By Ta Bao Long
Jan. 7 (Bloomberg) -- Vietnam may increase electricity prices by as much as 9.5 percent this year, Tuoi Tre newspaper reported, citing Deputy Trade Minister Bui Xuan Khu.
The ministry has submitted the proposal to the government for approval, the report said.
The price increase is inevitable as the country may face electricity shortages in the future, Khu was quoted as saying. The average electricity price is 860 dong (5 cents) per kilowatt-hour, according to the newspaper.
To contact the reporter on this story: Ta Bao Long in Hanoi at longta@bloomberg.net
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