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Many Vietnamese businesses expect to save money on power so they aren't forced to increase prices for consumers. — Illustrative image/ File Photo
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HA NOI (Biz Hub) — Businesses are looking to save power to lower expenses and avoid increasing prices after the cost of electricity rose 7.5 per cent in mid-March.
Many Vietnamese businesses expect to save money on power so they aren't forced to increase prices for consumers.
Son Viet Garment Company in HCM City uses hundreds of electric sewing machines and steam machines, and consumes a large amount of power. Ha Xuan Anh, chairman of the firm's management board, said that when production expenses increased, the firm had to raise its prices, which wasn't a wise choice in this economy.
The price hike also affected cement and supplement production, said Nguyen Quang Cung, president of the Viet Nam Cement Association. Cement prices would need to be raised between VND17,000 and 20,000 per tonne to cover the losses. But raising prices would hurt customers and competitiveness in the international market, he added.
Supermarkets have also been paying exorbitant sums for electricity. Big ones pay hundreds of millions of dong per month, while smaller stores pay tens of millions.
Many businesses have redesigned production workshops, and focused on maintaining machines and production lines to reduce electricity use.
Some enterprises have increased night shifts to benefit from the lower price of electricity.
Specialised staff
Ha Noi's Industry and Commerce Department surveyed 92 key businesses in the city about their electricity use. About 60 per cent had specialised staff and strategies for saving power.
Ha Noi set a goal to use 6 to 9 per cent less electricity in 2015.
Dao Hong Thai, director of the Ha Noi Power Saving Centre, said that since last year the centre had provided enterprises power-saving solutions. It also helped enterprises in Quang Minh and Thang Long industrial zones use power-saving equipment, Thai said. Five enterprises were given 28 ideas that helped them save VND3.55 billion (US$165,000) per year.
Besides, the centre also helped more than 20 businesses in Gia Lam District save VND720 million (US$33,200) per year, he added.
The city will continue giving companies solutions on technology renewal and modern management methods. — VNS