Vietnam tops ASEAN in electricity sources, output up 4.56% in 2023: EVN

By Tri Duc
Wed, January 3, 2024 | 5:36 pm GMT+7

Vietnam’s electricity sources in 2023 grew 3.6% year-on-year to 80,555 MW while output rose 4.56% to 280.6 billion kWh, state utility Vietnam Electricity (EVN) reported Tuesday.

It said Vietnam has topped ASEAN in terms of electricity sources, which included 21,664 MW of renewable energy, or 27% of the total.

Electricity sales reached 251.25 billion kWh, up 3.52% year-on-year, EVN said.

EVN general director Nguyen Anh Tuan speaks at a conference in Hanoi, January 2, 2023. Photo courtesy of EVN.

EVN general director Nguyen Anh Tuan speaks at a conference in Hanoi, January 2, 2023. Photo courtesy of EVN.

Power shortages early in the year were caused by drought conditions that saw water levels drop at many hydropower reservoirs. As a result, hydropower accounted for just 28.4% of output last year, lower than the normal figure of around 35% in years, said EVN general director Nguyen Anh Tuan.

Despite accounting for 27% of power sources, renewable energy made up just 13% of power generation last year, the executive added. Coal-fired power made up 46.2% of output despite making up only 33.2% of power sources, Tuan said.

With renewable energy being costly and hydropower as a stable source is limited, EVN was facing high power costs of VND2,092.8 ($0.086) per kWh, higher than its selling price of VND1,950 ($0.08) per kWh, Tuan said.

He asked customers to sympathize with the utility and called for policy adjustments to redress financial issues facing the national utility.

EVN earned VND497 trillion ($20.38 billion) from selling electricity in 2023, up 5.4% year-on-year, Tuan added.

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