Adjust electricity prices in line with market and promote power-saving activities to ensure national energy security

Electricity price adjustment in 2023 is a necessity. However, increasing electricity prices is only one solution in a group of different solutions to ensure energy security, political stability and social order and safety, and a stable power supply for production and life activities. In the context of fuel price fluctuations in the world with the increasing frequency and amplitude in an increasing trend.

Saving energy is considered one of the most important solutions for ensuring national energy security. Over the past years, EVN has promoted propaganda on power saving, and thoroughly implemented solutions for economical and efficient use of electricity; promoted the implementation of non-commercial voluntary load adjustment in the Northern region, especially in the months from May to August. Specifically, in the power demand management programs (DR), the Northern Power Corporation has signed agreements with over 97% of electricity customers for an output of less than 3 million kWh/year; coordinated in building a power load forecasting module for a group of customers with a power output of about 1 million kWh/year. In 2022, Ho Chi Minh City Power Corporation alone saved 554 million kWh, accounting for 2.04% of commercial power output.

In addition, the Government and the Ministry of Industry and Trade (MOIT) directed EVN to continue researching and considering other solutions to improve the financial situation, reduce input costs, and reduce pressure on electricity price increases, including: reviewing all input factors, cost structure, clearly identifying objective and subjective causes of the current financial situation, drastically implementing solutions to reduce power production and business costs, improve the financial situation, including the application of information technology, digital transformation, negotiate with power investors, suppliers, and sellers on the principle of harmonizing benefits, sharing risks, etc.; drastic and effective implementation of programs to mobilize and propagate the practice of saving electricity; launching a movement to save electricity in the whole society and EVN's member units.

Bring electricity to highlands. Documentary photo

The cost of fuel imported to produce electricity also increases in line with world prices, thus making the cost of power generation increase with the rising fuel prices in the world and fluctuating exchange rates,  making EVN's electricity purchase cost increase. Input prices for power production, an exchange rate increase is one of the basic and objective causes affecting the cost of power production.

Bring electricity to island. Documentary photo.

Following the direction of the Government Standing Board, Ministries, and sectors, to ensure the regulation of electricity prices with a roadmap, considering the impact of electricity prices on GDP, CPI, production, and people's life in the country at the lowest level, EVN has issued Decision No. 377/QD-EVN dated April 27, 2023, on adjusting the average retail price of electricity, whereby EVN decided to adjust the average retail price of electricity to VND 1,920,3732/kWh (excluding value added tax) from May 4, 2023. This adjustment is equivalent to an increase of 3% compared with the current price, which is much lower than the scenario of price increase developed by EVN and submitted to MOIT for consideration before.

In the coming time, EVN needs to continue implementing the general orientation of the Party and the Government which is saving power, taking measures to reduce costs and increase revenue to ensure financial balance in 2023, and preserving and developing the State capital. At the same time, EVN in particular, and ministries, branches, and press agencies in general need to further communication, raise awareness and encourage enterprises to renovate technological lines, and invest in solutions for economical and efficient use of energy towards clean and green production.


  • 06/05/2023 04:58
  • evn.com.vn
  • 186