Difficulties in power supply timely resolved

Sufficient energy supplies for production and daily use

In 2023, the Ministry of Industry and Trade has provided advice, developed and submitted to the Prime Minister for the approval and promulgation of all 4 national master plans in the field of energy and minerals, including the Power Plan VIII, the Master plan on National energy, the Planning of the exploration, extraction, processing and use of minerals; and the draft plan on the reserve infrastructure and supply of petrol, oil and gas products.

The MoIT has implemented various solutions to ensure energy supplies for economic development and people’s daily use

This is extremely important for the development of the national energy, mining and mineral processing industries and the economy, meeting the requirements of socio-economic development and industrialization, modernization of the country.

To ensure energy supplies for economic development and daily use, the MoIT promptly issued many guiding documents to ensure stability of the coal market and adequate supply of coal and gas for electricity production and other industrial production needs. The electricity supply in 2023 was basically guaranteed and the load closely followed the 2023 plan approved by the ministry.

As for the electricity industry, the MoIT implemented seamless solutions to put into operation large power projects that play an important role in ensuring electricity supply, mobilizing maximum resources to ensure sufficient electricity supply for production and daily use, such as the Thai Binh 2 thermal power plant (1,200 MW), Van Phong 1 thermal power plant (generator 1 with a capacity of 716 MW), at the same time, ensuring investment and construction progress of key power grid projects, especially the 500kV circuit 3 power grid project extending from Quang Trach to Pho Noi. According to updated calculations, the total electricity output produced and imported for the entire system in 2023 was estimated to reach 280.1 billion kWh, a year-on-year increase of 4.6 percent, reaching 98.45 percent of the years’ plan.

Ready for important goals

In 2024, the MoIT targets the index of industrial production (IIP) to increase by about 7 - 8 percent; commercial electricity to reach about 280.1 billion kWh; electricity produced and imported throughout the system to reach about 306.3 - 309.7 billion kWh, an increase of 9.4 to 9.8 percent. To achieve the above goals, the ministry proposes specific solutions as follows.

As for the electricity industry, the ministry will coordinate with related ministries, sectors, and agencies to put into early operation many power grid projects in 2024, ensure progress of key power source and power grid projects, especially those releasing the capacity of renewable energy sources (wind and solar energies). In 2024, the MoIT will continue to provide directions and execution of its strategy to ensure that the electricity supplies will meet the needs of the economy.

Regarding the coal industry, the MoIT will continue to monitor and urge relevant units to implement the coal industry development strategy in the National energy master plan and other related approved schemes... In particular, it will regularly monitor and closely stick to coal supply for electricity production in 2024 to promptly report rising problems and provide advice to the ministry's leaders, and direct relevant units to develop specific scenarios for peak months of the dry season of 2024.