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Electricity price hikes puts spikes in T&G industry profits
06
Apr '09
Under a new circular issued by the Ministry of Industry and Trade, peak hour rates will be considered between 9.30-11.30 AM and 5-8 PM, instead of 6-10 PM, for the purpose of calculation of energy consumption charges.

The peak hour charges will be calculated at VND1,900 against VND955 charged during normal working hours. The Ministry also said that any tampering with the current charges would impact the proposal to bring electricity rates in tune with market realities.

The Ministry contends that this change in timings is to ensure electricity consumption is not restricted to peak hour timings, but industry challenges the reasoning by saying that that the new peak hour timings are those periods when consumption is at the highest point.

Due, to this aver that, they end up paying more than the routine bills they used to receive before this plan was put in to effect, which in these critical times, it is further affecting the profitability of companies, which were already operating at low margins.

But at the same time, the ministry has also supported the demand from sectors affected by the global economic crisis to be eliminated from the new regulation and has said that it will sympathetically look in to these valid demands.

Fibre2fashion News Desk - India

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