The Government Office has just issued Notice No. 500/TB-VPCP on the conclusion of the Government Standing Committee at the meeting on the implementation of important projects of Vietnam Electricity Group and Vietnam Oil and Gas Group to ensure electricity supply and energy security.
The announcement stated that with an expected economic growth rate of 7% in 2025 and to ensure enough electricity for production, business and people's lives, electricity growth must reach 12-13%. According to the report, the total capacity needed to increase to meet demand is expected to be about 2,297 MW.
With operational experience in 2024, the Prime Minister requested that there must be no power shortage in 2025, in which, he proposed implementing solutions to ensure compensation for the total capacity shortage.
The Ministry of Industry and Trade will study and promote the purchase of electricity from Laos, agree with the buyer for the entire 5-year period and adjust the import price of electricity accordingly. In addition, it will also consider the possibility of increasing the import of electricity from China to supplement the system if necessary.
For the period 2026-2030, the Ministry of Industry and Trade, the State Capital Management Committee at Enterprises, relevant corporations and groups, based on the electricity growth target of about 12-15% per year, will develop scenarios for power sources, power transmission and power distribution.
Using electricity economically, efficiently and at a suitable price, with the definite goal of not having a power shortage under any circumstances for the entire period from now until 2030, both ensuring growth and implementing green transformation, in which electricity prices must be suitable to the socio-economic situation and people's payment level.
The Ministry of Industry and Trade needs to conduct research to convert the base electricity from coal to gas, diversify electricity sources, including research and implementation of nuclear power development, focusing on developing clean electricity sources to contribute to combating climate change, green transformation, digital transformation and circular economy such as rooftop solar power, wind power, waste-to-energy...
For electricity, it is recommended to calculate appropriate electricity prices, close to the market and the country's situation, ensuring harmony of interests between parties, creating motivation and investment efficiency so that investors can participate.
The Prime Minister assigned the Ministry of Industry and Trade, the Ministry of Finance, the State Capital Management Committee at Enterprises, and the Vietnam Electricity Group to manage electricity prices based on their functions, tasks, and authority according to a suitable roadmap, without "jerking".
The electricity industry promotes cost savings, enhances digital transformation application, increases competitiveness, reduces costs... electricity prices must be suitable for the economy, with State regulation to stabilize the macro economy.
The Ministry of Industry and Trade shall preside over and coordinate with the State Capital Management Committee at Enterprises and the People's Committees of the provinces to direct specific plans to quickly deploy, complete and put into operation large-scale power source projects in the North such as:
Early implementation of Nghi Son - Thanh Hoa LNG plant projects (1,500 MW), Quynh Lap LNG - Nghe An (1,500 MW); strive to start construction in the second quarter of 2025 and complete energization in 2027 for projects with investors: Quang Ninh LNG (1,500 MW), Thai Binh LNG (1,500 MW); urgently complete the Hoa Binh Hydropower Plant Expansion Project (480MW), Quang Trach I (EVN- 1,403MW), Na Duong II (TKV-110MW)...
