20230203 Some stuff, with no sign of PDP8 approval.

Vietnam Electricity proposes retail price hike to cover $1.3bn loss.

The Vietnam Electricity Group (EVN) has just sent a petition to the Ministry of Industry and Trade proposing power price hike in 2023, citing rising costs and a loss of more than VND31.3 trillion (US$1.3 billion).

At the regular Government press conference on the afternoon of February 2, Deputy Minister of Industry and Trade Do Thang Hai said: The adjustment of electricity prices, the current mechanism to adjust the average retail price of electricity is implemented according to the provisions of Decision No. Decision No. 24/2017/QD-TTg dated June 30, 2017 of the Prime Minister.

There’s some concern regarding economic effect of the price, especially relation national competition.

Status quo of Vietnam wholesale market

The Electricity Regulatory Authority - Ministry of Industry and Trade informed that, by the end of December 2022, there are 108 power plants directly participating in offering in the competitive electricity market, with a total installed capacity of 30,837 MW, equal to about 38.8% of the total capacity of the national power system. The competitive nature in the electricity wholesale market of Vietnam has gradually expanded in scale.

Proposal to increase electricity transmission price

The Electricity of Vietnam (EVN) has just proposed to the Ministry of Industry and Trade to increase transmission electricity price by nearly 4% to VND 79.09/kWh compared to the approved level in 2022 for the National Power Transmission Corporation (EVNNPT). ) does not suffer a loss.

New year, new price (for solar rooftop)

Notice No. 148EVN-KD-TCKT, dated January 10, 2023 of EVN on the purchase price of electricity from rooftop solar power projects/systems in 2023 is as follows: 1/ For rooftop solar power projects with power generation operation date and meter readings confirmed before July 1, 2019: Electricity purchase price in 2023 is VND 2,207/kWh excluding value tax increased (equivalent to 9.35 UScents/kWh). 2/ For rooftop solar power systems with time to put into operation and generate electricity and confirm meter readings in the period from July 1, 2019 to December 31, 2020: Electricity purchase price in 2023 is 1,978 VND/kWh excluding value added tax (equivalent to 8.38 Uscents/kWh). The central exchange rate of Vietnam Dong against the US Dollar is 01 USD = 23,612 VND (Notice No. 659/TB-NHNN of the State Bank of Vietnam applied on December 31, 2022). In 2022, the purchase price of rooftop solar power announced by EVN is as follows: 1/ For rooftop solar power systems with commercial operation date from June 1, 2017 to June 30, 2019: EVN's solar power purchase price in 2022 is VND 2,164/kWh (in 2021 is 2,162 VND/kWh) excluding value added tax (equivalent to 9.35 UScents/kWh). 2/ For rooftop solar power systems with commercial operation date from July 1, 2019 to December 31, 2020: EVN's purchase price of solar power in 2022 is 1,939 VND/kWh (in 2021 it is 1,938 VND/kWh) excluding value added tax (equivalent to 8.38 Uscents/kWh).

Petrol prices increase, businesses pile up more worries?

The Environmental Protection Tax on petroleum products has increased again since the beginning of 2023, in addition, the retail price of petrol and oil in the country is applied according to the adjustment session on January 30 of the Inter-Ministry of Finance - Ministry of Industry and Trade. Love. Specifically, the price of RON 95-III gasoline increased by 993 VND/liter, to 23,147 VND. E5 RON 92 gasoline also added 977 VND, has a new price of 22,329 VND / liter. Oil commodities also increased in price. Each liter of diesel oil increased by 890 VND/liter, to 22,524 VND, kerosene was 22,576 VND (up 767 VND/liter) and fuel oil was 13,934 VND/kg, an increase of 568 VND/liter.

Electricity consumption during the Lunar New Year 2023 decrease by more than 30%

According to the National Load Dispatch Center (A0), during the Lunar New Year holiday, the highest power consumption capacity of the entire national power system on average is only about 24,300 MW per day. Electricity consumption across the country decreased by 30.3% compared to the week before Tet.