AsemconnectVietnam - Vietnam Petroleum Power Corporation - PV Power (code POW - HOSE) has just announced estimated business results for May and the first 5 months of 2024.

In May, the total electricity output of POW's plants reached 1,766.3 million kWh; Total revenue is estimated at 3,353 billion VND, flat compared to last year's performance.
Accumulated in the first 5 months of the year, total POW electricity output reached 7,024 million kWh; Total revenue is estimated at VND12,753.4 billion, down more than 7% compared to 2023.
Assessing the situation in May, POW said that the weather continued to be extremely hot throughout the country. Reservoirs in the North and South are in a cycle of gradually reducing dead water levels to welcome floods in 2024, while reservoirs in the Central region are at relatively high water levels, meeting operating needs during the hot season. The average full market electricity price (FMP) in May is expected to be about 1,600 VND/kWh (by May 2023 it will be about 1,960 VND/kWh).
Ca Mau 1&2 factory was assigned QC of 432.8 million kWh, an increase of 38.2 million kWh compared to the beginning of the year. The actual gas supply capacity of PV Gas currently meets operating requirements. The plant offers operating prices with the goal of maximizing output and efficiency, at times when full market electricity prices are lower than variable gas costs.
Vung Ang 1 Factory was assigned 482.3 million kWh. With an average full market price higher than the coal fuel conversion cost, Vung Ang 1 offers operating prices with the goal of maximizing output to achieve optimal efficiency.
Nhon Trach 1 factory was not assigned Qc. However, at the end of the month, NT1 had 2 power units mobilized, so the factory exceeded its planned output.
Nhon Trach 2 Factory was assigned 226.3 million kWh. With high market prices, Nhon Trach 2 offers operating prices with the goal of maximizing output and efficiency.
At Hua Na factory, May is the end of the dry season, the reservoir is at low water level and gradually regulates to dead water level. The factory offers an operating price that optimally balances profits and conserves water for the hot season operating period at high market prices.
Meanwhile at the Dakdrinh plant, with high market prices, the water level of the power plant's reservoir is meeting operating needs, Dakdrinh balanced and offered the maximum operating price for output, however the mobilized output was not high.
For the Nhon Trach 3&4 project, the latest information is that PV Power signed a land lease contract with Tin Nghia Corporation on May 27, 2024 for an area of 30.8 hectares, and has been approved by the Department of Natural Resources - Environment issued a red book on May 29, 2024.
Regarding the June business plan, PV Power targets total output of more than 1.55 billion kWh and revenue of VND2,934 billion.
On the stock market, in the morning trading session of June 11, POW is increasing 1.1% to 13,800 VND/share and marks an increase of 7.8% since the beginning of June until now.
N.Nga
Source: VITIC/Tinnhanhchungkhoan