At the press conference on the afternoon of May 9, EVN announced that the average retail price of electricity increased from VND 2,103.11 to VND 2,204.07 per kWh (excluding VAT), equivalent to an increase of 4.8%.
Electricity prices are considered for change every three months, when input costs increase by 2% or more, according to Decree 72 of the Government. That is, there will be 4 price changes each year. Most recently, electricity prices were adjusted on October 11, 2024, remaining there until now. Thus, after 8 months, the price has been changed and this is the first increase this year.
To ensure electricity supply for socio-economic development and people's daily life, EVN has been implementing the National Power System Supply and Operation Plan for 2025, in which the growth rate of commercial electricity in 2025 is expected to be about 12.2%, the total electricity output of the entire system in 2025 will increase by about 33.6 billion kWh compared to 2024.
Regarding the power source structure in 2025, low-cost hydropower sources will only provide about 25% of the total system output; the remaining 75% of the system output will be provided from high-cost power sources such as coal, gas, oil, renewable energy, etc.
For the additional electricity output of the system, it is basically necessary to mobilize from high-cost power sources such as: oil-fired thermal power sources, liquefied natural gas turbine thermal power sources (LNG) and imported coal-fired thermal power sources. In addition, in recent times, the foreign exchange rate (USD) has been unpredictable and increasing. This affects the cost of power generation, which accounts for about 83% of the cost of power generation.
In the context of the cost of power generation tending to increase in recent years, EVN and its member units have resolutely implemented cost reduction and saving with the requirement that in 2025, regular cost savings, major repairs must reach at least 10% and closely coordinate with the National Power System and Market Operation Company Limited to optimize the power system and the power market to ensure safe and continuous power supply.
