Vietnam has lowered the average electricity price for homes and businesses. The price is now VND2,159.9037 per kilowatt‑hour, about US$0.083, starting on November 1. This is the first cut after more than three years of rises.

Vietnam Electricity (EVN) announced the change on October 31 under Decision No. 1305/QD‑EVN. EVN said the cut follows a review of production and operating costs and cost‑saving measures to keep the economy stable and help households and businesses.

The Ministry of Industry and Trade also issued Decision No. 2892/QD‑BCT on the same day. This decision sets the new tariffs for different customer groups, also starting on November 1.

Before the cut, the average price had gone up four times since May 2023, reaching VND2,204.0655 per kWh in May 2025. EVN’s own cost in 2025 was VND2,092.70 per kWh, about VND111.37 lower than the old retail price. EVN still has about VND17.506 trillion of extra costs not yet included.