A. ELECTRICITY REMOVED FROM LIST OF GOODS SUBJECT TO
PRICE STABILIZATION
Under the Law on Prices, electricity is on a list of goods
subject to price stabilization. Under the Law on Prices, the
Government is authorized to apply measures which limit the increase
of electricity price whenever there are irregular changes in the
electricity price or there is a large swing in the general pricing
level.
On June 19, 2023 the National Assembly passed the amended Law On
Prices whereby electricity is removed from the list of goods
subject to price stabilization. This change is consistent with the
general policy set out in the new National Master Plan for Power
Development (PDP8). Under PDP8, the electricity price must (i)
ensure full cost recovery, reasonable profit, (ii) attract
investment in electricity development, (iii) encourage competition
in the stages of generation, transmission, distribution, retail,
electricity use, and waste prevention.
