Vietnam national power utility posts huge loss

TN News

Email Print

Electricity of Vietnam posted losses of VND6.5 trillion in the first seven months of the year because of surging production costs.

The greater pressure on power production this year forced EVN to operate diesel-run plants to ensure supply although the productions costs are three to four times higher than the average retail price, local news website VnExpress said Friday, citing a report by the Ministry of Industry and Trade.

The ministry said the power sector is expected to produce and purchase a total amount of 97,01 billion kilowatt-hours of electricity this year, or 4 billion kilowatt-hours higher than the original plan.

Vietnam plans to increase its power production capacity by 2,000 megawatts next year to meet the rising domestic demand.

More Business News