Southern Power Corporation (EVNSPC) is one of five distribution corporations of Vietnam Electricity Group, performing the function of distributing and trading electricity to serve production and people's lives in 21 provinces and cities in the Southern region. EVNSPC is currently an enterprise with a total workforce of over 21,000 people, a charter capital of nearly 16,000 billion VND, equity (State capital) of over 18,000 billion VND, and total assets of over 57,000 billion VND. By the end of 2023, EVNSPC's financial indicators were all positive, and were rated by Fitch Ratings at BB + "stable outlook".
Faced with the increasing demand for electricity in the Southern region, EVNSPC always strives to ensure electricity supply, invest in building the power grid system, actively implement digital transformation programs, diversify financial solutions in the business and customer service sectors. In 2024 and the following years, EVNSPC plans to mobilize maximum resources to promote investment in construction, improve grid reliability, and bring good experiences to customers using electricity services.
In 2024, EVNSPC's expected net investment value is VND 10,842 billion, of which the domestic credit capital demand is VND 6,291 billion. The total investment of new investment projects is expected to be VND 10,061 billion, with commercial credit capital requiring new credit contracts in 2024 being VND 6,156 billion. Of which, the member power companies are VND 4,738 billion; the auxiliary units in Ho Chi Minh City are VND 1,419 billion. Therefore, flexible capital with competitive costs is considered a balance to help EVNSPC complete its own key goals and the entire electricity industry in general, which is to invest in building the power grid, ensuring sufficient electricity supply for socio-economic development.
Currently, EVNSPC is managing the sale of electricity to over 9.3 million customers, with commercial electricity output in 2023 reaching 85 billion 167 million kWh, up 2.54% over the same period and reaching over 100% of the plan assigned by EVN. Revenue in 2023 is 160 trillion VND. EVNSPC's expected commercial electricity output in 2024 according to the plan assigned by EVN is 87 billion 800 million kWh with expected revenue reaching over 170 trillion VND. Providing diversified digital payment methods and non-cash payments is considered a necessary factor in the digital transformation period. Meanwhile, PVcomBank is one of the pioneering banks in this field.
The cooperation between EVNSPC and PVcomBank is strategic, not only creating favorable conditions for people, helping to diversify digital payment channels and improve EVNSPC's customer care services, but also contributing to simplifying procedures, saving operating time and easily managing revenue and expenditure.
In addition, EVNSPC and its member units in 21 southern provinces also enjoy the maximum superior financial services from PVcomBank such as: Automatic centralized capital management service; credit granting service; cashless payment service and many other products and services... The cooperation programs agreed upon in the Agreement will be implemented in stages, in accordance with the operating model of each party.
For individual customers, PVcomBank builds many suitable and convenient financial product packages, combining diverse incentives for individual customers - including personal financial management for EVNSPC employees and digital payment solutions for all EVNSPC customers.
Thanh Ngoc
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