Workers check equipment at the 220 kV Xuan Mai substation. (Photo: VNA/VNS)

Vietnam has officially established the new framework for average retail electricity prices, as announced by Deputy Prime Minister Bui Thanh Son.

The decision, signed on March 31, sets the maximum retail electricity price at 2,444.09 VND per kWh (0,095 USD), while the minimum price is set at 1,826.22 VND per kWh.

The pricing structure is set to be excluding value-added tax (VAT), providing clarity for both consumers and suppliers regarding the cost of electricity.

The decision, outlined in Decision No. 07/2025/QĐ-TTg, aligns with regulations stipulated in the Electricity Law No. 61/2024/QH15, particularly focusing on the pricing mechanisms for electricity retail.

The framework will apply to all agencies, organisations and individuals involved in electricity activities and customers using electrical services.

The newly established prices reflect ongoing adjustments to align with market dynamics and production costs, ensuring that the electricity pricing mechanism is both fair and sustainable.

Should substantial changes occur in these variables, the Ministry of Industry and Trade is tasked with recalculating the average retail electricity prices and submitting recommendations to the Prime Minister for approval.