AsemconnectVietnam - In August 2024, POW's total electricity sales revenue reached VND1,796 billion, unchanged from the same period. Accumulated in the first 8 months of 2024, revenue is estimated at VND19,954.4 billion, a slight increase of 0.2%, driven by Ca Mau 1&2; Vung Ang 1 and Nhon Trach 2 plants.

Vietnam Oil and Gas Power Corporation - PV Power (code POW) has just announced its business results in August, the company produced 966.3 million kWh of electricity, an increase of 57.9% over the same period last year and total electricity sales revenue reached VND1,796 billion, unchanged from the same period.
The 3 factories that contributed the most revenue to POW in August were: Ca Mau 1&2 factories contributed VND560.2 billion; Vung Ang 1 factory brought in VND356.1 billion and Nhon Trach 2 factory reached VND702.2 billion.
POW said that August is the rainy season in the Northern, North Central and Southern regions; the heat continues to occur with the average temperature across the country generally being 0.5 - 1.0 ̊C higher than the average of many years with not too severe intensity.
Due to the influence of hot weather and low Qc of thermal power plants, the market price gradually increased, especially at the end of the month, often reaching the ceiling. The average total market price (FMP) in August was about VND1,495/kWh.
In the first 8 months of 2024, PV Power recorded a total electricity output of 10,380.8 million kWh, up 1.6% over the same period last year. Total revenue is estimated at VND19,954.4 billion, up slightly by 0.2% over the same period last year.
In terms of revenue structure, Ca Mau 1&2 power plants reached VND7,705 billion, accounting for 38.61% of total revenue; Vung Ang 1 power plant reached VND7,561 billion, accounting for 37.89%; Nhon Trach 2 power plant reached VND3,620 billion, accounting for 18.14%; the remaining 5.35% came from other plants.
Regarding the Nhon Trach 3&4 power plant project, PV Power signed a land lease contract with Tin Nghia Corporation on May 27 for an area of 30.8 hectares and received the land use right certificate from the Department of Natural Resources and Environment on May 29. For the area of about 6.4 hectares, the land lease contract was sent to Tin Nghia Corporation on August 20. As of the end of August, the overall progress of the EPC package was estimated at 87%, compared to the expected plan of 92%. PV Power continues to arrange capital and negotiate gas and electricity purchase and sale contracts on schedule.
Regarding the plan for September, PV Power set a target of output of 1.16 billion kWh and corresponding revenue of VND2,193 billion.
N.Nga
Source: VITIC/Tinnhanhchungkhoan