HANOI, Nov. 9 (Xinhua) -- The state-owned utility Vietnam Electricity (EVN) on Thursday raised its average retail electricity price by 4.5 percent, local media reported.
The average price was raised to 2,006.79 Vietnamese dong (0.082 U.S. dollar) per kilowatt hour, excluding value-added tax.
Nguyen Dinh Phuoc, the EVN's head accountant, said the electricity price increase would enable the EVN to get an additional amount of approximately 3.2 trillion dong (131.3 million dollars) from now until the end of the year and help overcome some of the group's difficulties seen in 2023, the online VnExpress newspaper reported.
It is the second time Vietnam's retail electricity price has been adjusted this year, after a 3 percent increase in May.
The EVN suffered losses of 36.29 trillion dong (1.5 billion dollars) in 2022 due to a year-on-year increase of 9.27 percent in electricity production costs, according to the Ministry of Industry and Trade. ■