- EVN’S NEW ELECTRICITY PRICE
On May 4, 2023 the Ministry of Trade (“MOIT”) issued Decision 1062, approving EVN’s new electricity prices. As from May 4, 2023 the price at which EVN has sold electricity to customers has ranged from VND940[1] to VND4,724 per kWh[2]. The average electricity price of EVN is VND1,920 per kWh (an increase of 3%). The increase in the electricity price is intended to help EVN to improve its cashflow and financial situation.
- ENERGY PROJECTS IN CAMAU PROVINCE
As there is no list of renewable energy (“RE”) projects in the National Master Plan for Power Development (“PDP8”), it is unclear whether a potential RE project in a province/city is included in PDP8. To address this uncertainty, the People’s Committee of Ca Mau Province (“PC”) has recently issued a letter, seeking MOIT’s endorsement for energy projects in its Province which will be developed during 2023-2030. According to the PC’s letter (Letter no 4201), the PC has requested the MOIT to include 37 RE projects and one LNG power project in PDP8: (i) 34 wind power projects (13,068 MW); (ii) two biomass projects (48 MW); (iii) three waste-to-energy projects (16MW); and (iv) one LNG power plant (1,500 MW). The particular RE projects can be found in the PC’s Letter no. 4201.
In addition, the PC has also proposed to develop other wind and solar power projects (with capacity of 16,000MW) which are not connected to EVN’s grid, and which generate power for export and for the production of hydrogen.
- AUCTION OF HYDROPOWER PLANT IN DAKLAK PROVINCE
It was reported that BIDV Bank will enforce secured assets of Dak Psi Hydropower Plant (18MW) in Kon Tum Province in order to recover an outstanding debt of VND1,000 billion. The enforcement will be conducted in the form of an auction. The starting price is VND914 billion.
For further information, please contact:
Nguyen Huu Hoai, Partner, Russin & Vecchi
NHHoai@russinvecchi.com.vn
[1] US$1=VND23,300.
[2] VAT is additional.
