Cambodia is to will provide more than USD 100 million in subsidies to state-owned Electricité du Cambodge (EDC) in 2022 to help stabilize electricity tariffs.
Cambodian Prime Minister Hun Sen stated that the War between Russia and Ukraine has caused a rapid increase in global energy prices, hurting all nations, Khmer Times reports.
“If there was no subsidy from the government, at this hour, our electricity tariffs would have already doubled,” Hun Sen told reporters.
“Some countries have already raised electricity tariffs, but for Cambodia, we have not yet increased the electricity prices,” he added.
According to figures released by the Cambodian government, regular gasoline and diesel prices have increased by 22% and 39%, respectively, compared to mid-February prices, according to the ministry.
Regular gasoline now costs KHR 5,800 (USD 1.42) per liter on Wednesday in Cambodia, while diesel costs KHR 6,200 riel (USD 1.52), according to the Ministry of Commerce’s oil price list.
The Cambodian Prime Minister called on residents to save electricity and encouraged them to use electric vehicles to reduce fuel consumption and to reduce emissions.
He highlighted the importance of hydropower dams and solar power plants in helping supply stable electricity and stabilize electricity tariffs amid the global energy crisis.
Cambodia is already importing some electricity from Laos, and hopes to purchase up to 6,000 MW by 2030.
Meanwhile, te Government of Laos has set up a special committee to reform its own state-owned power company, Electricite du Laos (EDL), as part of attempts to reign in bloated but underperforming state enterprises.
The committee, formed under a Prime Ministerial Decision, will be tasked with advising on ways to increase EDL’s revenue and pay off its debts.
