At a meeting presided by the Deputy PM, he made the request. Additionally, he asked the Vietnam Electricity Group (EVN) to cut production cost. Deputy PM Hue said during two past months, the price hike of petroleum, pork, food and gas went up along with complicated surge in the world market has put pressure on price control mission. However, relevant agencies must keep the country’s consumer price index (CPI) average growth in 2018 below 4 percent. Head of the Pricing Control Department under the Ministry of Finance said that average in first five months, CPI hiked by 3.01 percent compared to the same period last year. It is forecast that from now on, many factors of pricing adjustment of some commodity items namely medical service, education, basic salary, environment protection tariff will place pressure on CPI. Mr. Hue said Vietnam surely can control CPI under 4 percent in 2018; accordingly, he ordered ministries to keep prices of commodity items stable to beef up … [Read more...] about Deputy PM: electricity price not hike in 2018
Electricity price increase
Vietnam’s National Coal-Mineral Industries Group said the planned increase in environmental tax would hurt the coal mining industry and increase electricity prices. Under the finance ministry’s proposal, which is pending parliamentary approval, the environmental tax for anthracite coal would increase from VND20,000 to VND30,000 per ton, while bituminous coal and lignite would have their environmental taxes increased from VND10,000 to VND15,000 per ton. The proposal, which also covers petroleum and diesel, is intended to encourage the use of environmentally friendly fuels, energy efficiency and reduce greenhouse gas emissions. The coal tax would add VND800 billion ($35.7 million) each year to the state budget, according to government calculations. However, Nguyen Hoang Trung, vice director of the National Coal-Mineral Industries Group, said the increased tax on coal would not only impede the coal mining industry’s development, but also increase the price of … [Read more...] about Proposed environmental tax on coal would inflate electricity price: expert
VietNamNet Bridge - While Vietnamese believe that the Electricity of Vietnam (EVN), the only electricity retailer, sets high retail prices, international reports point out that the electricity price in Vietnam is lower than in other countries. The retail electricity price has increased by 6.08 percent Southeast Asia Energy Outlook 2017 commented that the price in Vietnam is relatively low compared with other regional countries. The report says the state is still indirectly subsidizing electricity production, so the electricity price doesn’t truly reflect production costs. Vietnam is pursuing a plan to gradually raise retail prices to help power generators, including EVN, cover expenses. The report said the power sector in Vietnam has been doing well with an electricity access rate ranking third in South East Asia and a low proportion of population (2 percent) having no power. Another report on Vietnam’s energy, the World Bank’s Electricity Tariffs, … [Read more...] about Is the electricity price in Vietnam too low or too high?
The consumer price index (CPI) in the country's two largest cities continued to rise in August, according to the statistics departments of Hanoi and HCM City. The Hanoi Statistics Department reported that the capital's CPI rose in August by 0.19 percent over July, and increased 3.32 percent over the same period last year. The department added that the CPI increase in the capital city in August is equivalent to the previous month, despite the decrease in staple items, such as housing, building materials, electricity, tap water, fuel and transport costs. The CPI increase in Hanoi is attributed to the rising costs in restaurants and food services, which rose 0.38 per cent against the previous month. Also, the surge of food and foodstuff prices increased by 0.66 per cent against the previous month due to the high demand of the public during the seventh lunar month of this year and the upcoming Mid-Autumn Festival. Additionally, the garment and textile, and … [Read more...] about CPI prolongs rise in major cities as food costs increase lúc : Friday, August 22, 2014 – 11:20:00
The 7.5 percent increase in electricity prices from March 16 is forecast to raise this year’s consumer price index (CPI) by 0.23 percent, said Nguyen Anh Tuan, Director General of the Ministry of Industry and Trade’s Electricity Regulatory Authority. The hike will translate into an additional 4,800 VND (0.22 USD) for each household consuming 50 kWh of power a month, while those using 100 kWh a month will pay about 9,800 VND (0.46 USD) more, he said. Tuan added since the price rise will affect low-income and disadvantaged families, State financial support for the electricity bills of these households will be increased by 153 billion VND (7.28 million USD) a year from the current 1 trillion VND (47.61 million USD). A survey by Vietnam News Agency reporters shows that the price augmentation will have its largest impact on big power-consuming industries. Truong Quoc Huy, General Director of the Vicem But Son Cement Joint Stock Company, said his firm uses about 100 kWh of … [Read more...] about Bản in : Power price hike to raise 2015 CPI by 0.23 percent