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Nguyen Tan Loc, Deputy General Director of Vietnam Electricity (EVN) has said that it will seek government approval for two more power price increases from now to the end of 2012, each of 5 percent.
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Loc said that Vietnam’s industrial manufacturing sectors are consuming as much as 47 percent of the total power output, with cement and steel production being heavy consumers. However, the price of power sold to steel and cement producers are currently lower than the average electricity price by around 0.7-0.9 US cents per kWh. EVN has been allowed to delay its debt payment to Vietnam Oil and Gas Group and Vietnam Coal and Mineral Industries Group until the next price increase.
Loc has recommended that the government revise up the power tariff to match the cost, but continue to provide price support for low-income households. He also proposed that the government encourages businesses, especially high power consumers, to innovate their production technology and equipment. Loc recommended that the government prohibit import of low-efficiency manufacturing equipment when superior products are available.