After 8 months, EVN lost more than 28,000 billion VND

The State Capital Management Committee at Enterprises has just reported to the Ministry of Planning and Investment on the production, business and investment development situation of enterprises whose owners this agency represents.

Operational test at 500 kV West Hanoi substation. Illustration photo: VNA

In this report, the Committee said that the loss of Vietnam Electricity Group (EVN) in the first 6 months of 2023 was more than 35,400 billion VND. In the first 8 months of 2023, EVN's loss is expected to be more than 28,700 billion VND.

In 2022, EVN lost VND 26,500 billion, excluding exchange rate differences.

Thus, calculating the total loss in 2022 and the first 8 months of 2023, the parent company EVN has lost a total of about 55,000 billion VND.

The State Capital Management Committee said that EVN is focusing on three main tasks: Ensuring electricity supply; striving to balance finances; and implementing investment and construction plans.

Regarding electricity supply, EVN has proactively prepared solutions to ensure electricity from August to the end of 2023 and 2024.

Regarding difficulties in financial balance, EVN is focusing on implementing many internal solutions such as: optimizing costs, optimizing resource mobilization, cutting unnecessary costs to reduce financial difficulties...

Under the direction of the Prime Minister and Deputy Prime Ministers , EVN hopes to gradually balance its finances in the coming time.

According to a report from EVN, in 2023, EVN's construction investment plan is VND94,860 billion. With the loss in production and business results, the group cannot repay its debts on time; banks and credit institutions will have more difficulty in approving loans and loan limits for EVN.

In addition, the cost and interest rates on loans increase due to the assessment of the increased risk level for the lender.

Therefore, Vietnam Electricity Group proposed that the Vietnam Energy Association recommend the Government, the Prime Minister, ministries, branches and localities to find solutions to remove financial difficulties for EVN.

Specifically, EVN proposed to adjust retail electricity prices fully and promptly according to fluctuations in input parameters. Regarding the adjustment of average retail electricity prices, EVN proposed that the Government and ministries and branches allow to continue to adjust retail electricity prices soon in the coming time to ensure balanced production and business results.

According to VNA

Source: http://baodanang.vn/kinhte/202309/qua-8-thang-evn-lo-hon-28000-ty-dong-3956182/