Cambodia subsidizes over 100 mln USD to
stabilize electricity tariffs in 2022: PM

Cambodian Prime Minister Samdech Techo Hun Sen said here on Wednesday that the government is subsidizing more than 100 million U.S. dollars to the state-owned Electricité du Cambodge (EDC) in 2022 to stabilize electricity tariffs.

Hun Sen said the Russia-Ukraine conflict and the sanctions and embargoes imposed by certain Western countries on Russia have driven a sharp rise in global energy price, affecting all countries around the world.

"If there was no subsidy from the government, at this hour, our electricity tariffs would have already doubled," he said during a meeting with athletes with disabilities.

"Some countries have already raised electricity tariffs, but for Cambodia, we have not yet increased the electricity prices," he added.

Hun Sen called on people to save electricity and encouraged them to use electric vehicles to reduce fuel consumption and to reduce emissions.

Regular gasoline costs 5,800 riel (1.42 U.S. dollars) per liter on Wednesday, while diesel costs 6,200 riel (1.52 U.S. dollars), according to the Ministry of Commerce's oil price list.

The figures showed that the prices of regular gasoline and diesel rose 22 percent and 39 percent, respectively compared to the prices dated in mid-February, the ministry said.

Meanwhile, Hun Sen highlighted the importance of hydropower dams and solar power plants in helping supply stable electricity and stabilize electricity tariffs amid the global energy crisis.

China is the key developer of hydropower dams in the Southeast Asian country.

Cambodian Ministry of Mines and Energy spokesman and director-general for Energy, Heng Kunleang, said Chinese invested projects such as hydropower dams, coal fired power plants, and solar power plants accounted for 65.7 percent of the total energy generated in the country.

"Chinese invested energy plants have been playing a vital role in Cambodia's socioeconomic development, contributing to securing the stable and reliable supply of electricity in the kingdom," he told Xinhua.

The participation of Chinese firms in the energy sector has also contributed to ensuring the reasonable prices of electricity in the kingdom, Kunleang said.

The spokesman said the Belt and Road Initiative has encouraged Chinese investors to invest in Cambodia's energy sector, particularly in renewable energy such as hydropower dams and solar power stations.