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Price of power to rise 6.8 pct next month

In Vietnam Economy on February 28, 2010 at 11:30 am

Price of power to rise 6.8 pct next month

QĐND – Friday, February 26, 2010, 22:23 (GMT+7)

The price of electricity will increase by an average of 6.8 percent starting March 1, the Ministry of Industry and Trade announced on February 26.

Accordingly, the price will stand at 1,058 VND/kWh and the retail price for production and trading services will go up by 6.3 percent, standing at 1,009 VND/kWh and 1,919 VND/kWh, respectively.

However, the retail power price for families using less than 50 kWh per month will remain at 600 VND/kWh as a support for low income households.

The higher rates will have no great impact on the public or the economy, Do Huu Hao, deputy minister of Industry and Trade said at a press briefing.

It will reduce the growth of the country’s gross domestic product by around 0.34 percent and directly push up the consumer price index by 0.16 percent this year, he said, adding that electricity expenditures for the production sector would grow by nearly 1 percent.

Deputy General Director of Electricity of Vietnam (EVN) Dinh Quang Tri said with the increase, the average electricity price in Vietnam will reach about 5.54 cents/kWh–higher than the price in Laos but lower than that of other countries in the Association of Southeast Asian Nations (ASEAN).

Source: VNA

Source: QDND

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