Power prices will be averaged at VND1,459 per kWh this year, up 7.2% from last year, said the Electricity of Vietnam Group (EVN).
EVN has to pay more for power purchases in competitive market
EVN Deputy General Director, Dinh Quang Tri, said at a meeting held on January 11 to review the group’s operations in 2012, that power price hikes are to follow changes in the markets and would also be used as capital for investment projects.
EVN plans to set aside around VND30.29 trillion (USD1.45 billion) from its revenues for debt payment this year, he said.
According to EVN’s Chairman, Hoang Quoc Vuong, the country’s power output totalled 117.59 billion kWh in 2012, up 10.41% from a year earlier.
Power sales reached 105.33 billion kWh during the year, up 11.28% on year.
Vuong assessed that it is necessary to work out specific measures to more efficiently use power in time to come.
EVN had saved 1.67 billion kWh from power consumption by applying several methods, which accounted for 1.5% of the total power output last year. The savings is equivalent to over VND5 trillion (USD239.6 million), he noted.
“Since we switched to a competitive power generation market on July 1, 2012, EVN has had to pay an additional VND300 billion (USD14.3 million) for power purchases due to higher power buying prices,” he revealed.
This year EVN pledges to ensure sufficient power supply to foster higher rates of economic growth.
The country’s total power output is expected to reach 130.53 billion kWh in 2013, up 11% from last year.
Power sales are estimated to be around 117 billion kWh, up 11.5% from the year before.
EVN will strive to lower the power leakage rate to 8%, thereby saving 1.5% off the total power consumption in 2013.
The group will also invest VND106 trillion (USD5.08 billion) in power projects during the year.
