The Government Office has just issued Notice No. 500/TB-VPCP on the conclusion of the Government Standing Committee at the meeting on the implementation of important projects of Vietnam Electricity Group and Vietnam Oil and Gas Group to ensure electricity supply and energy security.

With an expected economic growth rate of 7% in 2025 and to ensure enough electricity for production, business and people's lives, electricity growth must reach 12-13%. According to the report, the total capacity needed to increase to meet demand is expected to be about 2,297 MW.

Therefore, with the operating experience in 2024, the Prime Minister requested that there must be no power shortage in 2025, in which, he proposed implementing solutions to ensure compensation for the total capacity shortage.

BINH DUONG ELECTRICITY_HOANG GIAM (44).jpg
The Prime Minister requested that there must be no power shortage until 2025. Photo: Hoang Giam

Specifically, the Prime Minister requested the effective implementation of Decree No. 80/2024/ND-CP dated July 3, 2024 of the Government regulating the mechanism for direct electricity purchase and sale between renewable energy power generation units and large electricity users.

The Ministry of Industry and Trade is studying to promote the purchase of electricity from Laos, agreeing with the buyer for the entire 5-year period and adjusting the import price of electricity accordingly. In addition, it is also considering the possibility of increasing the import of electricity from China to supplement the system if necessary.

The Ministry of Industry and Trade needs to conduct research to convert the base electricity from coal to gas, diversify electricity sources, including research and implementation of nuclear power development, focusing on developing clean electricity sources to contribute to combating climate change, green transformation, digital transformation and circular economy such as rooftop solar power, wind power, waste-to-energy...

For hydropower sources, it is necessary to coordinate with the Ministry of Agriculture and Rural Development to develop a plan to regulate water flow in a harmonious and scientific manner, ensuring irrigation but with the spirit of storing water for power generation in the dry season in the North.

For electricity, it is recommended to calculate appropriate electricity prices, close to the market and the country's situation, ensuring harmony of interests between parties, creating motivation and investment efficiency so that investors can participate.

The Ministry of Industry and Trade, the Ministry of Finance, the State Capital Management Committee at Enterprises, and the Vietnam Electricity Group, based on their functions, tasks, and authority, will manage electricity prices according to a suitable roadmap, without "jerking"; the electricity industry will promote cost savings, enhance digital transformation applications, increase competitiveness, reduce costs... electricity prices must be suitable for the economy, with State regulation to stabilize the macro-economy.