The approval of National Power Development Plan VIII (Plan VIII) on May 15 has won loud applause from experts.

The objective of the PDP8 is to develop renewable energy sources for electricity generation to cover 67.7-71.5 per cent of the total by 2050.

Many hydroelectric reservoirs are experiencing critically low water levels while the hot summer season has just begun. The power sector has urgently suggested measures to cut down and save electricity during the challenging summer of 2023.

The plan needs US$134.7 billion of funding to develop new power plants and power grids between 2021 and 2030.

The Ministry of Industry and Trade (MoIT) plans to develop and propose policies for implementing the new power development pilot scheme, Power Development Plan VIII (PDP8), after obtaining the prime minister's request no later than mid-May.

Vietnam’s energy transition is facing challenges, especially as the transition is expected to ensure energy security, power supply, and reasonable costs.

The country’s Power Development Plan VIII is now roughly three years behind schedule and way off the prime minister’s demand that “preparation must be one step ahead” because of disparities in solar power statistics.

The Power Development Plan VIII is very important and complex, so the Ministry of Industry and Trade needs to complete and meet the requirements soon, urged Deputy Prime Minister Tran Hong Ha.

Minister of Industry and Trade Nguyen Hong Dien emphasised that energy development is a strategic task that serves as the foundation for socio-economic development.

Electricity of Vietnam (EVN) fears that the electricity imports from Laos may face difficulties because of the limited capacity of the transmission system.