Vietnam is planning to raise the average electricity price by 8.8 percent to 852 VND (0.05.3 UsD) per kilowatt hour from January next year to raise funds for new power plants.
The rise, subject to government approval, would generate an extra 1.5 trillion dong ($93mio USD) next year for the power sector a Finance Ministry plan is saying.
Power demand, triggered by robust economic expansion, is forecast to grow up to 17 percent per year, driving the government to plan 60 additional plants by 2020.
The fast-growing sector has drawn increasing interest from foreign firms and foreign investment has picked up significantly in the past year since the government announced plans to liberalise the sector gradually and raise retail prices.
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