Decision No. 02/2023/QD-TTg dated February 3, 2023 on bracket of electricity average retail prices

DECISION

ON BRACKET OF ELECTRICITY AVERAGE RETAIL PRICES

Pursuant to the Law on Government Organization dated June 19, 2015; the Law on amendments to the Law on Government Organization and the Law on Organization of Local Government dated November 22, 2019;

Pursuant to the Law on Electricity dated December 3, 2004 and the Law on amendments to the Law on Electricity dated November 20, 2012;

At the proposal of the Minister of Industry and Trade;

The Prime Minister promulgates the Decision on the bracket of electricity the average retail prices.

Article 1. Scope and regulated entities

1. This Decision sets forth the maximum and minimum prices of the average retail electricity prices.

2. This Decision applies to organizations and individuals participating in electricity activities and using electricity.

Article 2. Bracket of electricity average retail prices

The bracket of the average retail electricity prices (excluding value added tax) is as follows:

1. The minimum average retail price of electricity is 1,826.22 VND/kWh;

2. The maximum average retail price of electricity is 2,444.09 VND/kWh.

Article 3. Implementation

1. If there is a big change in the parameters for calculating the price bracket, the cost of electricity production and business and the requirement to allocate costs that have not been included in the average retail price of electricity, the Ministry of Industry and Trade shall take charge and coordinate with the Ministry of Finance in calculating and adjusting the bracket of the average retail electricity prices, and submit it to the Prime Minister for consideration and decision.

2. The Vietnam Electricity shall monitor and report the Ministry of Industry and Trade and the Ministry of Finance when there is a big change in the parameters for calculating the bracket of the average retail electricity prices, electricity production and business costs and requirements to allocate costs that have not been included in the electricity average retail prices.

Article 4. Entry into force

1. This Decision comes into force as of February 3, 2023 and the Decision No. 34/2017/QD-TTg dated July 25, 2017 of the Prime Minister on the bracket of the electricity average retail prices for the 2016-2020 period shall cease to be effective from the effective date of this Decision.

2. The Ministers, the heads of the ministerial-level agencies, the heads of the Governmental agencies, the Presidents of the People's Committees of the provinces and centrally-affiliated cities and the relevant organizations and individuals shall implement this Decision.