AsemconnectVietnam - PetroVietnam Power Corporation - JSC (PV Power, code POW - HOSE) has just announced its business situation in November and accumulated revenue in 11 months of 2024 with revenue reaching about 86% of the yearly plan.

In November, the total electricity output of PV Power's power plants is estimated at about 1,597 million kWh and the total revenue of PV Power is about VND2,916 billion.
In 11 months, the total electricity output of PV Power's plants is about 14,294 million kWh, accordingly, the revenue is estimated at VND27,309 billion, achieving about 86% of the annual revenue target (VND31,736 billion).
POW said that November is the beginning of the dry season in the North, North Central and South regions, and the rainy season in the South Central region. In the first half of November, the average FMP price was about 1,420 VND/kWh, in the second half of the month, the FMP price increased, reaching the market ceiling at many times. The average FMP price in November is expected to be about 1,580 VND/kWh.
Regarding the production situation of power plants, Ca Mau 1&2 Power Plants were assigned Qc 454.5 million kWh. Ca Mau 1&2 Power Plants balanced the operating price to ensure the assigned Qc, and increased production at times when the market price was high.
Vung Ang 1 Power Plant was assigned Qc 429.4 million kWh. The average FMP market price was higher than the variable cost; Vung Ang 1 Power Plant offered a high operating price, exceeding the assigned production plan.
Meanwhile, Nhon Trach 1 Power Plant was not assigned Qc, (Qc = 0), but was only mobilized by A0 to operate when there was a local shortage of resources with very low output. Nhon Trach 2 Power Plant was assigned Qc of only 165.5 million kWh. Nhon Trach 2 Power Plant offered an operating price that closely followed Qc and considered operating at times when market prices were high to optimize efficiency.
Hua Na Power Plant was assigned Qc of 51.8 million kWh. Hua Na Power Plant's reservoir has accumulated water to the normal water level at the end of the flood season, the plant has balanced the price offered to operate the output effectively and accumulate water for the 2025 operation year.
For Dakdrinh Power Plant, November is also the rainy season in the plant's reservoir area. However, the 2024 flood season came late, the reservoir water level at the beginning of the month only reached +389m/MNC +375m, while the assigned Qc was up to 75.1 million kWh. Dakdrinh Plant has tried to maximize output to meet Qc in the context of high FMP market prices.
Regarding the progress of investment projects, by November, the overall progress of the EPC package for Nhon Trach 3 and 4 power plants (investment capital of USD1.4 billion) reached about 95%. The Company will continue to deploy capital arrangement and negotiate gas purchase contracts for the project on schedule.
In the last month of 2024, POW plans to reach 1.52 billion kWh of electricity output and a revenue target of VND2,854 billion.
N.Nga
Source: VITIC/Tinnhanhchungkhoan