According to the Electricity Regulatory Authority of Vietnam (Ministry of Industry and Trade), of the national power system's capacity of nearly 80,000MW, state-owned enterprises including EVN, Vietnam Oil and Gas Group (PetroVietnam), and Vietnam National Coal and Mineral Industries Group (Vinacomin) hold about 47%.

The private sector now accounts for 42% of power generation output while other corporations in the oil, gas and minerals sectors contribute 47% of total power supply for the national grid.

However, EVN also contributes 26% of power supply through indirect holdings in energy firms, taking the total to 37%.

BOT (build-operate-transfer) projects and electricity imports account for 10% and 1%, respectively.

Before 2012, the private sector supplied nearly 10% of electricity for the national grid. Incentive policies introduced by the Government to promote renewable energy development have led to private sector investments in the energy sector soaring in recent years.

Presently, EVN directly manages only about 11 per cent of its total power capacity, primarily focusing on crucial multipurpose hydroelectric plants such as Lai Chau, Son La, Hoa Binh, and Tri An.

The remaining 26 per cent is held by three power generation corporations under EVN – Genco 1, Genco 2, and Genco 3. These corporations are currently in the process of equitisation, leading to a gradual decrease in EVN’s shareholding.

Regarding power mobilisation, in the first nine months of 2023, the system's total output reached nearly 210 billion kilowatt hours, marking a 3 per cent increase compared to the same period last year. Of this, the installed capacity of renewable energy sources, standing at nearly 21,000MW and ranking third in the system, contributes close to 14 per cent of the total output.

The sources of electricity in Vietnam include hydroelectricity, thermal power running on coal, diesel and liquefied natural gas (LNG), renewable energy, imported electricity. Among those, hydroelectricity and coal thermal power constitute the main share.

By the end of 2022, coal thermal power holds the largest share with 33%, followed by hydroelectricity at 28%. Renewable energy and LNG-fired power follow at 26% and 11%, respectively, with the rest coming from other sources.

Regarding power generation, in the first nine months of the year, the generated power capacity amounted to 209.9 billion kWh, with the most substantial contribution from coal thermal power at 97.2 billion kWh, or 46.3%.

The evolution of Vietnam's energy sector reflects a broader regional trend towards diversification and liberalisation in energy markets. With the country's increasing openness to private investment and a growing focus on renewable energy, Vietnam's power generation landscape is set to transform further, aligning more closely with international energy and environmental standards.

This shift not only represents a pragmatic response to the increasing energy demands but also illustrates Vietnam's commitment to sustainable development and climate change mitigation.

According to the Electricity Regulatory Authority of Vietnam, despite having an installed capacity of 21,000 MW, making it the third-largest power source, electricity generation from renewable energy reached nearly 14% of the total power capacity as of September this year.