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, heard a seminar held by the Vietnam Energy Association in Hanoi on July 28.
Hanoi (VNA) – The Vietnam Electricity (EVN) Group hassuggested the Government, ministries and agencies allow it to revise up retail electricityprices in the coming time to ensure a balance in its production andbusiness operations, heard a seminar held ✤by the Vietnam Energy Association inHanoi on July 28.
According to EVN, if electricity paymentsare made in accordance with the contracts, it is projected to face cash flowshortages from July to December 2023. To ensure cash flows for purchasing coal, oil, andgas for electricity production, EVN currently owes money to power generationunits. In the coming time, there is a possibilitythat EVN may not have sufficient funds to pay for electricity purchases frompower generation units, which could impact the continuous operations of powerplants and consequently affect the supply of electricity. EVN suggested the Government consider amending or replacingthe Prime Minister’s Decision No. 24/2017/QD-TTg which regulates the mechanismfor adjusting the average retail electricity prices. It also proposed the Government instruct theState Bank of Vietnam to provide interest-free loans for EVN to pay electricitybills to power generation units, thus ensuring timely purchase of raw materialsfor power generation. The Government and relevant ministries,agencies were suggested to allow EVN to make temporary payments for electricitypurchases at a suitable level based on EVN's financial capacity until retailelectricity prices are adjusted promptly and fully reflect all costs./.
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Illustrative image (Photo: VNA) 
