EVN announces to cut average retail electricity price by 2 percent

Vietnam Electricity (EVN) has announced a 2 percent decrease in the average retail electricity price, effective November 1, as part of its commitment to economic stability, social welfare, and business growth. The reduction, which brings the average price down to VND2,159 (US$0.083) per kWh, excluding tax, is set to take effect from November 1, as per EVN Decision No. 1305/QD-EVN dated October 30, 2026.

This adjustment is a direct response to directives from top Party and State leaders, the Government, the Prime Minister, the Ministry of Industry and Trade, and the Ministry of Finance, all of which emphasize strict adherence to current regulations. EVN's decision also stems from a thorough review of operating costs, leading to a recalculated and reduced price.

The price cut is intended to bolster the macroeconomy, aid social welfare initiatives, and support businesses in their operations. This move follows a similar decision issued by the Ministry of Industry and Trade on October 31, setting new electricity tariffs for different customer groups and retailers, with the new rates also coming into effect on November 1.