According to the audit results, the total cost of electricity production and business in 2023 reached 528.604 trillion VND, which includes expenses related to electricity generation, transmission, distribution, retail, and industry management, an increase of 35.338 trillion VND (equivalent to a 7.16% increase) compared to 2022.

The cost of electricity production in 2023 was 2,088.9 VND/kWh, up 2.79% from 2022 (where revenues from asset liquidation, fixed asset sales, and utility recoveries were deducted from EVN’s production costs).

The total production cost for electricity was 441.356 trillion VND, with a cost of electricity generation according to retail prices at 1,744.12 VND/kWh.

“The cost of electricity production in 2023 increased by 29.112 trillion VND compared to 2022,” the audit results indicated.

The total cost of electricity transmission was 18.879.15 trillion VND, corresponding to a transmission cost of 74.61 VND/kWh.

The total cost for electricity distribution and retail was 66.773.11 trillion VND, equating to a distribution and retail cost of 263.87 VND/kWh. The total cost for ancillary services and industry management was 1.595.6 trillion VND, corresponding to an ancillary management cost of 6.31 VND/kWh.

The total subsidy for electricity production costs in remote communes and islands not connected to the national grid amounted to 428.54 billion VND.

According to the Ministry of Industry and Trade, the actual electricity sales volume for 2023 was 253.05 billion kWh, an increase of 4.26% compared to 2022.

The revenue from electricity sales in 2023 was 494.359 trillion VND, up 8.18% from 2022. The average retail electricity price was 1,953.57 VND/kWh, rising 3.76% compared to 2022.

The operational results for EVN in 2023 showed a loss of 34.244 trillion VND. Income from activities related to electricity production and business in 2023 was 12.423 trillion VND.

Overall, the combined operations of electricity production and related activities for EVN in 2023 (including income from financial operations and reactive power sales) resulted in a loss exceeding 21.821 trillion VND (not accounting for income from other production activities).

According to the audit results, approximately 18.032 trillion VND in costs were not accounted for in the electricity production business for 2023. This includes the remaining amounts of foreign exchange differences from electricity purchase contracts of generating units from 2019 and exchange rate discrepancies for electricity contracts from 2020 to 2023.

The Ministry of Industry and Trade stated that the electricity production cost audit for the years was based on documents provided by EVN and its subsidiaries, including: audited reports of electricity production activities by Deloitte Vietnam, audited consolidated financial statements of EVN, independent audit reports of the parent company and its subsidiaries, electricity purchase contracts between EVN and generating units, and the separation of costs for electricity generation, transmission, distribution, retail, and ancillary management.

Tam An