Proposals have been made to abolish peak electricity time regulations and drop prices, photo Le Toan According to the Ministry of Industry and Trade’s (MoIT) proposal last week to the prime minister, companies and millions of vulnerable households are set to get relief on their energy bills. The total relief package, which is expected to take effect immediately, is estimated at VND11 trillion ($478.2 million) and should last for three months. The plan includes a 10 per cent cut for producers and businesses, costing around VND6.1 trillion ($265.2 million), as well as favourable terms to the value of VND2.9 trillion ($126 million) for households with energy consumption of less than 300 kilowatt hours a month. Households which use more than this would be charged the current rate, as they are classified as high-income earners less affected by COVID-19. Meanwhile, hotels and restaurants would enjoy similar reductions at a cost of VND1.8 trillion ($78.3 million), and hospitals treating virus patients and quarantine camps would be provided with free electricity. Economist Nguyen Minh Phong said that welcome must be given to the government’s efforts to support consumers, particularly those in vulnerable circumstances or who need extra support. It will put an end… Read full this story
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