On 11 October 2024, Electricity Vietnam (EVN) and the Ministry of Industry and Trade (MOIT) issued Decision No. 1046/QD-EVN (Decision 1046) and Decision No. 2699/QD-BCT (Decision 2699) respectively on the increment of electricity retail price. Accordingly, under the Decision 1046, the average electricity retail price is adjusted to VND2,103.1159/kWh (exclusive of VAT) from Decision 1046’s issuance date. Further, according to Decision 2699, the average electricity price is set to increase to the same price as stated in Decision 1046 for customers using electricity with the same effective date. With the issuance of Decision 1046 and Decision 2699, the average electricity retail price increased by 4.8% compared to the latest official retail price.
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Please do not hesitate to contact Dr. Oliver Massmann under omassmann@duanemorris.com if you have any questions on the above. Dr. Oliver Massmann is the General Director of Duane Morris Vietnam LLC.