That was the sharing of Chairman of the Board of Members (BOD) of Vietnam Electricity Group (EVN) Dang Hoang An at the Conference to summarize the work in 2023 and deploy tasks in 2024, taking place on January 2.
EVN leaders said that ensuring electricity supply in 2024 is a difficult task.
EVN still loses 17,000 billion VND after 2 times of electricity price increase
According to EVN, in 2023, the total electricity production and import output of the entire system will reach 280.6 billion kWh, an increase of 4.56% compared to 2022; commercial electricity is estimated at 251.25 billion kWh, an increase of 3.52%. Revenue from electricity sales is estimated at VND 497,000 billion, an increase of 5.4% compared to 2022. EVN's budget contribution in 2023 is estimated at VND 21,000 billion.
Speaking at the conference, Mr. Nguyen Anh Tuan, General Director of EVN, said that the two biggest challenges for EVN at present are financial balance and ensuring electricity supply.
In 2023, the average retail electricity price was adjusted up twice but was not enough to cover the cost of electricity production. EVN continued to suffer losses in electricity production and trading for the second consecutive year.
According to the document EVN sent to the Ministry of Industry and Trade, by the end of 2023, the group recorded a consolidated pre-tax loss of about VND 17,000 billion, a decrease of VND 9,000 billion compared to 2022.
EVN's General Director said that the above losses were mainly due to EVN's selling price being lower than its cost price. According to EVN's calculations, the total average cost of electricity generation, transmission and distribution is 2,092.78 VND/kWh but the average electricity price is 1,950.32 VND/kWh. Accordingly, for each kWh sold, EVN is incurring a loss of 142.5 VND.
Mr. Nguyen Anh Tuan also said that in 2024, EVN plans to ensure enough electricity for socio-economic development with GDP growth of 6 - 6.5%. However, in reality, the electricity supply situation this year will be very difficult. Because currently, EVN and power generation corporations can only proactively control about 37.5% of electricity sources.
EVN Chairman of the Board of Directors Dang Hoang An speaks at the conference
Speaking at the conference, EVN Chairman Dang Hoang An reiterated that the 23 days of power shortage in 2023 were a painful and expensive lesson, causing "terrible consequences" for the economy, the investment environment, and the country's reputation.
Mr. Dang Hoang An also emphasized that ensuring electricity supply is a difficult task in the coming years, not just in 2024. If calculating the total installed capacity of EVN and state-owned corporations, it can be proactive at nearly 48%, the remaining 52% depends on outside investors.
"The Ministry of Industry and Trade, the Electricity Regulatory Authority and relevant authorities continue to closely direct non-industry enterprises. 52% accounts for a very large output, their role is key. If they do not produce well and lack fuel, it will affect the electricity supply for the whole country," said Mr. An.
Not increasing electricity prices will make it difficult to balance EVN's finances.
Directing at the conference, Mr. Nguyen Hoang Anh, Chairman of the State Capital Management Committee at Enterprises, emphasized that balancing finances for EVN to solve the difficulties of this group is an issue that needs attention and resolution, not to be allowed to continue to drag on.
Accordingly, the Chairman of the State Capital Management Committee at Enterprises stated his opinion: if the electricity price is not increased, it is certainly impossible to resolve EVN's current accumulated losses. If the accumulated losses cannot be resolved, other existing problems in the electricity industry cannot be resolved.
"The Government has directed, the Prime Minister has said many times, the mechanism allows for an increase in electricity prices below 3%, so just do it. Our point of view is that the Prime Minister has allowed, the Ministry of Industry and Trade has given its opinion, the State Capital Management Committee at Enterprises has directed EVN to do it. If we do not resolve this in the coming years, and let the current situation of accumulated losses continue, there is no way to overcome it," said Mr. Nguyen Hoang Anh.
Deputy Minister of Industry and Trade Nguyen Sinh Nhat Tan emphasized that the most important task of EVN is to ensure electricity supply and make every effort to avoid power shortages in 2024. Accordingly, the leaders of the Ministry of Industry and Trade requested EVN to focus and give the highest priority to this goal.
According to Deputy Minister Nguyen Sinh Nhat Tan, the Ministry of Industry and Trade has approved a plan to prepare for power shortages in April, May, June and July.
"Based on the experience and lessons learned from the power shortage in 2023, in this decision, the Ministry of Industry and Trade will require functional units to review and report on the power supply situation quarterly, proactively deploy solutions, and not let the power shortage situation repeat itself," said Mr. Tan.
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