Decision 2892/QD-BCT Cuts Vietnam’s Retail Power Price 2%

Unofficial English summary for reference only. Not a legal translation and not legal advice. The Vietnamese text linked at the end of this page is authoritative.

What the document does

Decision 2892/QD-BCT sets the retail electricity prices that apply from November 1, 2026: the tariffs by customer group for every category using electricity, and the tariffs for electricity resellers. The headline figure is the new average retail price of 2,159.9037 VND/kWh, excluding VAT, down 2% from the current average. The decision was issued by the MOIT Minister on October 31 and announced the same evening on the Government portal alongside EVN’s own price-adjustment decision.

The decision implements a directive issued four days earlier. On October 27, the Government Office issued Notice 557/TB-VPCP recording Deputy Prime Minister Nguyen Van Thang’s conclusion at a meeting on petrol and electricity price scenarios: cut the average retail electricity price by about 2% for the period from November 1, 2026 to March 31, 2027. Decision 2892 is the tariff book that makes that direction billable.

The legal basis, as stated in the Government portal announcement, runs through the price-adjustment mechanism built over the past two years: Decree 72/2025/ND-CP of March 28, 2025 on the mechanism and timing for adjusting the average retail electricity price, as amended by Decree 278/2026/ND-CP of July 9, 2026; Prime Minister Decision 14/2025/QD-TTg of May 29, 2025 on the retail tariff structure; and MOIT Circular 60/2025/TT-BCT of December 2, 2025 on price implementation. The decision applies the existing tariff structure with lowered prices.

What changes in practice

From November 1, every electricity bill in Vietnam will be computed from the new tariff book. Households, production customers, administrative and service customers, and irrigation users will all move to the lowered schedules; electricity resellers, which resell power inside industrial parks, apartment buildings and similar compounds, will bill their end users under the new reseller tariffs. The 2% figure is the average across the whole system; individual customer groups will see their own schedules adjust, not a flat 2% line on every tariff.

The cut is framed as shared macroeconomic policy, not a market outcome. The Government portal’s announcement says EVN moved urgently to review, recalculate and cut costs to the maximum to implement the adjustment, in the spirit of contributing to macroeconomic stability while supporting social welfare for households and businesses. The economic room for the cut exists: EVN’s 2025 production cost was about 5% below the old average price, according to the coverage of the Deputy Prime Minister’s remarks.

The stated macro objective is inflation control. Speaking at the National Assembly on the morning of October 31, Deputy Prime Minister Nguyen Van Thang said the Government is directing EVN to cut costs toward the 2% reduction through March 31, 2027, and that the electricity cut, combined with bringing the special consumption tax on petrol to 0%, is expected to create about 0.07 percentage points of room to hold inflation to the 4.5% target the Assembly set.

What changed from the previous rules

Before this decision, the average retail electricity price stood at 2,204.0655 VND/kWh, set by EVN’s Decision 599/QD-EVN of May 7, 2025, with the per-group tariff book then in force. Residential customers were billed on the six-tier schedule under the structure then in force, from 1,984 VND/kWh for the first 50 kWh block up to 3,460 VND/kWh above 400 kWh.

From November 1, 2026, the average will be 2,159.9037 VND/kWh excluding VAT, and every customer group will bill against Decision 2892’s new schedules. What did not change is the tariff structure itself: the decision applies the structure established by Prime Minister Decision 14/2025/QD-TTg, with prices lowered. The widely discussed five-tier residential schedule remains a draft amendment to Decision 14/2025 and is not part of this decision; readers should not read the new tariff book as the five-tier reform.

One boundary to note: the full text of Decision 2892 was issued hours before this explainer was written and had not yet been indexed in the legal databases at publication time. The figures and dates above are confirmed on the Government portal; the per-group tariff tables should be checked against the full text once published.

Who is affected

The decision applies to every electricity customer in Vietnam: households, production and business customers, public-service users, and irrigation customers, billed through EVN’s power companies; plus the electricity resellers that supply end users inside compounds they manage. In practice, the parties watching most closely are energy-intensive manufacturers, retail and hospitality operators, EV charging operators whose per-kWh economics move with the tariff, and the retail agents who must re-bill their tenants against the new schedules.

Notes for investors and operators

The cut is modest per kilowatt-hour but system-wide, and it runs through the existing customer-group structure, so the first task is mechanical: confirm your customer group and tariff schedule in the new book against your meter setup. Industrial customers should recheck the production-tariff bands and the time-of-use frames, since peak and off-peak differentials move with the schedules.

EV charging operators should confirm the charging tariff line under the Decision 14/2025 framework; the cut lowers the operating cost per kWh sold, which matters for utilization-based business models. Electricity resellers need to update their tenant billing from the November cycle to avoid billing disputes.

What businesses should do next

Pull the new tariff book and re-price your November power budgets now; the decision takes effect tomorrow. Budget the stated window: the Deputy Prime Minister framed the cut as running through March 31, 2027, so treat the lowered average as the planning price for the next five months, not a permanent level. Watch two adjacent tracks: the five-tier residential structure draft, which would change the shape of household tariffs if issued, and the petrol special-consumption-tax decision, which the Finance Ministry was due to report to the Government before November 1.

Sources and the official text

baochinhphu.vn (Government portal), October 31, 2026: Decision 2892/QD-BCT dated October 31, 2026 on electricity prices, setting retail tariffs for customer groups and retail-electricity agents from November 1, 2026; new average retail price 2,159.9037 VND/kWh excluding VAT, down 2%; legal basis (Decrees 72/2025/ND-CP and 278/2026/ND-CP, Decision 14/2025/QD-TTg, Circular 60/2025/TT-BCT, Notice 557/TB-VPCP). https://baochinhphu.vn/gia-dien-giam-2-con-21599-dong-kwh-102261031200940825.htm

vietnam.vn (state external information portal), October 31, 2026: Deputy Prime Minister on the ~2% retail electricity price cut through March 31, 2027. https://www.vietnam.vn/pho-thu-tuong-se-giam-khoang-2-gia-ban-le-dien-den-het-ngay-31-3-2027

Thanh Nien, October 31, 2026: Deputy PM Nguyen Van Thang on the ~2% cut to March 31, 2027, the ~0.07 percentage point inflation-control room, and the 4.5% CPI target. https://thanhnien.vn/pho-thu-tuong-nguyen-van-thang-se-giam-khoang-2-gia-ban-le-dien-185261031135140744.htm

About this explainer: VoltViet prepared this summary in English from the official Vietnamese announcement so that investors and operators can follow what the document does. It is a reading aid, not a translation of record and not legal advice. Where any wording here differs from the Vietnamese text, the Vietnamese text governs. For decisions with legal or financial consequences, rely on the official text linked above and take advice from a qualified Vietnamese lawyer.

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