Electricity consumption has dropped sharply because of Covid-19. As a result, power plants have had to cut generation capacity.

The government this month requested the Ministry of Industry and Trade to review and re-submit the Power Development Plan VIII as the scheme is geared towards speeding up establishment of a competitive electricity market.

Vietnam, a global phenomenon in renewable energy development, has risen to the top of the region in terms of renewable energy, particularly solar power, in a short period of time. 

The PetroVietnam Power Corporation (PV Power) aims to earn VND28.4 trillion of revenue (US$1.2 billion) and pre-tax profit of nearly VND1.55 trillion this year.

The Electricity of Vietnam’s (EVN) latest report showed that the Covid-19 pandemic has led to a decrease in electricity demand. The real electricity output in 2020 was 247 billion kwh and the additional charge growth rate was 3 percent.

Vietnam needs about $128.3 billion of investment capital to develop its electricity industry in 2021-2030, according to draft electricity planning released by the Ministry of Industry and Trade (MoIT).

Vietnam Electricity (EVN) on December 6 signed various Memoranda of Understanding (MoU) with investors of power projects in Laos to develop and purchase electricity from the neighbouring country in the time ahead.

Solar power capacity is increasing thanks to significant changes in feed-in-tariff.

There is great potential for the energy service companies market to develop in Vietnam as power consumption is forecast to increase sharply in the coming years, heard a workshop heard in HCM City on October 22.

The National Assembly's economic committee held a hearing on the development of Vietnam's energy sector until 2030 yesterday.

The Ministry of Industry and Trade (MoIT) has decided to cancel plans for a single price model to calculate power tariffs after receiving feedback from relevant ministries and experts.  

An energy strategy that focuses on renewables, natural gas, energy efficiency and battery storage will attract private sector investment, the Vietnam Business Forum (VBF) said in a report.

The Ministry of Industry and Trade has told the authorities of cities and provinces and Vietnam Electricity Group (EVN) to stop proposing solar power projects under the feed-in tariff (FIT) program until a new decision is issued.

The purchase prices of solar power will be set through auction, instead of using a common price for the entire country, or different prices for different thermal radiation zones, according to officials.

The power demand is estimated to increase by 9.9% this year, according to the Electricity of Vietnam (EVN).

The peak power output (Pmax) hit 38,147 MW on June 21, the highest figure recorded in Vietnam so far.

 The National Power Transmission Corporation under Electricity of Vietnam (EVN-NPT) mobilised about 1.3 billion USD in Official Development Assistance (ODA) for its transmission projects from 2011 to 2015.

  A law on the competitive power wholesale market of Vietnam will be promulgated in the second quarter of 2017.

 VietNamNet Bridge – It’ll take Vietnam 10 more years to develop a competitive electricity market. This period is too long for some Vietnamese, who are eager to enjoy competitive electricity prices.