to VND 1,826.22 (around US$0.78) per kWh.

Meanwhile, the maximum average retail electricity price shall be increased to VND2,444.09 from VND1,906.42 per/kWh.

Viet Nam's installed power-generation capacity reached 76,620 MW by the end of 2021, up approximately 7,500 MW compared to 2020, according to Tran Dinh Nhan, CEO of the Electricity of Viet Nam.

Of the above figure, renewable energy accounted for 27 percent, Tran added.

At the 26th United Nations Climate Change Conference of the Parties in 2021 (COP26) organized in Glasgow, UK, Vietnamese Prime Minister Pham Minh Chinh committed to achieving net zero emissions by 2050.

After the event, Viet Nam has taken serious steps towards making the commitment a reality by revising the Master Power Development Plan with significant consideration of renewable energy development.

According to the version of the plan published in February 2022, total power capacity installed by 2030 will be about 146,000 MW and rise to more than 352,000 MW by 2045./.