Electricity plan fails to meet progress requirements

The national electricity plan for the 2011-2020 period with a vision toward 2030 or the seventh electricity plan has failed to meet progress requirements, 

with electricity production and power grid meeting only 87.7% and 72% of the targets, respectively.

A wind power plant in Binh Thuan Province – PHOTO: THANH HOA

Addressing a meeting held by the Ministry of Industry and Trade on July 8, Deputy Minister of Industry and Trade Hoang Quoc Vuong said several coal-fired power plants in the Southwest have been suspended, while nuclear power plants were not approved and many power projects developed under the build-operate-transfer format have moved at a snail’s pace.

“The slow progress of power projects has affected the entire progress of the seventh electricity plan, with the country facing an electricity shortage in the 2020-2025 period. If there are no timely solutions, the country will face a serious electricity shortage in the future, affecting its socioeconomic development,” Vuong noted.

The deputy minister revealed that the national electricity plan for the 2021-2030 period with a vision toward 2045 or the eighth electricity plan will focus on developing renewable energy and restricting coal-fired power.

Le Thi Thu Ha from the Institute of Energy stated that the eighth electricity plan has six scenarios.

The first, second and third scenarios focus on increasing the portion of renewable energy, while the fourth scenario sets out to reduce greenhouse gas emissions by 25%.

According to the fifth scenario, the Government might not approve new coal-fired power projects after 2030, while the sixth scenario aims to generate 1,000 MW and 5,000 MW from nuclear power projects by 2040 and 2045, respectively.

The eighth electricity draft plan suggests that the southern and central regions should focus on developing renewable energy, while the northern region should concentrate on liquefied natural gas and imported coal for power generation. SGT

 
 
 

Other News

.
Vietnam Airlines plans to sell nine planes due to financial woes
Vietnam Airlines plans to sell nine planes due to financial woes
BUSINESSicon  06/08/2020 

Vietnam Airlines is planning to sell nine A321CEO planes to optimize its fleet and improve its cash flow, as the national flag carrier’s revenue has dropped sharply due to the Covid-19 pandemic.

Maximum $130,700 fine for listing violations: Draft decree
Maximum $130,700 fine for listing violations: Draft decree
BUSINESSicon  06/08/2020 

Public companies may receive a penalty of VND2-3 billion ($87,120-$130,700) for falsifying share listing and trading documents under a proposal from the Ministry of Finance.

Furthering developmental ties with dynamic Singapore
Furthering developmental ties with dynamic Singapore
BUSINESSicon  06/08/2020 

Vietnam and Singapore are witnessing their heyday in bilateral and multifaceted cooperation.

Wide impacts to be made with new law changes
Wide impacts to be made with new law changes
BUSINESSicon  06/08/2020 

Effective in 2021, the amended laws on Enterprises, Investment, and Public-Private Partnership are expected to entail breakthrough changes to Vietnam’s business and investment landscape in the coming time, 

Decisive actions to achieve goals
Decisive actions to achieve goals
BUSINESSicon  06/08/2020 

The Ministry of Planning and Investment is currently working on possible scenarios for the upcoming period amid the ongoing developments of the global health crisis.

Millenium to develop $15 billion LNG project in Khanh Hoa
Millenium to develop $15 billion LNG project in Khanh Hoa
BUSINESSicon  06/08/2020 

If the $15 billion LNG project of Millenium Group is approved, it will contribute to making the Nam Van Phong area the largest LNG centre in Southeast Asia.

Rebound likely despite bumpy roads
Rebound likely despite bumpy roads
BUSINESSicon  06/08/2020 

Despite a serious dip in local production caused by the health crisis, Vietnam is expected to be one of the fastest-growing nations worldwide this year, with the economy forecast to stay among the few nations with positive growth.

Unique advantages can pull Vietnam out of uncertainty
Unique advantages can pull Vietnam out of uncertainty
BUSINESSicon  06/08/2020 

In life, economic and health gains are not always equal. This is true for individuals and for countries. While Vietnam has managed to contain the pandemic so far, its economy has been hurt in recent months. 

Hanoi’s Old Quarter businesses bear brunt of COVID-19 impact
Hanoi’s Old Quarter businesses bear brunt of COVID-19 impact
BUSINESSicon  06/08/2020 

The second wave of the COVID-19 epidemic to hit Vietnam has continued to deal a devastating blow to small businesses, travel agencies, and tourist accommodations in the Old Quarter of Hanoi due to the suspension of operations.

Container handling charge increases proposed to attract investment in seaports
Container handling charge increases proposed to attract investment in seaports
BUSINESSicon  06/08/2020 

Container loading and unloading service charges should be increased to approach the regional level so investors would not feel hesitant when pouring money into developing seaports.

Policies encourage automakers to assemble cars in Vietnam
Policies encourage automakers to assemble cars in Vietnam
BUSINESSicon  06/08/2020 

 Several automakers are considering assembling their best-selling models in Viet Nam due to the Government’s policy of zero import tariffs on components and a 50 per cent reduction in registration fees.

Thai firms acquire wind power farm in Ninh Thuan
Thai firms acquire wind power farm in Ninh Thuan
BUSINESSicon  06/08/2020 

Thailand’s Banpu and its power business arm Banpu Power (BPP) have joined forces to acquire El Wind Mui Dinh, an onshore wind farm in the south-central province of Ninh Thuan, in a deal worth $66 million.

EVFTA smooths the way for Vietnamese farm produce
EVFTA smooths the way for Vietnamese farm produce
BUSINESSicon  06/08/2020 

The EU-Vietnam Free Trade Agreement, at its core, aims to liberalise both tariff and non-tariff barriers on key exports of both sides over a period of 10 years.

Mountainous areas and islands need investment
Mountainous areas and islands need investment
BUSINESSicon  07/08/2020 

PhD Doctor Le Quoc Phuong, former deputy director for the Information Centre for Industry and Trade, under the Ministry of Trade, talks on key requirements in trade development in mountainous areas and islands.

Vietnam receives positive view in global exports as EVFTA takes effect: report
Vietnam receives positive view in global exports as EVFTA takes effect: report
BUSINESSicon  05/08/2020 

Vietnam is expected to continue growing its share of global exports despite decline amid the resurgence in the COVID-19 pandemic after three months of no local transmissions, according to an HSBC report.

Local banks are racing to catch digitisation trend: expert
Local banks are racing to catch digitisation trend: expert
BUSINESSicon  05/08/2020 

Vietnam has seen a digital wave in the finance-banking industry, with many lenders investing significantly in digitisation, experts have said.

Experts call on Vietnamese government to aid businesses again
Experts call on Vietnamese government to aid businesses again
BUSINESSicon  05/08/2020 

Amid the new COVID-19 outbreak, experts have suggested the Government offer another credit support package to help enterprises, especially large businesses in key areas.

Vietnam's textile and apparel firms lack orders for the last two quarters
Vietnam's textile and apparel firms lack orders for the last two quarters
BUSINESSicon  05/08/2020 

The Ministry of Industry and Trade said that textile production increased by 1.8 per cent, while clothing production decreased by 4.6 per cent in the first seven months of this year over the same period last year.

New power pricing mechanism to be applied next year
New power pricing mechanism to be applied next year
BUSINESSicon  05/08/2020 

The common retail power price is expected to be applied at the beginning of next year together with the current tiered pricing mechanism, said Deputy Minister of Industry and Trade Do Thang Hai.

VN tra fish companies see profits slump in pandemic
VN tra fish companies see profits slump in pandemic
BUSINESSicon  05/08/2020 

Multiple tra fish companies suffered losses due to falling export prices and lower orders, focusing instead on the domestic market amid the COVID-19 pandemic.

 
 
 
Leave your comment on an article

OR QUICK LOGIN