A report by Vietnam Electricity Group (EVN) said that due to the impact of the geopolitical situation in the world, the high cost of electricity purchase in the period of 2022 - 2023 has led to many difficulties for EVN in production and business activities, the accumulated loss for the past 2 years is about 50,029 billion VND.
By the end of 2024, the accumulated loss of parent company - EVN is still about 44,792 billion VND. This leads to a decrease in state investment capital in EVN, which cannot preserve state investment capital in enterprises.
EVN recommends that the Minister of Industry and Trade report to the Prime Minister to allow the calculation of accumulated losses as a cost allowed to be included in the average retail price of electricity.
There were many very serious criticisms related to EVN's proposal. From 2023 to now, electricity prices have been adjusted up three times in a row, now calculating the loss in electricity prices means continuing to increase prices.
Putting losses on consumers' shoulders is not convincing.
Firstly, EVN is a business participating in electricity business, if it loses, it is the business's responsibility. There cannot be a loss, forcing customers to bear that loss.
Second, EVN lost more than 44,000 billion, must be transparent in business operations and expenses. It is impossible for EVN to announce as much damage as it has to compensate.
Business activities have many costs, there are unreasonable expenses leading to losses, and it is necessary to clarify those expenses.
Poor management is also a cause of losses. Therefore, it is impossible to spend money to compensate for the weakness in management of a business.
The question is whether EVN has optimized the management and production, transmission, and distribution of electricity to save maximum costs, or vice versa.
Not to mention, EVN may have unreasonable investments, but those investments must also be transparent.
Audit and make the above items transparent to make correct and convincing compensation to management agencies as well as the people.
Consumers can accept an increase in electricity prices or state budget support, but on the condition that EVN's losses are not due to loss, waste, or poor management.
The State can increase electricity prices to compensate partly, but it must be reasonable, people cannot close their eyes and bear losses for businesses, that is against market rules.
