EVN Executive: Over 700 organizations are pricing electricity themselves, we cannot control

At a seminar on sustainable development in the electricity sector, EVN’s Deputy General Director Nguyen Xuan Nam stated that over 700 wholesale organizations set their own electricity prices, which EVN cannot control. In August 2025, electricity consumption surged to record levels due to unusual heat, leading to increased bills for many households. EVN conducted a review but found no errors in consumption readings, emphasizing that all measurements are done via electronic meters to reduce fraud risks.

Nam also addressed a 45 trillion VND loss that has not been offset due to skyrocketing input material prices amid the global crisis between Russia and Ukraine. The selling price of electricity is lower than the production cost, resulting in a deficit. In 2023, the selling price is 1,953 VND/kWh, while the production cost is 2,088 VND/kWh. EVN continues to strive for cost savings, but the remaining deficits and market share issues persist.