March 20, 2019 / 8:12 AM / 6 months ago

Vietnam hikes retail electricity prices by 8.36 pct - state media

HANOI, March 20 (Reuters) - Vietnam has raised its retail electricity price by 8.36 percent to an average of 1,864.4 dong ($0.0804) per kilowatt hour, state media reported on Wednesday.

An increase in electricity prices may put upward pressure on inflation, but may also help the Southeast Asian country attract more private investment in developing power plants.

The price hike took effect on Wednesday, Voice of Vietnam radio reported, citing a source with the Ministry of Industry and Trade.

Another source with the ministry told Reuters the ministry will officially announce the hike in electricity price later in the day.

$1 = 23,203 dong Reporting by Khanh Vu, Editing by Sherry Jacob-Phillips

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