The Electricity of Vietnam (EVN) has proposed to increase electricity prices to combat significant losses due to high fuel prices and volatile foreign exchange rates. The Ministry of Industry and Trade (MOIT) has allowed a maximum price increase of 3%, which will affect the production activities and profits of manufacturing companies in Vietnam.
Industry experts suggest that in the current situation, where electricity costs are rising and causing significant losses for companies, renewable energy solutions are critical to combat these costs while reducing carbon emissions. The industry should be prepared to work alongside manufacturing companies to solve issues related to rising electricity costs and to meet green energy requirements from clients and partners.
A senior executive from a leading energy solutions company emphasises the importance of renewable energy solutions to combat rising electricity costs and reduce carbon emissions. Investing in renewable energy sources such as solar energy can provide a reliable and cost-effective source of energy, ultimately helping companies reduce their energy costs and increase their energy efficiency. Additionally, adopting renewable energy solutions can help businesses meet the increasing demand for sustainable energy and achieve their environmental targets.
The importance of renewable energy in Vietnam is further underscored by MOIT’s Decision, which outlines the official power price framework for transitional renewable energy projects. This decision emphasizes the need to transition to renewable energy sources and encourages EVN and transitional RE investors to reach selling power prices that do not exceed the price ceiling.
