Next year’s electricity demand will increase by about 12-13%, so the Prime Minister requires the electricity industry to have specific solutions to avoid electricity shortages.
At the meeting of the Standing Government with ministries and branches on electricity supply on October 19, Prime Minister Pham Minh Chinh said that this year’s economic growth is set to reach over 7%. He affirmed that up to this point, the electricity supply for the whole year is guaranteed, although consumption will increase by about 11-13% compared to 2023.
Reports from ministries and branches show that by 2025, electricity demand will increase by about 12-13%, corresponding to the power source having to increase by 2,200-2,500 MW of capacity. “This is not a big problem,” the Prime Minister said, asking ministries and branches to have specific and decisive solutions to avoid electricity shortages by 2025.
Government leaders reiterated that in 2023, the overall power source will not be lacking, but operations will be limited, so local power shortages will occur at some times and in some places. This affects production, people’s lives, and reputation with investors.
According to him, 1% economic growth will lead to a 1.5% increase in electricity demand. At the same time, ensuring enough electricity is also important to attract FDI investment in the context of declining global investment. “With the growth target of the coming years, electricity demand will also increase by at least about 10%,” he said.
Prime Minister Pham Minh Chinh spoke at the meeting of the Standing Government on electricity supply, October 19. Image: VGP
To ensure sufficient electricity supply, the Prime Minister required relevant agencies to prepare early and from afar. Ministries and branches must soon effectively implement the Decree on direct electricity purchase and sale mechanism (DPPA) issued by the Government. At the same time, the Decree on mechanisms and policies to encourage the development of rooftop solar power must also be issued today.
According to the Prime Minister, fuel (coal, gas) must ensure electricity production. Accordingly, he requested to increase domestic coal exploitation in the long term, study coal import from Laos, and reduce from other sources.
The Prime Minister also mentioned measures to import electricity from Laos and China. Accordingly, the electricity industry must accelerate the completion of power transmission lines from the two countries, including the 500kV Lao Cai – Vinh Yen line and the 220kV Nam Sum – Nong Cong line.
The Ministry of Industry and Trade is assigned to continue completing the Electricity Law project (amended), submit it to the National Assembly at the 8th session and amend related circulars. The amendment is in the direction of strict control, but still creates space for development, innovation, increases decentralization, rights, eliminates asking for permission, and reduces administrative procedures for the electricity industry.
For the period 2026-2030, the Prime Minister requested the Ministry of Industry and Trade, the Committee for Management of State Capital at Enterprises, corporations and corporations to base their estimates on an increase in electricity demand of about 12-14% to build new projects. Power source and load scenarios. This is to ensure there is no shortage of electricity under any circumstances.
In particular, he noted diversifying and ensuring basic power sources, gradually shifting from coal power to clean energy production, implementing Vietnam’s commitments at COP26.
Along with that, Do Nam must soon form and develop the renewable energy industry, electricity storage systems, and offshore wind power projects.
Regarding hydropower, the Prime Minister requested to regulate reservoirs to harmonize irrigation needs and ensure electricity generation for the peak dry season in the North. Regarding gas and electricity, he requested to receive the first gas flow from the Lo B-O Mon gas project at the end of 2026. The electricity industry management agency will calculate appropriate gas and electricity prices according to the market and specific situation to harmonize. benefits between the State, businesses and people.
In addition, the Prime Minister also requested relevant agencies to research and develop nuclear power. Ministries and branches continue to perfect regulations and institutions and update and adjust electricity planning VIII.