AsemconnectVietnam - The above information was said by Mr. Nguyen Dinh Thi, Head of Planning Department of PetroVietnam Power Corporation - PV Power (POW code - HOSE) at the Conference on preliminary review of production and business activities in the first 6 months of the year and implementing the plan for the last 6 months of 2023.

Mr. Nguyen Dinh Thi said that in the first 6 months of the year, PV Power's total electricity output reached 8,310 million kWh, reaching 107% of the plan. Total revenue of the Corporation is estimated at VND16,567 billion, equal to 112% of the plan.
According to POW, in the first 6 months of the year, a number of plants did not achieve the contracted power output (Qc) assigned due to many objective reasons. Hydroelectric power plants are in a state of water shortage, gas sources are also in short supply, Unit 1 at Vung Ang 1 Thermal Power Plant has a problem and especially PV Power's debt recovery from the Electricity Group Vietnam (EVN) is extremely difficult, up to now, the total amount of outstanding debt has been approximately VND13,000 billion.
In 2023, POW sets a plan based on the oil price option at 70 USD/barrel. Accordingly, POW sets a production target of 15.6 billion kWh, an increase of approximately 10% compared to 2022. Total revenue of the Corporation is expected to reach VND30,332 billion, up 5.3% compared to 2022. Thus, in the first half of the year, POW has completed approximately 55% of the annual revenue plan.
In the last 6 months of 2023, PV Power expects the electricity output target to be 7,838 million kWh, the total revenue of the Corporation is estimated at VND11,627 billion.
At the same time, the Corporation continued to carry out production and business activities such as meeting the demand for electricity mobilization; manage production, maintenance and repair of power plants to ensure high availability of equipment, maximum mobilization of capacity, safety and efficiency; continue to implement the procedures related to the projects: Nhon Trach 3 and Nhon Trach 4; LNG gas power plant, Luang Prabang.
Regarding the progress of the leveling package at Nhon Trach 3 and 4 Thermal Power Projects, POW is in the final settlement phase under the contract, reaching 180/205 billion, estimated value of the package is 235 billion. For the EPC package that is being implemented well, following the schedule, Nhon Trach 3 Power Plant is expected to generate commercial power in November 2024 and commercial power generation Nhon Trach 4 Power Plant around May 2025.
Mr. Le Nhu Linh, General Director of POW said, the task in the last 6 months of 2023 is extremely difficult; PV Power needs to focus and drastically implement the assigned tasks, ensuring the set goals.
For production and business work, Mr. Linh suggested that the leaders of the units cooperate with local leaders and the specialized boards of the Corporation; proactively propose initiatives, balance fuel sources, predict future risks... in order to strive for the highest power output, meeting the demand for electricity mobilization in the North.
For investment work, PV Power continues to solve problems and difficulties for Nhon Trach 3 and Nhon Trach 4 projects, office building purchase projects... and opens up new opportunities for PV Power. RECs are considered mission critical.
N.Nga
Source: VITIC/Tinnhanhchungkhoan