EPTC signed a contract for buying 184.52 billion kWh in 2023

In the conference for summarizing the plan in 2022 and deploying the tasks in 2023 of the Electricity Power Trading Company (EPTC), this company informed that during 15 years in construction and development, as a focal unit for buying electricity from the generation corporations and wholesaling it to the electricity corporations EPTC always fulfilled the assigned targets with the increasing generation day by day and contributed the general plan of EVN.

The number of contracts of EPTC increased 17 folds from 28 in 2008 to 455 in 2022 with a capacity of 64.755 MW, especially from 2021 with participating renewable energy projects, the number of the contracts increased from 129 to 448 contributing to the power generation ability of the national power system.

The EPTC also checked with ensuring the accuracy and liquidated 362 monthly power purchase agreements in accordance with the regulations of the State and EVN.

The EPTC successfully completed the acceptance for emerging and putting into commercial operation solar power projects before the deadlines of June 30, 2019, and December 31, 2020 and the wind power projects before the deadline of October 31, 2021.

From January 1, 2019 EPTC successfully coordinated with the EVN dependently accounting power plants (Thai Binh 1, Vinh Tan 4, Vinh Tan 4 extension and Duyen Hai 3 extension) in offering price strategies, making quotations and checking payment records with power corporations.

In 2021 and 2022, in the situation of a sudden increase in imported coal prices and unusual changes in load demand due to the impact of the Covid-19 pandemic, the EPTC successfully cooperated with power plants to develop a flexible offering pricing strategy, making a reasonable quotation to ensure the effective participation in the electricity market of the power plants.

Regarding plans and targets for the coming year - 2023, the EPTC informed that it will buy 184.54 billion kWh from the power corporations and sell 252.76 billion kWh to power corporations with ensuring to confirm the electricity market payment list and 100% in accordance with regulations.

Besides, EPTC will actively participate in and contribute to developing and perfecting the competitive wholesale and retail electricity market according to the roadmap of the electricity market in Vietnam.

Mr. Ngo Son Hai – EVN Deputy General Director highly appreciated and praised EPTC for its efforts to overcome many difficulties and challenges, and achieved many successes in the recent 15 years, making an important contribution to the EVN's achievements.

According to Mr. Ngo Son Hai, in 2023 and the coming years, the world situation still has many fluctuations that may affect the domestic energy market, besides, the structure of our country's electricity supply in the coming period will have many changes, and unpredictable fluctuations, the financial situation of EVN will be still difficult... Therefore, EPTC needs to promote its function and role as EVN's representative unit in negotiating and implementing power purchase agreements. This requires the EPTC to have specific solutions and proposals to avoid lengthy negotiations.

On the other hand, it is necessary to closely monitor the contracts to ensure full implementation of rights and obligations for EVN, especially specific contracts such as BOT and import. Payment must be accurate and on time; closely monitor electricity market developments, and regularly update actual electricity purchase costs and cost estimates for the next period to advise EVN.

The EPTC also needs to closely coordinate with the thermal power plants as: Vinh Tan 4, Vinh Tan 4 Expansion, Thai Binh 1, and Duyen Hai 3 Expansion, especially power plants using imported coal with synchronous action from making production plan, fuel, O&M preparation, offering prices and operation.