Building a competitive retail electricity market, where Electricity of Vietnam (EVN) is no longer the only buyer and seller, is the path that Vietnam has to choose. However, there are still challenges ahead.

Water flows have dropped to the point that 11 hydropower plants have to stop generating to ensure safety, causing a shortage of about 5,000MW in the north.

The newly approved Power Development Plan VIII could open up new space for the country to realise its green path and eliminate bottlenecks in deploying renewable energy.

Prime Minister Pham Minh Chinh has instructed the Ministry of Trade and Industry to establish a team to inspect the electricity supply of Vietnam Electricity Group (EVN) from 2021 to June of this year.

Prime Minister Pham Minh Chinh has ordered drastic measures to ensure electricity supply in this dry season and the coming time.

Minister of Industry and Trade Nguyen Hong Dien says Vietnam imports electricity from China and Laos, but the import volume is small, and is mostly provided to border areas.

Investors in 65 out of the total 85 renewable energy transition projects, with a combined capacity of 3,640 MW, have written to Vietnam Electricity Group (EVN) proposing pricing negotiations before purchase agreements are reached.

The power supply in the dry season this year is predicted to be challenging due to the significant rise in electricity demand.

Production businesses and people are likely to suffer from more power cuts amid the northern and central regions set to endure more scorching heat waves over the summer.

Vietnam targets that by 2050, coal will have no longer been used for power generation but biomass and ammoniac instead. Coal-fired power plants aged over 40 years will be closed if they are unable to switch to other fuels.

The National Power Development Plan VIII, which has been recently approved by the Prime Minister, aims to ensure national energy security, thus satisfying the country's socio-economic requirements in the time ahead.

The newly approved Power Development Plan for this decade heads up a charge to adhere to Vietnam’s strong commitments to net-zero, but there is still an enormous amount of work to be done.

The volume of electricity imports is small, mostly from China and Laos, according to the Ministry of Industry and Trade (MOIT).

Electricity imports from Laos and China accounted for just a modest part of the total electricity demand of Vietnam, Deputy Minister of Industry and Trade Dang Hoang An.

Many NA deputies raised the question of why Vietnam has to import electricity from Laos and China while 4,600 MWs of renewable energy are wasted and not allowed to connect to the national power grid.

While renewable energy sources are currently in surplus, the national power system in 2023 is at risk of experiencing electricity shortages due to extreme weather conditions and many hydropower plants reaching dangerously low water levels.

The newly approved Power Development Plan VIII for 2021-2030, with a vision to 2050, is designed to improve the country’s energy security and set out a roadmap for developing energy sources towards a green path.

The Vietnam Electricity Group (EVN) is negotiating to purchase more electricity from China and Laos, according to EVN General Director Tran Dinh Nhan.

Electricity of Vietnam (EVN) has repeatedly warned of electricity shortages, saying that hydropower reservoirs are exhausted.

Electricity of Vietnam (EVN) has repeatedly warned about possible electricity blackouts this summer because of expected large-scale drought. If so, alternate power cuts could prove to be unavoidable.