Vietnam Ministry Should not OK Coal Price Hike to Power Industry
Electricity Regulatory Authority of Vietnam (ERAV) has just proposed the Ministry of Industry and Trade should not approve a proposal to raise coal prices for the electricity industry from Jan 1, 2010 by the state-owned Vietnam National Coal-Mineral Industries Group (Vinacomin).
The agency said that Vinacomin will make huge profit from selling coal to the electricity industry if the prices are only 10% lower than the coal exported prices.
Vinacomin has recently proposed to double coal prices for the electricity industry from Jan 1, 2010. As a result, prices of dust coal belonging to group 4b will be hiked to VND1.11 million/ton, group 5 to VND960,000/ton, group 6a to VND830,000/ton and group 6b to VND690,000 tons.
If Vinacomin’s coal price hike is approved, it will drive power prices by 17.11% to an average of VND1,110 per kWh in 2010 from the current VND948.5 per kWh. (vietnamnet)
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