Vietnam trade ministry says power tariffs will be hiked, citing state utility losses

The Ministry of Industry and Trade told a press briefing on Friday that it had floated a plan to increase electricity tariffs and would submit it to the prime minister to help state utility Vietnam Electricity Group (EVN) cut its huge losses. However, power prices make a significant impact on the macro-economy and daily life, so it is necessary to weigh on the hike carefully. However, over the past four years, retail power prices have yet to be elevated, plunging EVN into losses, he added. However, power prices make a significant impact on the macro-economy and daily life, so it is necessary to weigh on the hike carefully. However, over the past four years, retail power prices have yet to be elevated, plunging EVN into losses, he added.