From the beginning of 2023 until now, EVN has continuously sent reports on the “critical state of power supply” to the Ministry of Industry and Trade, warning that the Northern power system will face a situation of not being able to meet the peak load in May and June with the largest capacity shortfall estimated at around 1,600-4,900 MW.
Delayed addition of new, stable power
The current situation of power shortage is influenced by many factors such as:
- Hydroelectricity is currently the cheapest source with an average price of 1,100-1,200 VND/kWh. However, water levels in hydroelectric plants are at an alarming level due to prolonged drought on a large scale.
- The reduction in coal-fired power due to the commitment to net zero emissions by 2050.
- The stalling of EVN’s invested gas-fired power projects due to complicated procedures.
- The slowdown in wind and solar power projects due to no official electricity price.
In that context, objectively and fairly, the explosion of wind power and solar power in recent years has supported additional supply for the system when coal power is behind schedule. This contributes to reducing the risk of power shortages in the years 2018-2019.
Need to promote the electricity market