Chairing a meeting between permanent Cabinet members and officials from relevant ministries and agencies, the PM stressed that for every 1 percent increase in economic growth, electricity demand rises by 1.5 percent. As Vietnam aims for around 7 percent economic growth in 2024 and higher in subsequent years, electricity demand for production, business, and consumption is expected to grow by at least 10 percent.
Recalling electricity shortages in some areas last year, the leader underscored the importance of improving institutional frameworks, revising National Power Development Plan VIII, diversifying energy sources, and removing obstacles to key electricity projects.
According to the Vietnam Electricity (EVN), in the first nine months of 2024, the group ensured sufficient electricity supply for socio-economic development, with production and imports reaching 232.8 billion kWh, up nearly 11 percent from the previous year. It is also working on ten power projects with a total capacity of 6,793 MW, and has made progress on procedures for new projects under the national power plan.
In addition to the 500kV Circuit-3 power transmission line, it is accelerating key grid projects, including electricity imports from Laos.
In his concluding remarks, PM Pham Minh Chinh noted that the country’s electricity demand is expected to increase by around 2,200 MW by 2025, but with specific measures in place, no major shortages are anticipated.
In the long term, he said, with electricity demand rising by 12-15 percent annually, ministries and sectors need to proactively implement measures to ensure sufficient power supply for both production and consumption from 2026 to 2030.
PM Pham Minh Chinh called for the urgent implementation of the decree on direct electricity trading and the prompt submission of a decree on self-produced, self-consumed electricity and rooftop solar energy for approval. These measures aim to promote clean energy development and foster the renewable energy industry.
The leader asked relevant ministries and agencies to quickly consolidate institutions and legal regulations, update National Power Development Plan VIII, and strive to transition from coal-fired power to clean energy in line with Vietnam's COP26 commitments.
The PM said ministries must draft scenarios and implement solutions to prevent electricity shortages under any circumstances.
