Ministry approves base price for LNG-fired power at 10.56 US cents per kWh
Vietnam’s Ministry of Industry and Trade has approved the base price for LNG-fired power produced by combined cycle gas turbine thermal power plants at VND0-2,590.85 per kWh, equivalent to 10.56 U.S. cents per kWh.
In a decision released on Monday, the ministry (MoIT) clarified that the figure does not include VAT, and that VND2,590.85 is the ceiling price.
Based on the figure, state utility Vietnam Electricity (EVN) and power generation units will negotiate further over power prices, the ministry highlighted.
PV Gas's LNG tank in Ba Ria-Vung Tau province, southern Vietnam. Photo courtesy of Ba Ria-Vung Tau newspaper.
Besides, the ministry noted the details for calculations in 2024, including power plants’ raw output of 1.58 million kWh, heat loss at 85% capacity of 6,330.2 BTU per kWh, and LNG prices of $12.98 per million BTU.
The base price is higher than EVN’s retail electricity price, which ranges from VND1,806-VND2,167 per kWh for the first 200 kWh, and VND2,729-3,151 per kWh for usage beyond 200 kWh.
The price is also higher than the preferential feed-in-tariff (FiT) of 9.35 U.S. cents per kWh for solar power, which was lowered to 7.09 U.S. cents in June 2019. For wind power, the FiT is 8.5 U.S. cents per kWh.
Vietnam currently has no operational LNG-to-power projects. Nhon Trach 3 and Nhon Trach 4, the first two in Vietnam, are under construction in the southern province of Dong Nai.
Meanwhile, Phu My 3 gas-fired power plant in the southern province of Ba Ria-Vung Tau switched to using LNG for power generation in April.
- Related News
- Read More
Vietnam's central bank to continue easing bias on interest rates
State Bank of Vietnam said it will continue steering interest rates lower to support economic growth, while maintaining a careful balance with inflation control.
Banking - Tue, April 14, 2026 | 9:16 pm GMT+7
Vinhomes targets record $1.9 bln profit, bets on transit-oriented development strategy
Vinhomes, a subsidiary of conglomerate Vingroup (HoSE: VIC), has outlined a record-breaking 2026 business plan, targeting net profit of VND50 trillion ($1.9 billion), up 18.7% year-on-year, as Vietnam’s largest listed developer positions for a selective recovery in the property market.
Companies - Tue, April 14, 2026 | 4:55 pm GMT+7
Hanoi eyes mega underground reservoir system to tackle flooding
Hanoi is planning an ambitious underground infrastructure network, including a massive “super reservoir” system, as part of a 100-year urban development vision aimed at tackling chronic flooding.
Infrastructure - Tue, April 14, 2026 | 4:33 pm GMT+7
Shipping behemoth MSC selected as major investor for mega port project in southern Vietnam
Authorities in Ho Chi Minh City have approved a consortium consisting of Vietnam Maritime Corporation (VIMC), Saigon Port, and Terminal Investment Limited Holding S.A. as the investor for the $4.98 billion Can Gio international transshipment port project.
Infrastructure - Tue, April 14, 2026 | 2:27 pm GMT+7
GG Power launches internationally standard energy storage battery plant
GG Power, a wholly Vietnamese-owned firm, has debuted a battery energy storage system (BESS) manufacturing plant in Hung Yen province, marking a milestone in the country’s push into high-tech energy industries.
Industries - Tue, April 14, 2026 | 11:47 am GMT+7
Firms need legal clarity, non-criminalization of business risks to invest boldly: lawyer
Businesses will only commit to large-scale investments and long-term strategies when the legal framework is transparent and consistent, without mechanical criminalization of business risks, said a lawyer at Baker & McKenzie.
Economy - Tue, April 14, 2026 | 8:58 am GMT+7
Generational transition must strengthen, not just transfer, leadership: SHB bank vice chairman
Do Quang Vinh, vice chairman of Vietnamese private bank SHB, said generational transition in Vietnamese companies should focus on strengthening capabilities rather than simply transferring authority, as firms enter a new phase of development.
Companies - Mon, April 13, 2026 | 10:33 pm GMT+7
Vietnam’s textile giant Vinatex posts 31% profit jump in Q1, braces for potential trade risks
Vietnam National Textile and Garment Group (UPCoM: VGT) reported Q1 profit rising 31% year-on-year, as improved yarn margins and stable garment orders helped offset a volatile global backdrop.
Companies - Mon, April 13, 2026 | 5:07 pm GMT+7
Private sector – 'one most important growth driver': legislator
After 40 years of Doi moi (reform), Vietnam's private sector has surged to become "one most important growth driver", helping build a more autonomous, self-reliant and resilient economy, says Phan Duc Hieu, a member of the National Assembly's Economic and Financial Committee.
Economy - Mon, April 13, 2026 | 4:37 pm GMT+7
Vietnam conglomerate Thaco’s 2025 profit jumps 65% to $251 mln
Vietnamese conglomerate Thaco posted strong earnings growth in 2025, with net profit from its core operations surging over 65% on the back of its real estate segment, according to newly released disclosures from Singapore-based shareholder Jardine Matheson.
Companies - Mon, April 13, 2026 | 2:58 pm GMT+7
Vietnamese private economic groups: Achievements, efforts and paradoxes
If we place Vietnam's private sector in the context of the region and the world, a clear paradox emerges: numerous but not yet strong, dynamic but not yet profound, making significant contributions but maintaining a modest position in the global value chain, writes Dau Anh Tuan, deputy secretary general of the Vietnam Federation of Commerce and Industry (VCCI).
Economy - Mon, April 13, 2026 | 1:57 pm GMT+7
Dung Quat oil refinery operator BSR posts strong Q1 profit amid energy market volatility
Binh Son Refining and Petrochemical JSC (HoSE: BSR), the operator of Vietnam’s first oil refinery Dung Quat, reported estimated Q1 net profit of nearly VND3.35 trillion ($127.1 million), more than eight times higher than a year earlier, despite global energy market disruptions linked to Middle East tensions.
Companies - Mon, April 13, 2026 | 11:57 am GMT+7
The Investor to host conference '40 years of reform: The leading role of economic groups' today
The Investor (www.theinvestor.vn) and Nha dau tu (www.nhadautu.vn) will host a conference titled "40 years of reform: The leading role of economic groups" at 1:30 p.m. Monday, April 13 in Hanoi.
Economy - Mon, April 13, 2026 | 11:15 am GMT+7
Unlocking and mobilizing resources for the development of Vietnam’s leading economic groups in new growth era
Only when a development structure where large firms lead, SMEs diffuse growth, and the State enables development is formed, can Vietnam build a sufficiently strong enterprise foundation for a new growth model, write deputy director Dr. Bui Thanh Minh and researcher Tran Duc Anh at the Private Sector Development Research Board (Board IV) Office.
Economy - Mon, April 13, 2026 | 8:00 am GMT+7
VinSpeed starts work on Hanoi-Quang Ninh high-speed railway project
VinSpeed High-Speed Railway Investment and Development JSC, an arm of Vietnam’s leading private conglomerate Vingroup, on Sunday broke ground on the Hanoi-Quang Ninh high-speed railway project in Quang Ninh province, northern Vietnam.
Infrastructure - Sun, April 12, 2026 | 3:58 pm GMT+7
Investment deal signed for $2 bln LNG power project in central Vietnam
The Trung Nam-Sideros River consortium on Friday signed a business and investment contract for the VND57.4 trillion (approximately $2.18 billion) Ca Na LNG-fired thermal power plant project, unlocking new development momentum for an integrated energy-industrial complex in the south-central province of Khanh Hoa.
Energy - Sun, April 12, 2026 | 1:49 pm GMT+7
