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FROM APRIL 25, ELECTRICITY PRICES APPLICABLE TO COMBINED HEAT-POWER PROJECTS RAISE UP TO VND 1,634/KWH

On March 05, 2020, the Prime Minister promulgates the Decision No. 08/2020/QD-TTg on amending and supplementing a number of Articles of the Prime Minister’s Decision No. 24/2014/QD-TTg of March 24, 2014, on support mechanisms for development of biomass power projects in Vietnam.

Accordingly, electricity prices applicable to biomass power projects shall be amended as follow:

For combined heat-power projects: The electricity purchase price bracket at an electricity delivery and receipt point is VND 1,634/kWh, roughly 7.03 US cents/1 kWh, according to the exchange rate between Vietnam dong and US dollar announced by the State Bank of Vietnam on February 21, 2020. (This price in former regulation is VND 1.220/kWh, not yet including VAT, roughly 5.03 US cents/1 kWh).

In addition, for projects other than combined heat-power projects: The electricity purchase price bracket at an electricity delivery and receipt point is VND 1,968/kWh, roughly 8.47 US cents/1 kWh, according to the exchange rate between Vietnam dong and US dollar announced by the State Bank of Vietnam on February 21, 2020.

Besides, this Decision also annul a number of Articles on incentives and supports for biomass power projects not connect to the grid such as: Incentives on investment capital and taxes; Incentives on land use...

This Decision takes effect on April 25, 2020.

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