Electricity supply, made up of both domestic production and imports, is set to increase by 5.96% from last year to 284.5 billion kilowatt-hours in 2023.
The Ministry of Industry and Trade ordered the country’s main coal producers, Vinacomin and Dong Bac Corp, to ensure adequate supply for power production this year.
Last year Vinacomin supplied 97% of the volume it had promised and Dong Bac, 82%.
Monopoly state utility Vietnam Electricity reported a loss of over VND31 trillion last year, and attributed it to surging expenses.
The government allows EVN to raise electricity prices by up to 5% annually but has to seek Ministry of Industry and Trade approval if it wants to increase them 5-10%. Cabinet approval is needed for anything higher.
The country’s installed capacity is nearly 77,800 megawatts now, up 1.83% from 2021, with renewables accounting for 26.4%.