Vietnam Electricity (EVN) has announced an adjustment in the average retail electricity prices by 4.5% from Nov. 9. After four years of frozen increases, electricity prices in Vietnam have been adjusted twice this year.
In early November, EVN experts predicted that there will not be an electricity shortage in Vietnam in 2024, but prices are expected to increase. Unexpectedly, following approval of adjustment of the 2023 average retail electricity price "according to actual circumstances" by the Government's Standing Committee, EVN promptly implemented the price adjustment. The average retail electricity price is increased by 86.4168 Vietnamese dong/kWh, rising from 1,920.3732 Vietnamese dong/kWh to 2,006.79 Vietnamese dong/kWh (excluding VAT).
