According to the opinions of consumers, businesses, experts and leaders at all levels, the Ministry of Industry and Commerce is drafting a decree amending Decree 95 and Decree 83, considering the plan to control gasoline prices in a shorter cycle (less than 10 days) and be widely consulted by relevant stakeholders as directed by the Prime Minister and the Government.

Regarding EVN’s proposal, Mr. Hai said that there is a regulation on the mechanism for adjusting electricity prices during the year in Prime Minister’s Decision No. 24/2017/QD-TTg, according to which EVN updates the cost of electricity generation on a quarterly basis . Electricity of the previous quarter, the input parameters of the electricity generation phase of the remaining quarters of the year are expected to recalculate the average retail price of electricity.

If the input parameters in the power generation stage change and the calculated average retail price for electricity increases by 3% or more, the electricity price is allowed to increase, if it decreases, the electricity price is adjusted downwards.

“Therefore, the current regulations have a mechanism in place to ensure that electricity prices are closely aligned with input prices, ensuring that price fluctuations in the market are reflected in the average retail price of electricity,” said the Deputy Minister for Industry and Trade.

However, the price of electricity differs from the price of petrol. The cost of electricity generation and business is highly dependent on the seasons, namely the rainy season and the dry season. In the rainy season, the amount of water entering the reservoirs is high, and the hydroelectric power plants (with low electricity generation costs) are mobilized in moderation, resulting in lower overall costs for electricity generation and business.

Meanwhile, in the dry season, when more needs to be mobilized, thermal energy sources are more expensive because the hydroelectric power station does not have enough water to generate much and ensure power supply for the economy and people’s needs Shark analyzed.

Therefore, Decision No. 24/2017/QD-TTg states very clearly that the average time for the average electricity price adjustment is at least 6 months after the last electricity price adjustment to reflect the fluctuations of the customers in the above mentioned costs. The last electricity price adjustment took place on March 20, 2019. The electricity price had therefore not been adjusted for 4 years until March 2023.

In addition, since electricity prices have a great impact on the macro economy and people’s lives, the management of electricity prices must be calculated, carefully considered and fully evaluated. Decision No. 24/2017/QD-TTg also clearly stipulates that the electricity price adjustment plan must be reported to the Prime Minister for consideration and opinion on the electricity price adjustment plan prior to implementation.

According to Deputy Minister Do Thang Hai, in the past period, the world has experienced unpredictable fluctuations in energy prices, electricity prices rose in many countries around the world, some countries had to take turns cutting electricity.

In addition, the synergistic effects of geopolitical tensions in Europe, exchange rate fluctuations between the US dollar and many other currencies, and the pressures of rising inflation are having a major impact on electricity generation and business costs in particular, and production and business costs in general around the world Electricity prices in many countries around the world . Electricity prices have also risen many times over in some countries.

Vietnam is no exception, statistics show that the average price of imported coal for power plants increased by more than 150% in the first 10 months of 2022 compared to the average in 2021, the domestic coal price for By the end of the third quarter of 2022 Vietnam Coal-Mineral Industry Group and Northeast Corporation are up more than 50% compared to the start of the year.

“These things have made production and electricity costs higher than expected earlier this year,” said the head of the Ministry of Industry and Trade.

The government has mandated the Ministry of Industry and Trade to coordinate with the relevant ministries and sectors to examine the plan proposed by EVN under the provisions of Decision No. 24/2017/QD-TTg on the development of a price adjustment roadmap and to be processed on the basis of careful assessment, careful consideration and full of implications for inflation and especially for the lives of people who are still facing many difficulties after the recent epidemic and in the context of global economic fluctuations.

“In this regard, the Ministry of Industry and Commerce will carefully calculate, check and report to the relevant authorities in accordance with the regulations, so that the electricity price adjustment is reasonable and the impact on the economy, society and people’s lives in the adjustment is minimized. confirmed the Deputy Minister of Industry and Trade.