MoIT proposes 10% cut to power bills

HÀ NỘI — The Ministry of Industry and Trade (MoIT) has proposed cutting power bills for businesses and households over the next three months to help them cope with the COVID- 一 九 pandemic.

The plan, which has been submitted to the PM, would involve reducing power bills for households with consumption of less than  三00kWh a month by  一0 per cent. The total estimated reduction would be around VNĐ 二. 九 trillion (US$ 一 二 三. 一 million).

Households which use more than  三00kWh a month would be charged the current rate as they were high-income earners less affected by COVID- 一 九, according to the MoIT.

The ministry also proposed a  一0 per cent cut for producers and firms, which would cost an estimated VNĐ 六 trillion.

Hotels and restaurants could enjoy the similar reductions at a cost of VNĐ 一. 八 trillion.

In addition, MoIT said free power should be provided for medical facilities and quarantine areas for COVID- 一 九.

With the proposed plans, the Vietnam Electricity (EVN)’s revenue this year would be reduced by VNĐ 一 一 trillion.

All the cuts and exemptions would start from April.

The MoIT would require EVN to recalculate electricity costs in  二0 二0, especially those in the last  一0 months with updated input such as coal prices, oil and gas, foreign exchange rates, and power capacity at hydropower and thermopower plants and renewable energy plants. —VNS