On the morning of October 19, at the Government Headquarters, Prime Minister Pham Minh Chinh chaired a meeting of the Government Standing Committee with ministries and branches on the implementation of important projects to ensure adequate electricity supply and national energy security in 2025 and the following years.
Attending the meeting were Deputy Prime Ministers: Tran Hong Ha, Le Thanh Long, Ho Duc Phoc; leaders of relevant central ministries and branches; leaders of economic groups in the energy sector.
Directing at the meeting, Prime Minister Pham Minh Chinh said that according to calculations, for every 1% economic growth, electricity demand increases by 1.5%. In 2024, Vietnam strives for economic growth of about 7%, in 2025 and the following years, it strives for higher growth, accordingly, the demand for electricity for production, business and consumption will also increase, electricity demand will increase by at least 10%.
The Prime Minister emphasized the lesson in 2023, although the Government and the Prime Minister have given strong direction on ensuring electricity, the Ministry of Industry and Trade and the State Enterprise Management Committee at enterprises have not implemented it resolutely, so there have been local power shortages at some times and places; affecting production, people's lives, and the reputation of investors. In particular, the power shortage occurred while overall there was no shortage of electricity but due to limited direction and operation.
Therefore, to ensure adequate electricity supply and national energy security, especially when the country is in the process of industrialization and modernization, the Prime Minister requires early and remote preparation to meet the economic energy demand. In particular, it is necessary to perfect institutions and laws; adjust the Power Plan VIII; diversify power sources, including self-production and self-consumption, import, offshore wind power; remove difficulties and obstacles in backlogged power projects...
According to Vietnam Electricity Group (EVN), in the first 9 months of 2024, EVN ensured sufficient electricity supply to serve socio-economic development and people's daily needs, with total electricity production and import reaching 232.8 billion kWh, up nearly 11%; commercial electricity reaching more than 208 billion kWh, up more than 11%.
EVN continues to effectively implement the tasks and solutions assigned by the Prime Minister to ensure adequate electricity supply in the last months of 2024, with electricity production and consumption reaching more than 77 billion kWh; commercial electricity is estimated at 67.7 billion kWh.
According to calculations, with the Government's drastic directions and early, remote solutions, the electricity supply in 2025 will still be basically met. However, there are still potential risks in the Northern region during peak times at the end of the dry season if electricity demand increases suddenly.
Currently, EVN is investing in 10 power source projects with a total capacity of 6,793 MW. Of which, the projects under construction include: Yaly Hydropower Expansion, Hoa Binh Hydropower Expansion, Quang Trach I Thermal Power Plant; projects in the process of investment preparation: Tri An Hydropower Expansion, Bac Ai Pumped Storage Hydropower Plant, Quang Trach II Thermal Power Plant, Dung Quat Combined Cycle Gas Turbine Power Plant projects, Phuoc Thai Solar Power Plants, etc.
Along with that, related procedures are being deployed to implement new power source projects in Power Plan VIII such as O Mon I Thermal Power Plant, Tuyen Quang Hydropower Expansion, Se San 3, 4 Hydropower Expansion, and the Northern Offshore Wind Power Project.
Regarding the power grid, in addition to the 500 kV line 3 project, EVN is currently urging the implementation of key power grid projects including the power grid import project from Laos and the projects to clear the Northwest hydropower plant and connect to gas power sources.
Of which, 2 imported links of 220 kV Nam Mo - Tuong Duong, Bo Y have been completed; 3 links are currently being implemented, expected to be completed by the end of 2024, which are 500 kV Monsoon - Thanh My, Nam Sum - Nong Cong, Nam Emoun - Tram cut Dak Ooc; the investment policy for the 500 kV Lao Cai - Viet Tri line has been submitted, and the 220 kV Huoi Quang - Nghia Lo - Viet Tri line is being implemented. In addition, there are projects to connect gas power sources such as: synchronous power grid with Nhon Trach 4 and 3 Thermal Power Plants.
At the meeting, leaders of the Government, ministries and branches discussed and analyzed the situation of electricity production and import; electricity demand; reviewed the electricity supply capacity of hydropower, thermal power, wind power and solar power plants; the implementation of electricity projects on power sources and grids; the preparation of the supply of raw materials and fuels for electricity production such as coal, gas, etc.
Concluding the meeting, the Prime Minister welcomed and commended ministries, branches and corporations in the energy sector, especially Vietnam Electricity Group, for their efforts to ensure sufficient electricity supply for production and consumption throughout 2024, with consumption increasing by 11-13% per year, while power sources did not increase, including the completion of the 500 kV circuit 3 transmission line in just over 6 months of implementation.
According to the Prime Minister, it is estimated that in 2025, the country's electricity demand will increase by about 2,200 MW, but with specific solutions, there will basically be no shortage of electricity. However, in the long term, with the electricity demand increasing by 12-15%, to ensure electricity supply in the period from 2026-2030, ministries and branches must proactively and actively implement solutions to ensure adequate electricity supply for production and consumption.
In particular, the Prime Minister requested to urgently implement the Decree on direct electricity trading; complete and immediately submit to the Prime Minister for consideration and promulgation the Decree on trading in self-produced and self-consumed electricity, solar power, and rooftop electricity to encourage the development of clean electricity and form thousands of renewable energy power industries; focus on removing difficulties and obstacles to promote projects, especially those related to investment procedures, land use planning, conversion of forest use purposes, site clearance, etc., including completing the implementation of imported electricity connections in 2024; deploying the construction of the 500 kV Lao Cai - Viet Tri line within 6 months; adding new power source and grid projects, increasing power supply to be more proactive, ensuring adequate electricity supply, ensuring national energy security; urgently completing negotiations on electricity imports from Laos and China.
The Head of the Government directed relevant ministries and branches to urgently complete institutions and legal regulations; update the Power Plan VIII, including strengthening decentralization, eliminating the request-grant mechanism, reforming administration, reducing input costs, and reducing electricity prices; increasing coal and gas exploitation for electricity production, reducing imports, but determinedly and drastically shifting coal-fired power to clean electricity production, and implementing Vietnam's commitments at COP 26.
The Prime Minister emphasized that ministries and branches must develop scenarios to proactively have solutions to ensure adequate electricity supply, avoiding power shortages under any circumstances; continue to diversify electricity sources including hydropower, thermal power, gas power, wind power, solar power, nuclear power; study appropriate electricity prices, based on the situation and conditions of the country, close to the market, in the spirit of "harmonizing benefits, sharing risks", "harmonizing the interests of the State, people, and businesses"...
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