The Ministry of Industry and Trade (MoIT) has decided to cut power bills for businesses and households by 10 per cent over the next three months to ease their difficulties amid the COVID-19 pandemic.

The reduction will be applied for bills in April, May and June, or May, June and July.

Under the decision, a 10 per cent reduction will be applied to electricity prices for households which have electricity consumption of less than 300kWh.

Businesses will receive a 10 per cent discount during peak, normal and off-peak hours. Tourist accommodation will enjoy the same tariffs applied for producers.

The ministry has also decided to offer free power for medical facilities and quarantine areas. Establishments that provide medical examinations, testing and treatment for confirmed and suspected COVID-19 cases will receive a 20 per cent discount for electricity prices.

A 20 per cent cut will be given to hotels which register to become isolation areas.

The MoIT estimated that the total reduction for customers would be worth up to VND11 trillion (US$470 million). Of which, producers and firms would see VND6.1 trillion cut from their bills, while households would save VND2.9 trillion. Tourist accommodation could save up to VND1.8 trillion under the move.

The ministry will supervise electricity units to ensure the cuts are implemented.

Electricity output in Q1

Electricity output in the first quarter of the year reached 57.29 billion kWh, posting a 6.3 per cent year-on-year increase, according to Viet Nam Electricity (EVN).

Of which, the output of hydropower plants was 8.93 billion kWh and thermopower plants 9.46 billion kWh. Solar energy reached 2.31 billion kWh, 28 times higher than the same period last year.

EVN said the increasing power output had ensured stable and safe electricity sources for production, business and living as well as serving for the prevention of the COVID-19 pandemic. — VNS