Vietnam Electricity Group (EVN) has endorsed a proposal for a new electricity tariff adjustment mechanism.

There are still issues to be resolved with the recently approved National Power Development Plan 8 (PDP8), namely how to attract and encourage private investors, including green financing from foreign financial institutions.

The long-anticipated Power Development Plan 8 (PDP8) for 2021-2030, with a vision to 2050, which was released in May, sets out a roadmap for Viet Nam’s long-term renewable energy goals.

Electricity of Vietnam (EVN) has reported that electricity from coal-fired power plants has accounted for 50 percent of the total output of the entire system.

Deputy Prime Minister Tran Hong Ha has freshly signed a decision to approve the national energy master plan for the 2021-2030 period, with a vision to 2050.

In a significant stride towards renewable energy adoption, 15 transitional renewable energy projects have contributed approximately 154 million kilowatt-hours (kWh) of electricity.

For scheduled projects and the electricity generation workload, the total investment capital for 2021-2030 is estimated to be $113.3-134.7 billion.

Vietnam needs US$133 billion to US$135 billion for electricity generation and transmission projects until 2030, according to the Ministry of Industry and Trade.

Vietnam will spend an estimated VND270 trillion (US$11.4 billion) by 2030 to enhance its petroleum and gas reserves and strengthen its supply infrastructure.

Northerners sighed with relief after hearing that the water level in hydropower reservoirs had increased and the electricity shortage had been solved. But they were warned that the problem won’t be truly settled for at least two more years.

President Vo Van Thuong has confirmed that a comprehensive inspection of the electricity sector will be conducted with utmost seriousness.