AsemconnectVietnam - Vietnam Petroleum Power Corporation (PV Power, code POW - HOSE) has just announced its business situation in January 2024.

In January, PV Power's estimated revenue reached VND2,015.4 billion, completing 82% of the month's plan. Of these, the two plants with the largest contributions are Vung Ang 1 Power Plant contributing VND1,007 billion, Ca Mau 1&2 Power Plant contributing VND843.5 billion.
At Petrovietnam's recent conference with member units, Mr. Le Nhu Linh, General Director of PV Power said that the electricity mobilization situation in January of the plants was very low; the electricity output in January of PV Power reached about 1.2 billion kWh, mobilized during Tet only reached about 15% of the plants' capacity. Meanwhile, these factories must fulfill gas offtake obligations and must pay for gas in advance, affecting production and business efficiency.
POW added that January is the dry season in the North and South, the end of the rainy season and the beginning of the dry season in the Central region. The average FMP total market electricity price is expected to be about 1,450 VND/kWh.
Regarding the Nhon Trach 3 and 4 power plant investment project, PV Power said that up to now, the overall EPC progress of the project is estimated at about 65.6% compared to the plan of 75.1%, 9 months slow. .5% compared to plan. The company will continue to arrange capital, negotiate gas purchase contracts and electricity purchase contracts for the project according to schedule.
In February, POW has set a plan for electricity output to reach 1.15 billion kWh and revenue to reach VND2,156 billion.
N.Nga
Source: VITIC/Tinnhanhchungkhoan