Vietnam Electricity posts record profit but price cuts unlikely

Vietnam Electricity (EVN) announced a combined profit of almost VND 52 000 trillion for 2025, marking a turnaround from a loss of VND 41 800 trillion at the end of 2023. The surge reflects higher revenues, a more favourable generation mix and previous tariff adjustments.

Energy experts say a reduction in electricity tariffs is doubtful in the near term. Over half of the power generated recently has come from coal‑fired plants, while cheap hydro power now supplies only 18‑26% of output. With low reservoir levels, the grid must rely more on expensive coal, gas and oil‑based generation. Ongoing geopolitical tensions in the Middle East are also pushing up global coal and gas prices, further raising input costs.

Price changes are governed by Government Decree 72. A tariff cut can be triggered only if the average retail price falls by at least 1%, while a rise is considered when the price needs to increase by 3% or more. The next scheduled review is on 10 May 2026, and any adjustment must respect a minimum three‑month interval between changes.