Coal and gas thermal powers reach 42.7 per cent of the energy provided, while gas turbines are 11,2 per cent and hydroelectric 27.4 per cent.

Việt Nam is set to produce or import 284.5 billion kilowatt hours (kWh) of electricity this year, 16 billion kWh higher than 2022's tally and 29 billion kWh more than 2021.

The power plan for 2023, approved by the Ministry of Industry and Trade, puts the country's electricity production and imports in the dry season at 137.1 billion kWh and in the rainy season at 147.4 billion kWh.

The plan is based on GDP growth of 6.5 per cent already approved by the country’s legislative body and a planned total supply of nearly 251.3 billion kWh for residents nationwide, an increase of nearly 9 billion kWh against last year, according to the ministry.

To date, 108 power plants have participated in bidding as competitors in the Vietnamese electricity market. The actual supply, based on power purchase agreements and regulatory price schemes, will be determined by current regulations on electricity prices and market developments.

The ministry has instructed EVN to establish suitable operating methods and mobilise power sources, including renewables, to ensure a sufficient supply for the country, one of the fastest developing economies worldwide.

The ministry has told the state-run PetroVietnam to work on plans to prioritise gas mobilisation for the country’s power supplies.

The State-owned mining group Vinacomin and the Northeast Corporation have been instructed to ensure a sufficient and continuous coal supply for thermal power plants.

By the end of 2022, Việt Nam’s total installed capacity was almost 77,800 megawatts, an increase of 1,400 MW against 2021. Renewable energy comprised 26.4 per cent, or 20,165 MW, according to the ministry. — VNS