The Lao Dong Newspaper Legal Consulting Office replied:
Retail electricity price is the common name of the people for the term retail electricity price.
Clause 2, Article 52 of the Electricity Law 2024 (effective from February 1, 2025) stipulates the adjustment of average retail electricity prices as follows:
a) Retail electricity prices are reflected and adjusted promptly according to actual fluctuations in input parameters, compensating for reasonable costs, in accordance with reasonable profits to preserve and develop business capital of enterprises in accordance with the socio-economic conditions of each period and the level of the competitive electricity market;
b) When the retail electricity market is in operation, the retail price of electricity is implemented according to the market mechanism;
c) The Government shall detail Point a of this Clause.
Thus, from February 2025, the adjustment of average retail electricity prices is regulated as above.
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