Major General To An Xo: Materials stockpiling leads to a 300% increase in electricity prices

The spokesperson of the Ministry of Public Security revealed that there have been cases where investors and contractors collude to inflate the prices of materials and electrical equipment, resulting in high electricity prices and harm to consumers.

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Major General To An Xo, spokesperson of the Ministry of Public Security at the regular government press conference in January 2024. Photo: VGP

During the regular government press conference in January 2024, Major General To An Xo, spokesperson of the Ministry of Public Security, revealed that in the case of Tuan An Corporation and Binh Thuan Power Company, the investor and contractor colluded to inflate the prices of materials and electrical equipment. Many materials and electrical equipment saw price increases of several dozen to several hundred percent, with some items experiencing a 300% increase.

According to Major General To An Xo, this situation is one of the factors contributing to the rise in electricity prices, causing significant harm to consumers. The increased cost of electricity has negatively impacted consumers.

“We believe that this type of ‘variant-spreading virus’ is relatively common in certain localities. In the future, the Ministry of Public Security will have a vaccine to treat this virus,” said Major General To An Xo.


Prior to this, on December 27, 2023, Major General To An Xo, spokesperson of the Ministry of Public Security, stated that the Ministry’s investigative agency is in the process of investigating the signs of misconduct by Tuan An Corporation, Binh Thuan Power Company (EVN Binh Thuan), and related units in the procurement of materials, equipment, and accessories for the electricity sector.

It is worth noting that the Ministry’s investigative agency is currently conducting a thorough investigation, expanding the case, and applying the necessary legal measures to recover assets.