Vietnam: Has Decision 2941/QD-BCT in 2023 on electricity prices been issued? What is the average retail electricity price applied from November 9, 2023?
- Has Decision 2941/QD-BCT in 2023 on electricity prices in Vietnam applied from November 9, 2023 been issued?
- What is the average retail electricity price in Vietnam applied from November 9, 2023?
- What is the detailed retail electricity tariff in Vietnam applied from November 9, 2023?
- What are the principles for increase in the average retail electricity price in Vietnam?
Has Decision 2941/QD-BCT in 2023 on electricity prices in Vietnam applied from November 9, 2023 been issued?
On November 8, 2023, the Ministry of Industry and Trade issued Decision 2941/QD-BCT dated November 8, 2023 regulating electricity prices, which promulgates retail electricity prices for electricity users and retail electricity prices for electricity retailers.
Accordingly, the Decision promulgates retail electricity prices for electricity users and retail electricity prices for electricity retailers in the attached Appendix.
This Decision is effective as of November 9, 2023.
Decision 1062/QD-BCT dated May 04, 5, 2023 of the Minister of Industry and Trade on electricity expires from the effective date of this Decision.
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What is the average retail electricity price in Vietnam applied from November 9, 2023?
Pursuant to Article 2 of Decision 2941/QD-BCT in 2023, it is stated as follows:
Article 2. The average retail electricity price is 2,006.79 VND/kWh (excluding VAT).
At the same time, in the afternoon of November 9, 2023, Vietnam Electricity also issued a Press Release on the adjustment of the average retail electricity price applied from November 9, 2023 to 2006.79 VND/kWh.
Thus, the new average retail electricity price applied from November 9, 2023 is 2006.79 VND/kWh, equivalent to an increase of 4.5% compared to the current average retail electricity price.
Note: The above average retail electricity price does not include VAT.
What is the detailed retail electricity tariff in Vietnam applied from November 9, 2023?
Pursuant to the Appendix issued together with Decision 2941/QD-BCT in 2023, the latest retail electricity tariff in Vietnam applied from November 9, 2023 is specified as follows:
No. | Customer | Retail electricity price (VND/kWh) |
1 | Retail electricity price for manufacturing industries | |
1.1 | Voltage level of 110 kV or higher | |
a) Normal hours | 1.649 | |
b) Off-peak hours | 1.044 | |
c) Peak hours | 2.973 | |
1.2 | Voltage level from 22 kV to less than 110 kV | |
a) Normal hours | 1.669 | |
b) Off-peak hours | 1.084 | |
c) Peak hours | 3.093 | |
1.3 | Voltage level from 6 kV to less than 22 kV | |
a) Normal hours | 1.729 | |
b) Off-peak hours | 1.124 | |
c) Peak hours | 3.194 | |
1.4 | Voltage level below 6 kV | |
a) Normal hours | 1.809 | |
b) Off-peak hours | 1.184 | |
c) Peak hours | 3.314 | |
2 | Retail electricity price for administrative sectors | |
2.1 | Hospitals, kindergartens, preschools, high schools | |
2.1.1 | Voltage level of 6 kV or higher | 1.766 |
2.1.2 | Voltage level below 6 kV | 1.886 |
2.2 | Public lighting works; public service providers | |
2.2.1 | Voltage level of 6 kV or higher | 1.947 |
2.2.2 | Voltage level below 6 kV | 2.027 |
3 | Retail electricity price for business | |
3.1 | Voltage level of 22 kV or more | |
a) Normal hours | 2.629 | |
b) Off-peak hours | 1.465 | |
c) Peak hours | 4.575 | |
3.2 | Voltage level from 6 kV to less than 22 kV | |
a) Normal hours | 2.830 | |
b) Off-peak hours | 1.666 | |
c) Peak hours | 4.736 | |
3.3 | Voltage level below 6 kV | |
a) Normal hours | 2.870 | |
b) Off-peak hours | 1.746 | |
c) Peak hours | 4.937 | |
4 | Retail electricity price for domestic purpose | |
4.1 | Retail price of domestic electricity | |
Level 1: For kWh from 0 - 50 | 1.806 | |
Level 2: For kWh from 51 - 100 | 1.866 | |
Level 3: For kWh from 101 - 200 | 2.167 | |
Level 4: For kWh from 201 - 300 | 2.729 | |
Level 5: For kWh from 301 - 400 | 3.050 | |
Level 6: For kWh from 401 and above | 3.151 | |
4.2 | Retail price of domestic electricity using prepaid card meters | 2.649 |
5 | Rural electricity wholesale prices | |
5.1 | Wholesale price of domestic electricity | |
Level 1: For kWh from 0 - 50 | 1.506 | |
Level 2: For kWh from 51 - 100 | 1.566 | |
Level 3: For kWh from 101 - 200 | 1.704 | |
Level 4: For kWh from 201 - 300 | 2.112 | |
Level 5: For kWh from 301 - 400 | 2.392 | |
Level 6: For kWh from 401 and above | 2.492 | |
5.2 | Wholesale electricity price for other purposes | 1.577 |
6 | Wholesale electricity prices in collective areas, residential clusters | |
6.1 | Cities and towns | |
6.1.1 | Wholesale price of domestic electricity | |
6.1.1.1 | The transformer station invested by the electricity seller | |
Level 1: For kWh from 0 - 50 | 1.686 | |
Level 2: For kWh from 51 - 100 | 1.746 | |
Level 3: For kWh from 101 - 200 | 1.976 | |
Level 4: For kWh from 201 - 300 | 2.501 | |
Level 5: For kWh from 301 - 400 | 2.822 | |
Level 6: For kWh from 401 and above | 2.917 | |
6.1.1.2 | The transformer station invested by the electricity buyer | |
Level 1: For kWh from 0 - 50 | 1.661 | |
Level 2: For kWh from 51 - 100 | 1.721 | |
Level 3: For kWh from 101 - 200 | 1.918 | |
Level 4: For kWh from 201 - 300 | 2.424 | |
Level 5: For kWh from 301 - 400 | 2.727 | |
Level 6: For kWh from 401 and above | 2.851 | |
6.1.2 | Wholesale price of electricity for other purposes | 1.591 |
6.2 | Towns and district capitals | |
6.2.1 | Wholesale price of domestic electricity | |
6.2.1.1 | The transformer station invested by the electricity seller | |
Level 1: For kWh from 0 - 50 | 1.627 | |
Level 2: For kWh from 51 - 100 | 1.687 | |
Level 3: For kWh from 101 - 200 | 1.875 | |
Level 4: For kWh from 201 - 300 | 2.373 | |
Level 5: For kWh from 301 - 400 | 2.670 | |
Level 6: For kWh from 401 and above | 2.760 | |
6.2.1.2 | Transformer station invested by the electricity | |
Level 1: For kWh from 0 - 50 | 1.602 | |
Level 2: For kWh from 51 - 100 | 1.662 | |
Level 3: For kWh from 101 - 200 | 1.833 | |
Level 4: For kWh from 201 - 300 | 2.273 | |
Level 5: For kWh from 301 - 400 | 2.575 | |
Level 6: For kWh from 401 and above | 2.663 | |
6.2.2 | Wholesale price of electricity for other purposes | 1.591 |
7 | Wholesale electricity prices for commercial-service-domestic complexes | |
7.1 | Wholesale price of domestic electricity | |
Level 1: For kWh from 0 - 50 | 1.772 | |
Level 2: For kWh from 51 - 100 | 1.830 | |
Level 3: For kWh from 101 - 200 | 2.125 | |
Level 4: For kWh from 201 - 300 | 2.676 | |
Level 5: For kWh from 301 - 400 | 2.991 | |
Level 6: For kWh from 401 and above | 3.089 | |
7.2 | Wholesale price of electricity for other purposes | |
a) Normal hours | 2.720 | |
b) Off-peak hours | 1.654 | |
c) Peak hours | 4.677 | |
8 | Wholesale electricity prices for industrial parks and industrial clusters | |
8.1 | Wholesale price of electricity at the 110 kV busbar of the 110 kV/35-22-10-6 kV transformer station | |
8.1.1 | The total installed capacity of the MBAs of the transformer station is greater than 100 MVA | |
a) Normal hours | 1.587 | |
b) Off-peak hours | 1.017 | |
c) Peak hours | 2.910 | |
8.1.2 | The total installed capacity of the MBAs of the transformer station is from 50 MVA to 100 MVA | |
a) Normal hours | 1.581 | |
b) Off-peak hours | 987 | |
c) Peak hours | 2.897 | |
8.1.3 | The total installed capacity of the MBAs of the transformer station is less than 50 MVA | |
a) Normal hours | 1.573 | |
b) Off-peak hours | 982 | |
c) Peak hours | 2.879 | |
8.2 | Wholesale electricity price in medium voltage of the 110/35-22-10-6 kV transformer station | |
8.2.1 | Voltage level from 22 kV to less than 110 kV | |
a) Normal hours | 1.638 | |
b) Off-peak hours | 1.064 | |
c) Peak hours | 3.034 | |
8.2.2 | Voltage level from 6 kV to less than 22 kV | |
a) Normal hours | 1.697 | |
b) Off-peak hours | 1.102 | |
c) Peak hours | 3.132 | |
9 | Wholesale price of electricity for the market | 2.562 |
What are the principles for increase in the average retail electricity price in Vietnam?
Pursuant to the provisions of Article 3 of Decision 24/2017/QD-TTg stipulating the mechanism for adjustment of average retail electricity price in Vietnam promulgated by the Prime Minister of Vietnam as follows:
Principles for adjustment of average retail electricity price
1. Upon the annual inspection of the prime costs for production of electricity of Vietnam Electricity (EVN), the average electricity price shall be considered and adjusted according to the unforeseen change in input parameters of all phases (including generation, transmittal, distribution – retail, administration and ancillary services in order to ensure the operation of electricity system) which are used to calculate the current average electricity price.
2. The average electricity price shall be considered and adjusted in the year upon the change in basic input parameters in the phase of electricity generation that have been used for determining the current average electricity price.
3. When there is a change in the input parameters prescribed in Clause 1 and Clause 2 of this Article resulting in decrease in the average electricity price compared to the current average electricity price, the price of electricity needs to be lowered.
4. When there is change in the input parameters prescribed in Clause 1 and Clause 2 of this Article resulting in increase in the average electricity price of 10% or above in comparison with the current average electricity price, the price of electricity needs to be raised.
5. The average electricity price may be adjusted after a period of at least 06 months as from the latest adjustment thereof.
6. EVN is authorized to rise or reduce the average electricity price within the price bracket announced by the Prime Minister.
If the average electricity price is 10% or above higher than the current average electricity price or is out of prescribed bracket of electricity price or may influence on the macroeconomic status following the calculation, the Ministry of Industry and Trade shall take charge and cooperate with the Ministry of Finance in examining, reviewing and submitting reports thereof to the Prime Minister for making decision on the adjustment of the average electricity price. The Ministry of Industry and Trade may cooperate with the Ministry of Finance to submit reports the Price Administration Steering Committee before submitting reports to the Prime Minister, where necessary.
7. The adjustment of the average electricity price must be transparent and disclosed to the public.
Thus, currently, the increase in the average retail electricity price in Vietnam must comply with the above 07 principles.
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