The price of electricity has been raised to an average VND1,508.85 per kWh (exclusive of value added tax) starting today, an increase of VND71.85 (5 per cent).—Photo radiavietnam

HA NOI (Biz Hub)— The price of electricity has been raised to an average VND1,508.85 per kWh (exclusive of value added tax) starting today, an increase of VND71.85 (5 per cent).

The move was announced by the Ministry of Industry and Trade yesterday. The electricity price will range from VND993 per kWh (US$0.046) to VND2,420 per kWh ($0.1142) for households.

The adjustment aims to partly compensate for the increased cost of power generation caused by increased coal and gas prices.

Poor and low-income households that use 0 to 50 kWh per month will be charged the same amount (VND993) as before but households that use 100-400 kWh per month will be charged an additional VND6,800 to VND37,000 per month.

The last electricity price rise was on December 22 last year, an increase of 5 per cent (or VND68 per kWh) to VND1,437 per kWh.

The latest rise is expected to cause concern among the public and businesses, many of which are struggling to cope with the economic recession. — VNS