EVN Ha Noi workers check electricity meters in Ba Vi Town. — VNA/VNS Photo Ngoc Ha

HA NOI (Biz Hub) — Prime Minister Nguyen Tan Dung has issued a decision on electricity retail prices that will apply to six price levels instead of the current seven levels.

The decision, which will take effect from the beginning of June, stipulates that power tariffs for households consuming 0-50kWh will be 92 per cent of the average price, 95 per cent for 51-100kWh, 110 per cent for 101-200kWh, 138 per cent for 201-300kWh, 154 per cent for 301-400kWh and 159 per cent for more than 401kWh.

The current regulation divides power retail prices into seven levels. Accordingly, the first level of 0-50kWh has been established for poor households, while the remaining six levels have been applied to all households.

Customers would therefore enjoy cheaper prices if their consumption fell into the fifth bracket of 301-400kWh.

Retail power tariffs will also be adjusted for industrial activities.

The new decision stipulates a common price for two groups of production and water-pumping sectors instead of the current two levels of pricing. The new tariff will be one per cent higher than the current price.

Retail prices applied to businesses will also be reduced by five per cent during normal business hours, three per cent during off-peak hours and eight per cent during rush hours for 6-22kV. — VNS