The Prime Minister chairs meeting to discuss solutions to promote progress of important projects of PVN, EVN

The Prime Minister chaired a meeting on ensuring electricity supply in the coming years.

The meeting ware attended by Deputy Prime Ministers: Tran Hong Ha, Le Thanh Long, Ho Duc Phoc; leaders of the relevant ministries and agencies; leaders of economic groups in the energy sector.

On the same day, in the Central region, Permanent Deputy Prime Minister Nguyen Hoa Binh will chair a conference with leaders of a number of the ministries and agencies, leaders of a number of localities on the situation of production, consumption, implementation of renewable energy projects, and removal of difficulties and obstacles for renewable energy projects.

Directing at the meeting, Prime Minister Pham Minh Chinh said that, according to calculations, for every 1% economic growth, electricity demand increases by 1.5%. In 2024, Vietnam strives for economic growth of over 7% and with the growth target of the coming years, electricity demand will also increase by at least 10%.

The Prime Minister emphasized the lesson in 2023, although the Government and the Prime Minister have directed strongly to ensure electricity, the overall power was not lacking, but the implementation was not yet strong, the management was limited, so there ware local power shortages at some times, some places; affecting production and people's human life for investors.

Therefore, to ensure adequate electricity supply, ensure national energy security, especially when the country is in the process of industrialization and modernization, there must be early and remote preparation.

According to EVN: In the first 9 months of 2024, EVN has ensured adequate electricity supply to serve socio-economic development and people's daily needs, with total electricity production and import reaching 232.8 billion kWh, up nearly 11%; sale electricity reaching more than 208 billion kWh, up more than 11%.

EVN continues to effectively implement the tasks and solutions assigned by the Prime Minister to ensure adequate electricity supply in the last months of 2024, with electricity production and import reaching more than 77 billion kWh; sale electricity is estimated at 67.7 billion kWh.

According to calculations, with the Government's drastic directions and early, remote solutions, the electricity supply in 2025 will still be basically met.

However, there are still potential risks in the Northern region during the peak of the late dry season if the demand for electricity increases suddenly.

At the meeting, the leaders of the Government, ministries and agencies discussed and analyzed the situation of electricity production and import; electricity demand; reviewed the electricity supply capacity of hydropower, thermal power, wind power, solar power plants; the implementation of electricity projects on power plants and grids; the preparation for the supply of raw materials and fuels for electricity production such as coal, gas, etc.

Representatives of ministries and agencies proposed that along with removing difficulties and obstacles, promoting existing projects, it is necessary to add new power plant and grid projects, increase the power supply to be more proactive, ensure adequate electricity supply, and ensure national energy security.

Concluding the meeting, Prime Minister Pham Minh Chinh stating that fulfilling the commitment to ensure electricity supply, up to this point, we can affirm that there will be no shortage of electricity in 2024 even though consumption will increase by about 11-13% compared to 2023. Ensuring enough electricity is very important to attract FDI investment in the context of declining global investment. In the first 9 months of the year, Vietnam disbursed 17 billion USD of FDI capital, the highest in many years.

The Prime Minister welcomed the corporations: Electricity, Oil and Gas, Coal - Minerals, corporations in the energy sector, and relevant agencies for their efforts, contributing to the above results, in the context of not much change in electricity sources but better management from the experience of 2023 and effective measures on personnel. In particular, the Prime Minister praised EVN for its excellent performance in the past time, especially the "lightning-fast" completion of the 500 kV Quang Trach - Pho Noi line in more than 6 months, contributing to supplementing the source for the North.

Regarding 2025, according to reports, with electricity demand increasing by about 12-13% to in 2023, It was necessary to increase FDI in global recession. In the first 9 months of the year, Vietnam disbursed 17 billion USD of FDI capital, the highest in many years.

The Prime Minister welcomed the Electricity of Vietnam, Oil and Gas, Coal - Minerals, corporations in the energy sector, and relevant agencies for their efforts, contributing to the above results, in the context of not much change in power sources but better management from the experience of 2023 and effective measures on personnel.

In particular, the Prime Minister praised EVN for its excellent completion of its tasks in recent times, especially the "lightning-fast" completion of the 500 kV Quang Trach - Pho Noi line in more than 20 days.

Regarding 2025, according to reports, with electricity demand increasing by about 12-13%, it is necessary to increase by about 2,200-2,500 MW of capacity. The Prime Minister said that this is not a big problem and requested that there must be no power shortage in 2025 with specific solutions. Accordingly, urgently and effectively implement the Decree on the direct electricity purchase and sale mechanism issued by the Government; on October 19, 2024, a Decree on mechanisms and policies to encourage the development of rooftop solar power must be issued.

The Prime Minister requested to ensure sufficient fuel (coal, gas) for electricity production according to system demand; including promoting domestic coal exploitation with a long-term plan, at the same time studying coal imports from Laos, reducing imports from other sources.

The Prime Minister also directed measures related to electricity import; requested the Ministry of Industry and Trade to urgently continue to complete the draft Electricity Law (amended) to submit to the National Assembly at the 8th session and amend related circulars.

The Prime Minister emphasized: The amendment of the Electricity Law is in the direction of both strict management and creating space for development, innovation, promoting decentralization, decentralization, eliminating requests, bureaucracy and subsidies, reducing administrative procedures, and reducing compliance costs.

For the period 2026-2030, the Prime Minister requested the Ministry of Industry and Trade, the State Capital Management Committee at Enterprises, corporations and general companies to base on the estimated increase in electricity demand (about 12-14%) each year to develop and implement scenarios on power sources, power loads, power distribution, economical and efficient use of electricity and appropriate electricity prices, with the goal of not having power shortages under any circumstances.

In particular, the Prime Minister noted a number of specific contents related to diversifying power sources, ensuring base power sources, gradually shifting from coal power to clean power production, and implementing Vietnam's commitments at COP26.

Along with that, forming and developing the renewable energy industry, actively developing the power storage system, developing offshore wind power projects, overcoming and handling problems related to renewable power projects that are facing difficulties.

Regarding hydropower, the Prime Minister requested to regulate reservoirs to harmonize irrigation needs and ensure power generation for the peak dry season in the North.

Regarding gas power, the Prime Minister requested to receive the first gas flow from the Lo B-O Mon gas project by the end of 2026; calculate gas power prices appropriately according to the market specific situation, “harmonized benefits, shared risks”, harmonized interests between the State, enterprises and people to implement coal power to clean electricity production, implementing Vietnam's commitment at COP26.

The Prime Minister also requested relevant agencies to study the development of nuclear power; continue to perfect regulations, institutions and update and adjust the Power Plan VIII.

Basically agreeing with the recommendations of EVN, PVN... The Prime Minister believes that with synchronous solutions, innovative, positive, proactive and creative approaches of relevant entities, we will simultaneously achieve the following goals: Ensuring enough electricity to meet economic growth needs in the period of 2026-2030 and the following years; promoting green transformation, digital transformation, resolutely and drastically switching to clean electricity, contributing to responding to climate change; ensuring electricity prices suitable to economic conditions, income, and payment capacity of enterprises and people./.