15:14 | 25/05/2020 Industry
(VEN) - Millions of power consumers in Vietnam will enjoy discounts of 10 percent on their bills as part of an outreach program by Electricity of Vietnam (EVN) to help those affected by the Covid-19 pandemic.
Hanoi Power Corporation donates mobile hand-washing booths in isolated areas
Electricity of Vietnam (EVN) has been supporting customers affected by the pandemic, despite difficulties in power production due to the shortage of water at hydroelectric plants and increased use of high-price oil-fired thermal power.
Since the Covid-19 pandemic broke out in Vietnam, the state’s largest power company has also implemented measures to avoid infection among the tens of thousands of employees in the group, and ensure safe and continuous electricity supply for production and business, particularly stable power supply to medical establishments and isolated areas across the country.
In addition to donations of billions of Vietnamese dong to support individuals and staff at the front lines against the pandemic, EVN and its member units have organized activities such as providing masks and hand sanitizers, and rice for the needy.
Following the Prime Minister's guidance on easing production and business difficulties and effectively coping with the Covid-19 pandemic, the Standing Committee of the Party Committee of EVN made a proposal on reducing electricity prices for businesses and households with a total value of the relief package estimated at VND11 trillion. Accordingly, all household customers will benefit from a discount of 10 percent in their electricity bills for consumption levels below 300 kWh per month (or about 22.8 million households). The discount will also be applied to more than two million businesses and tourism facilities.
In addition, Covid-19 hospitals, medical facilities and concentrated isolation areas will be exempted from paying electricity bills or receive a certain discount in electricity prices for a period of three months.
The reduced power prices reflects EVN’s social responsibility at a time when the group itself has also been affected by the epidemic and encountered difficulties in electricity production. EVN’s 1st quarter report showed that its commercial electricity production output still increased over 6.3 percent. However, the hydrological situation is abnormal, with very low water levels in hydropower reservoirs, which managed to mobilize only 8.93 billion kWh from hydroelectricity, down 30.4 percent year-on-year. To offset the shortage, EVN had to increase power mobilization from coal-fired thermal power plants by 21.3 percent; and from oil-fired thermal power plants by about 1.02 billion kWh, an increase of nearly 1 billion kWh over the same period last year.
Nguyen Tien Thoa, Chair of the Vietnam Valuation Association and former Director of the Price Management Department (under the Ministry of Finance) said the price discounts are a necessary and correct decision demonstrating EVN’s responsibility to the communities and business it serves. “EVN’s decision to reduce electricity prices will contribute to lowering production and business costs as well as household spending. From a macroeconomic perspective, it will help control the consumer price index in adherence with set targets,” said Thoa.
A representative from EVN said the group has directed its subsidiaries and member units to implement
electricity price reduction according to instruction by the Ministry of Industry and Trade.