>> Government approves power price hike of 15.28%

>> Vietnam considering a hike in electricity rates

Due to a foreseen power shortage, Vietnam will have to import over 4.5 billion kWh of electricity from China this year and the domestic power supply will be cut down from March.

According to the Ministry of Industry and Trade, the total water storage of all hydropower reservoirs will be short of some 13 billion cubic meters, leading to a power shortage of about 3 billion kWh.

A number of new coal-fired thermal power plants in the North have been operating unstably, making the situation worse, the ministry said.

In this year’s dry season alone, the power shortage can amount to 2 billion kWh and the ministry has requested the Electric of Vietnam Group (EVN) to prepare a plan to cut down power supply starting March.

To make up for the shortage, the country needs to import over 2.5 million kWh from China in this dry season and an additional 2 million kWh will be imported during the rest of the year.

The ministry has told EVN to prioritize Hanoi and Ho Chi Minh City in supplying electricity in case of a shortage.

Several days ago, the Prime Minister agreed to raise the average power price by 15.28 percent to VND1,220 per kWh starting March 1.