New Electricity Pricing Structure for Electric Vehicle Charging Stations in Vietnam
The Prime Minister has issued Decision 14, dated May 29, which introduces a new electricity pricing structure. This structure includes a specific rate for electric vehicle charging stations, with prices varying based on time of use and voltage level.
Electricity pricing for electric vehicle charging stations (rates are relative to the current average retail electricity price of 2,204.0655 VND/kWh, excluding VAT)
The new rates are lower than those for commercial use but higher than those for manufacturing. For voltage levels above 1 kV, the off-peak rate is set at 71% of the current average (approximately 1,565 VND/kWh), the normal rate at 118% (2,601 VND/kWh), and the peak rate at 174% (3,835 VND/kWh). Meanwhile, for voltage levels below 1 kV, the off-peak rate is 75% (1,653 VND/kWh), the normal rate is 125% (2,755 VND/kWh), and the peak rate is 195% (4,298 VND/kWh).
Electric vehicle charging stations will benefit from lower electricity rates compared to commercial users.
Previously, the Ministry of Industry and Trade had suggested that using manufacturing rates for charging stations would result in customers paying less than the actual cost to the system, by 552-699 VND/kWh depending on voltage level. On the other hand, using commercial rates would mean customers paying more, by 467-587 VND/kWh. The new rates aim to address this cross-subsidization issue and align with the Resolution 55 of the Politburo on the orientation of Vietnam’s energy development strategy by 2030, with a vision towards 2045.
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