Will electricity prices in 2017 not cause public outrage?

Leaders of the Ministry of Industry and Trade predict that 2017 will not see any "controversy" regarding electricity prices that would cause public outrage.

According to Mr. Ngo Son Hai, Deputy General Director of Vietnam Electricity Group (EVN), EVN planned for 2016 with a total electricity production and purchase volume of 175.9 billion kWh.

Of this total, electricity production was 81.6 billion kWh, purchased electricity was 94.27 billion kWh, and commercial electricity was 19.1 billion kWh. As of October 2016, the total power capacity of the electricity sector reached 40,823 MW. Currently, the electricity sector is still actively accumulating water in hydropower reservoirs; however, due to weather conditions, some reservoirs have not reached the required water levels.

In 2016, the electricity sector did not have to adjust electricity prices. (Illustrative image: KT)

In its 2017 plan, EVN anticipated a water shortage at the beginning of the year, but expected to ensure sufficient water supply by mid-year. EVN directed its subsidiaries to strengthen power generation systems; promote the use of renewable energy sources and build solar power plants. Simultaneously, it emphasized strengthening the power grid system, preparing human resources and other resources to proactively respond to incidents; and widely disseminating information about electricity conservation within the community.

According to Deputy Minister of Industry and Trade Hoang Quoc Vuong, 2016 witnessed the efforts of the entire system, contributing to ensuring stable electricity supply for the whole country, serving production and daily life, national development, and ensuring national energy security.

Notably, in 2016, the electricity sector did not have to adjust electricity prices, nor did it face any public outcry regarding electricity prices. The Deputy Minister also predicted that 2017 would not be a "noisy" year regarding electricity prices.

However, Deputy Minister Hoang Quoc Vuong also requested that units throughout the system pay attention to maintaining power plants and ensuring safe electricity supply, as 2016 still saw many incidents, some of which were serious. The Deputy Minister emphasized that while sufficient electricity supply is important, ensuring safety is even more crucial to prevent unfortunate incidents from occurring in all circumstances.

The Deputy Minister requested the Vietnam Oil and Gas Group to ensure sufficient gas supply for electricity production. Maintenance and repair of gas supply plants need to be accelerated and shortened to ensure timely supply. The Vietnam Coal and Mineral Industry Group and the Northeast Corporation should supply enough coal for 22 power plants according to contracts.

Corporations, general companies, and units under the Ministry need to develop plans, review hydropower plant operation procedures, and consider the responsibilities of localities when operating flood releases, given the forecast that the 2017 dry season will pass quickly and the rainy season will bring many hydrological problems to address.

Deputy Minister Hoang Quoc Vuong added that the Prime Minister has directed increased coordination and cooperation with Laos in electricity supply. After agreeing on electricity prices with Laos, if the price is lower than the cost of domestic electricity production, Vietnam will proceed with importing electricity from Laos.

According to VOV