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News Vietnam National Cement Association lobbies against power price rise

Vietnam National Cement Association lobbies against power price rise

Written by Global Cement staff 15 December 2022
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Vietnam: The Vietnam National Cement Association (VNCA) has spoken about the difficulties that would arise from a proposed power price rise by state-owned Electricity Vietnam (EVN). VNCA chair Nguyen Quang Cung said that cement producers foresee 'business havoc' ensuing from any further cost increase to their operations. The industry says that reduced demand has prevented them from raising cement prices amid already high costs. Coal price growth is a significant contributor, and now accounts for 60% of the industry's operating expenses.

Cung said "Many companies are suffering losses and have suspended the operations of many production lines." He continued "We understand that EVN is claiming force majeure because they face the same challenge relating to the input cost burden."

Last modified on 21 December 2022
Published in Global Cement News
Tagged under
  • Vietnam National Cement Association
  • VNCA
  • lobbying
  • Government
  • Energy
  • Electricity
  • fossil fuels
  • Coal
  • Price
  • costs
  • Price
  • demand
  • market
  • Electricity Vietnam
  • GCW588

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