Thermal power accounts for 51 percent of the power structure, so costs increase when raw material prices escalate. (Photo: SGGP)
According to statistics, the input fuel prices of EVN in July and the first 20 days of August this year are much higher than the average price in the first six months of this year, especially coal prices.
Specifically, the average price of imported coal in July increased by 17.5 percent compared to that in June, an increase of 51.8 percent compared to the average price of the first six months of this year and 250 percent compared to that of 2020, as coal prices climbed from US$98.8 per ton in the first six months to $150 per ton in July, and $159.7 per ton in the first ten days of August.
The average high-sulfur fuel oil (HSFO) price in July also surged by 23 percent compared to that in the first six months of this year and 68.3 percent compared to that in 2020.
While according to the national electricity system operation data, the generation output of coal-fired and oil-fired thermal power currently accounts for 51 percent of the total output of all types of generation sources. Therefore, the rise in the prices of imported coal and global oil has been significantly affected the power purchasing cost of EVN for coal-fired power plants using imported coal and gas-fired power plants with market price of gas.
"Compared to the same period last year, EVN's electricity purchase cost this year will increase by up to VND16.6 trillion," EVN's announcement said that it is still hard to forecast fuel price movements in the last months of this year.
EVN announced that its financial situation is likely to be extremely difficult this year because fluctuations in input fuel prices in the first eight months of this year have caused EVN's power generation and purchasing costs to increase highly. Moreover, the hydrological situation of hydroelectric reservoirs in the North has not been favorable so far. Although it is now the end of August - the end of the main flood season - there is still no sign of floods in hydropower reservoirs.
Specifically, the average price of imported coal in July increased by 17.5 percent compared to that in June, an increase of 51.8 percent compared to the average price of the first six months of this year and 250 percent compared to that of 2020, as coal prices climbed from US$98.8 per ton in the first six months to $150 per ton in July, and $159.7 per ton in the first ten days of August.
The average high-sulfur fuel oil (HSFO) price in July also surged by 23 percent compared to that in the first six months of this year and 68.3 percent compared to that in 2020.
While according to the national electricity system operation data, the generation output of coal-fired and oil-fired thermal power currently accounts for 51 percent of the total output of all types of generation sources. Therefore, the rise in the prices of imported coal and global oil has been significantly affected the power purchasing cost of EVN for coal-fired power plants using imported coal and gas-fired power plants with market price of gas.
"Compared to the same period last year, EVN's electricity purchase cost this year will increase by up to VND16.6 trillion," EVN's announcement said that it is still hard to forecast fuel price movements in the last months of this year.
EVN announced that its financial situation is likely to be extremely difficult this year because fluctuations in input fuel prices in the first eight months of this year have caused EVN's power generation and purchasing costs to increase highly. Moreover, the hydrological situation of hydroelectric reservoirs in the North has not been favorable so far. Although it is now the end of August - the end of the main flood season - there is still no sign of floods in hydropower reservoirs.
