Source: VOVNEWS

Electricity will be sold at an average price of VND1,369 per kWh from July 1, up VND65 per kWh or 5 per cent over the current price.

According to a recent Circular by the Ministry of Industry and Trade (MoIT), prices of electricity for poor and low-income households will remain unchanged at 993 dong per kWh for levels up to 50kWh.

Electricity of Vietnam (EVN) said the price adjustment will not have a great impact on production and business activities or people's living standards.

It estimated that additional cost will be VND4,200 for households using an average 100kWh per month, VND8,600 for those using 150kWh per month, VND14,050 for 200kWh, VND26,050 for 300kWh and VND38,950 for 400kWh.

EVN was expected to gain an additional turnover of VND3.71 trillion ($178.37 million) from electricity sales thanks to the price hike, as it would reach a commercial electricity output of 56.8 billion kWh during the remainder of this year, the MoIT said.

The extra revenue would be used to compensate for a rise in the price of coal, which was used for electricity production, and several other costs, it said./.