AsemconnectVietnam - EVNGENCO3 started 2026 with positive business results, with both production and revenue growing compared to the same period last year, with the Phu My Thermal Power Plant continuing to play a key driving role.

Electricity production revenue in the first month of the year reached VND3,267 billion.
In January 2026, Power Generation Corporation 3 – JSC (EVNGENCO3, ticker PGV - HoSE) achieved an electricity output of 2.372 billion kWh, an increase of 16.29% compared to the same period in 2025 and completing 7.45% of the annual plan. Of this, the parent company alone contributed 2.028 billion kWh, an increase of 14.27%. The power plants operated safely and met the national power system's mobilization requirements well amidst high load demand.
Specifically, Phu My Thermal Power Plant recorded a 64.72% increase in output compared to the same period last year, the highest growth rate among member units. In addition, Mong Duong Thermal Power Plant increased by 14.6%, Vinh Tan Solar Power Plant increased by 25.2%, while Buon Kuop Hydropower Plant maintained stable output.
Along with output growth, Phu My Thermal Power Plant also led revenue growth. Specifically, the Phu My Thermal Power Plant cluster contributed VND1,255 billion, an increase of 42.52% and accounting for 44.2% of the parent company's total electricity production revenue. The remaining units included Vinh Tan (26.3%), Mong Duong (24.1%), and Buon Kuop Hydropower Plant (5.4%).
As a result, EVNGENCO3's electricity production revenue in January 2026 reached VND3,267 billion, an increase of 9.51% compared to the same period last year.
While revenue expanded, the input fuel situation also remained stable. The average gas payment price at Phu My plants in January 2026 was $8.64/mmBTU, slightly higher than the same period last year. Domestic gas supply in the Southeast region reached 8.8 million m³/day; of which Phu My consumed approximately 3.7 million m³/day. The plants did not use LNG.
Focus on ensuring electricity supply during the beginning of the year
According to the plan, in February 2026, EVNGENCO3 aims for a production of 2.449 billion kWh, including 2.244 billion kWh from the parent company and 205 million kWh from its subsidiary companies. The corporation is focusing on developing and implementing plans to ensure electricity supply during the Lunar New Year holiday of the Year of the Horse 2026.
At the same time, EVNGENCO3 continues to implement repair contracts for the Vinh Tan 4 Thermal Power Plant, accelerate investment procedures, and promote investment cooperation to develop new power sources such as expanded hydropower projects, solar power, LNG gas power, and flexible power.
At the 2025 year-end review conference, EVNGENCO3 set a target of 31.014 billion kWh for 2026. The focus of investment includes the Ninh Binh Flexible Power Plant, the Long Son LNG Power Plant, floating solar power projects on Srepok 3 and Buon Kuop lakes, and the expanded Srepok 3 Hydropower project. EVNGENCO3 is developing a restructuring plan for the 2026-2030 period through a capital increase through the issuance of shares.
N.Nga
Source: VITIC/Tinnhanhchungkhoan