CaliToday (08/9/2025): Vietnam's state-owned electricity monopoly, Vietnam Electricity (EVN), is facing mounting pressure from two fronts: an increasingly vocal public exposing what they claim are erroneous and opaque billing practices, and a high-level government inquiry into the corporation's staggering reported loss of over VND 44 trillion (approximately USD 1.73 billion).
The convergence of these issues has ignited a national debate over the transparency, efficiency, and financial management of the country's most critical utility provider, particularly as EVN has proposed incorporating these massive losses into future electricity prices for consumers.
Public Trust Erodes Over Billing Discrepancies
Across the country, a growing number of citizens have taken to social media and news outlets to report significant and often inexplicable spikes in their monthly electricity bills. Consumers are "phanh phui," or exposing, alleged wrongdoing by sharing evidence of erratic meter readings and billing calculations that do not align with their actual energy consumption.
These grassroots complaints point to a deep-seated distrust in EVN's metering and billing systems. Many residents claim the figures are "mập mờ" – ambiguous and non-transparent – making it nearly impossible for households to verify the charges. The public outcry has moved beyond individual grievances to become a collective demand for clarity and fairness from the state-run giant.
"One month our bill doubles with no change in our habits. When we ask for an explanation, the process is complicated and the answers are unsatisfactory," one frustrated homeowner in Hanoi shared online, a sentiment echoed by thousands across the country. This widespread suspicion has created a difficult environment for EVN, undermining its credibility at the consumer level.
Government Demands Answers for Massive Financial Losses
Compounding the public relations crisis is a severe financial one. EVN has officially reported losses exceeding VND 44 trillion, a figure that has set off alarms within the government. In response, multiple ministries and government agencies have formally requested that EVN provide a detailed and transparent explanation for the deficit.
Officials are demanding a full breakdown of the factors contributing to the loss, seeking to determine how much can be attributed to fluctuating global fuel prices, operational inefficiencies, mismanagement, or other internal factors. The inquiry reflects the government's concern over the financial health of a critical state asset and the potential economic ramifications of its instability.
The core of the government's demand is accountability. Before any discussion can be had about solutions, ministries insist that the root causes of the financial shortfall be thoroughly audited and made public.
Controversial Proposal to Raise Prices Fuels Public Anger
The most contentious element of the crisis is EVN's proposed solution: a plan to recuperate the losses by factoring them into the retail price of electricity. This suggestion has been met with widespread public opposition and skepticism.
For many Vietnamese citizens, the proposal is seen as a demand for consumers to pay for the company's own financial mismanagement, especially galling at a time when they already distrust its billing practices. The sentiment is that EVN is asking honest, bill-paying citizens to cover costs for which they are not responsible.
Economists and business leaders have also warned that a significant hike in electricity prices could have a cascading effect on the economy, increasing production costs for businesses, fueling inflation, and placing a heavier financial burden on households already navigating a complex economic climate.
The situation has placed EVN at a critical juncture. The corporation must now navigate the difficult task of justifying its financial state to the government while simultaneously attempting to rebuild broken trust with the public. The outcome of the ongoing government review will be pivotal, likely shaping the future of electricity pricing in Vietnam and potentially triggering significant reforms within the state-owned utility.
