No power cuts until year-end: deputy minister

By Bao Lam, Huong Dung
Wed, July 5, 2023 | 4:51 pm GMT+7

There will be no shortage of electricity for production and daily life in Vietnam until the end of this year, Deputy Minister of Industry and Trade Do Thang Hai said Tuesday.

Speaking at the government's monthly press meet, Hai said the demand for electricity for people’s production and consumption activities in the first six months of 2023 was higher than the same period last year.

The total electricity produced and imported by the whole national system in June was estimated at 25,323 billion kWh, a year-on-year increase of over 3.4%, raising the six-month figure to 136,090 billion kWh (including rooftop solar power output), up 2.2%, he said.

Deputy Minister of Industry and Trade Do Thang Hai speaks at a press meet on July 4, 2023. Photo by The Investor/Nhat Bac.

Deputy Minister of Industry and Trade Do Thang Hai speaks at a press meet on July 4, 2023. Photo by The Investor/Nhat Bac.

The system had ensured electricity production and supply in the first four months of 2023, meeting electricity demand for production and daily life of people nationwide, Hai said.

He also acknowledged that power supply in May and June had faced many difficulties due to prolonged hot weather, increased demand, low water flows to hydropower reservoirs, and problems in the operation and repair of thermo power turbines.

“Therefore, state utility Vietnam Electricity (EVN) had to make power cuts in some localities, especially in the northern region,” he said.

In the last 10 days of June, water flows to hydropower reservoirs improved, some thermo power turbines had their problems fixed and resumed operations. This allowed the northern electricity grid to meet regional demand.

"In July, the power system is expected to continue facing operational difficulties, especially in the north, as heat waves linger and reservoir water levels remain low," Hai said.

Following directions from Prime Minister Pham Minh Chinh on ensuring safe and stable electricity supply in July and the last months of 2023, the Ministry of Planning and Investment (MoIT) has been closely monitoring the operation of the power system, he added.

The ministry has requested EVN for continuous updates on the power load situation as well as conditions for operating the power system, ensuring safe, stable and reliable electricity operation and supply for the national power system for the rest of the year.

He said the EVN has been asked to proactively develop scenarios to cope with power system problems and promptly report cases with “unusual impacts” on the assurance of power supply so that competent authorities can find solutions, he said.

The national power utility has also been asked to coordinate with electricity users, especially large consumers, to prepare scenarios and plans to adjust the power load towards ensuring power system security.

Hai said it was necessary to synchronously implement four solutions: providing enough fuel for thermal power plants, minimizing breakdowns and quickly fixing problems (if any); rational operation of hydropower sources; taking electricity saving measures; and accelerating investment in power sources and grid projects.

Regarding rooftop solar power generation, the deputy minister said that the government has directed ministries, including the MoIT, as well as other agencies and localities to review and correct investments in the energy source.

According to EVN's National Load Dispatch Center, the installation capacity of rooftop solar power in Vietnam as of March 2023 was around 7,660 MW, or 9.65% of all power sources. It is estimated to increase by 2,600 MW by 2030 under the Power Development Plan VIII.

The MoIT has submitted to the PM a proposal on incentives for solar power development at homes and official buildings. Under the proposal, households and offices that install rooftop solar panels will enjoy several incentives including tax and fee breaks and preferential loans.

Comments (0)
  • Read More
Café Amazon retreats, Mixue scales down in Vietnam over intense competition

Café Amazon retreats, Mixue scales down in Vietnam over intense competition

Vietnam’s food and beverage (F&B) sector is seeing a wave of closures and market exits as rising competition and shifting consumer preferences squeeze profit margins.

Economy - Sun, November 23, 2025 | 2:36 pm GMT+7

Vietnam Education Publishing House strengthens cooperation with Malaysia’s Pelangi Publishing Group

Vietnam Education Publishing House strengthens cooperation with Malaysia’s Pelangi Publishing Group

Vietnam Education Publishing House (VEPH) met with Malaysia’s Pelangi Publishing Group in mid November to expand professional exchange and explore deeper cooperation in educational publishing.

Companies - Sun, November 23, 2025 | 12:21 pm GMT+7

French energy giant plans $500 mln investment in green Vietnam projects

French energy giant plans $500 mln investment in green Vietnam projects

French green hydrogen infrastructure developer HDF Energy is looking to invest $500 million in potential energy and transport projects across Vietnam, particularly the southern economic hub of Ho Chi Minh City.

Energy - Sun, November 23, 2025 | 11:29 am GMT+7

Vincom Retail estimated to book $72 mln profit from Hanoi mall sale: broker

Vincom Retail estimated to book $72 mln profit from Hanoi mall sale: broker

Vincom Retail (HoSE: VRE), Vietnam’s leading retail property developer, is set to record an estimated VND1.9 trillion ($72 million) in profit after completing the divestment of its entire equity interest in a Hanoi project last month, according to a report by BSC Securities.

Real Estate - Sun, November 23, 2025 | 8:00 am GMT+7

Market watchdog conference in central Vietnam offers insight into amended securities law

Market watchdog conference in central Vietnam offers insight into amended securities law

A conference recently held by the State Securities Commission (SSC) in Danang briefed companies and market participants in central Vietnam on amendments to the Securities Law and guiding documents, as part of the authority's 2025 legal dissemination plan.

Finance - Sat, November 22, 2025 | 9:48 pm GMT+7

Central Retail incurs 6% drop in Jan-Sept revenue from Vietnam

Central Retail incurs 6% drop in Jan-Sept revenue from Vietnam

Thailand’s top retailer Central Retail posted revenues of nearly THB35.48 billion ($1.09 billion) in Vietnam in the first nine months of this year, down 6.6% year-on-year due to exchange rate fluctuations.

Companies - Sat, November 22, 2025 | 3:32 pm GMT+7

Young leadership mindset drives SHB bank's next growth phase: exec

Young leadership mindset drives SHB bank's next growth phase: exec

Young leadership would play a pivotal role as Vietnamese businesses navigate digital transformation and rising global competition, said Do Quang Vinh, vice chairman cum deputy CEO of Saigon-Hanoi Commercial Joint Stock Bank (SHB).

Banking - Sat, November 22, 2025 | 3:23 pm GMT+7

Stock market regulator holds final round of ESG-focused corporate governance contest in Hanoi

Stock market regulator holds final round of ESG-focused corporate governance contest in Hanoi

The final round of the “Vietnam ESG Challenge 2025”, a competition aimed at promoting sustainable development, modern corporate governance, and social responsibility among Vietnamese university students, took place in Hanoi on Monday.

Finance - Sat, November 22, 2025 | 10:16 am GMT+7

IFC, Vietnam's EVNNPT discuss investment in power transmission projects

IFC, Vietnam's EVNNPT discuss investment in power transmission projects

Vietnam's National Power Transmission Corporation (EVNNPT) and the International Finance Corporation (IFC), a member of the World Bank Group, have discussed issues related to potential cooperation and investment in power transmission projects under the Power Development Plan VIII (PDP VIII).

Companies - Sat, November 22, 2025 | 9:23 am GMT+7

Earnings strength meets market consolidation

Earnings strength meets market consolidation

Global appetite for emerging markets is still cautious, constrained by high returns in developed markets amid geopolitical uncertainty, while pressure on the Vietnamese dong has been compounded by seasonal FDI profit repatriation, writes Minh Dang, head of research at Dragon Capital.

Economy - Sat, November 22, 2025 | 8:00 am GMT+7

Phat Dat pursues HCMC housing project after a decade as it restructures property portfolio

Phat Dat pursues HCMC housing project after a decade as it restructures property portfolio

Phat Dat Real Estate Development Corp (PDR) has moved to acquire a 50% stake in AKYN Investment Trading Service JSC as part of efforts to revive a long-delayed residential project in central Ho Chi Minh City, the company said in a board resolution. Financial terms were not disclosed.

Real Estate - Fri, November 21, 2025 | 9:30 pm GMT+7

F88 wins dual workplace awards for 2025

F88 wins dual workplace awards for 2025

Vietnam’s consumer finance major F88 has been named one of "Vietnam Best Places to Work" and a “Happiness at Work” enterprise for 2025.

Companies - Fri, November 21, 2025 | 4:07 pm GMT+7

European IP developer CTP plans large industrial-logistics project in northern Vietnam port city

European IP developer CTP plans large industrial-logistics project in northern Vietnam port city

CTP, a Dutch-led industrial park developer headquartered in the Czech Republic, is exploring a large integrated complex combining seaports, an airport, logistics facilities and industrial parks in the northern port city of Hai Phong.

Infrastructure - Fri, November 21, 2025 | 3:24 pm GMT+7

Vingroup to build $334 mln international port in central Vietnam

Vingroup to build $334 mln international port in central Vietnam

Vietnam's leading private conglomerate Vingroup will develop a modern, large-scale international port named Son Duong at the Vung Ang Economic Zone in Ha Tinh province.

Infrastructure - Fri, November 21, 2025 | 3:10 pm GMT+7

HCMC ready to operate International Financial Center: city authorities

HCMC ready to operate International Financial Center: city authorities

Ho Chi Minh City has completed preparations across infrastructure, spatial planning, digital systems, organizational apparatus, and human resources to ensure Vietnam's International Financial Center can begin operating immediately after the Government issues its guiding decrees.

Economy - Fri, November 21, 2025 | 2:11 pm GMT+7

Hoa Phat Agriculture valued at over $450 mln ahead of IPO, ranking 2nd in Vietnam's livestock industry

Hoa Phat Agriculture valued at over $450 mln ahead of IPO, ranking 2nd in Vietnam's livestock industry

Hoa Phat Agriculture Development JSC (HPA) has been valued at more than $450 million based on its newly announced IPO price, making it the second-largest company in Vietnam’s livestock industry after Masan MeatLife.

Companies - Fri, November 21, 2025 | 11:26 am GMT+7