The Hanoitimes - Senior government officials said that electricity and gasoline are items leaving impacts on the economy and catching public attention. PM orders checking of power price hike following social outcry Vietnamese media has questioned the Ministry of Industry and Trade (MOIT) about labeling “secret” the plans for raising electricity and gasoline prices. Government April meeting with the chairmanship of Chairman Mai Tien Dung. Photo: VGP VnExpress asked the MOIT at the government’s regular meeting last weekend why it tagged the adjustment of power and gasoline prices as “state secret” and basing on what ground. In response, Deputy Minister of MOIT Do Thang Hai said that the ministry keeps the plans unrevealed before the official announcement with an aim to avoid any unexpected impacts on the society due to the crucial role of electricity and petroleum in the economy. Hai attributed the Law on Protecting State … [Read more...] about Why does Vietnam label plans on energy price hike “secret”?
Rising energy prices
Illustrative image. Headline inflation rates in January and February posted at 2.56 per cent and 2.64 per cent on year, respectively. In March, the ratio decreased by 0.06 per cent per annum to 2.7 per cent. The Vietnam Institute for Economic and Policy Research (VEPR) said in a statement on April 11 that the core inflation rate during the first quarter rose by 1.83 per cent, showing stable adjustments to the monetary policy. The national consumer price index (CPI) in the three-month period increased by 2.63 per cent, the lowest price hike seen over the past three years. In February, the CPI rose by 0.8 per cent due to soaring demands for goods during the Tet (Lunar New Year) holidays. In particular, restaurant and catering services edged up by 1.73 per cent against January while food increased slightly by 2.13 per cent. GM_EN_PC_ARTICLE_Native_ads However, the price of many essential goods in March rose against the previous month. Transport fees went up by 2.22 per … [Read more...] about Rising energy prices push up Q1 inflation: research institute
The Hanoitimes - Over the past years, the number of solar power projects has been on the rise thanks to the government’s favorable policies and increasing demand. Vietnamese Deputy Minister Industry of Trade Hoang Quoc Vuong has said that the ministry is contemplating to auction prices of renewable energy, mostly solar power in order to follow market movements. A solar power project. Photo: Internet The MOIT will apply solar energy prices at reasonable rates instead of the estimated 9.35 US cent/kWh which the government announced in 2017 to buy from developers, Vuong told the press at a working trip to Tuy Phong Wind Power Plant in the central province of Binh Thuan on December 18. Solar power projects mushrooming Vietnam plans to have 850 MW of solar energy by 2020, making up 1.6% of the country’s total power capacity, and 12,000 MW by 2030 (accounting for 3.3% of total power capacity) Linh Pham … [Read more...] about Vietnam considers auctioning solar energy prices: Deputy Minister
The benchmark VN Index advanced nearly 1 per cent to close at 966.27 points. It fell 0.36 per cent on Tuesday.— VNA/VNS Photo Vietnamese shares rose firmly on Wednesday, driven by higher oil prices that boosted energy stocks and by positive news from energy firms. The benchmark VN Index advanced nearly 1 per cent to close at 966.27 points. It fell 0.36 per cent on Tuesday. The HNX Index on the Ha Noi Stock Exchange gained 1.85 per cent to end at 107.67 points, totalling a two-day increase of 1.96 per cent. More than 200.6 million shares were traded on the two bourses, worth VND4.27 trillion (US$190 million). Wednesday’s trading volume was up 1.3 per cent but trading value fell one-fifth compared to the previous session. The Vietnamese stock market was boosted by the energy sector, which benefited from the increase of crude prices. Brent crude inched up 0.15 per cent to trade at $74.76 a barrel. It has gone up by a total of 3.3 per cent in the last week after the US … [Read more...] about Rising oil prices boost markets
Illustrative image (Source: VNA) Bangkok (NNT/VNA) – Thailand is organising the ASEAN Sustainable Energy Week 2018 to adopt alternative energy sources in response to rising energy prices, with the target of increasing the proportion of renewable energy to 30 percent. In his opening speech, Thai Minister of Energy Siri Jirapongphan said rising energy prices due to increasing demand and falling supply have prompted policies on adopting alternative energy sources and progressive planning for energy stability. The event will help the country meet its energy transformation demands in all regards while the Ministry of Energy is currently developing a new renewable and alternative energy plan for 2015-2022 to keep up with the latest developments worldwide, he added. Themed "E-Mobility Smart Grid Smart City," the event displays state-of-the-art technology and latest energy innovations by pavilions from China, Germany, Japan, the Republic of Korea, Singapore, Taiwan … [Read more...] about ASEAN Sustainable Energy Week 2018 held in Thailand