EVN suggests second revision of retail electricity prices
The Vietnam Electricity (EVN) Group has suggested the Government, ministries and agencies allow it to revise up retail electricity prices in the coming time to ensure a balance in its production and business operations, according to a seminar held by the Vietnam Energy Association in Hanoi on July 28, 2023.
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| Illustrative image (Photo: VNA) |
According to EVN, if electricity payments are made in accordance with the contracts, it is projected to face cash flow shortages from July to December 2023. To ensure cash flows for purchasing coal, oil, and gas for electricity production, EVN currently owes money to power generation units.
In the coming time, there is a possibility that EVN may not have sufficient funds to pay for electricity purchases from power generation units, which could impact the continuous operations of power plants and consequently affect the supply of electricity.
EVN suggested the Government consider amending or replacing the Prime Minister’s Decision No. 24/2017/QD-TTg which regulates the mechanism for adjusting the average retail electricity prices.
It also proposed the Government instruct the State Bank of Vietnam to provide interest-free loans for EVN to pay electricity bills to power generation units, thus ensuring timely purchase of raw materials for power generation.
The Government and relevant ministries, agencies were suggested to allow EVN to make temporary payments for electricity purchases at a suitable level based on EVN's financial capacity until retail electricity prices are adjusted promptly and fully reflect all costs.
(Source: VNA)
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