Vietnam utility EVN eyes electricity rate hike as coal costs rise

Request suggests increase of at least 5%, as company heads toward $1.3bn loss

A worker maintains power lines in Vietnam. Coal is the leading fuel for state-run Vietnam Electricity Group's power plants. © Reuters

TOMOYA ONISHI, Nikkei staff writer

December 6, 2022 04:55 JST

HANOI -- Vietnam Electricity Group, known as EVN, wants to raise customer rates in 2023 as the growing costs of power generation strain the state-run utility.

EVN has filed a proposal for a rate hike with the Ministry of Industry and Trade, local media report, seeking what would be the first major price adjustment since March 2019.