The Importance of the Electricity Industry: The electricity industry is a key infrastructure sector, playing a crucial role in driving economic growth, ensuring national security, and improving the quality of life. “With the motto ‘electricity takes one step ahead,’ stable development of the electricity sector contributes to ensuring people’s livelihoods, promoting economic growth, and maintaining national defense and security.”

The Current State of Vietnam’s Electricity Industry: Electricity system scale:The total power generation capacity reached 80,555 MW by the end of 2023, an increase of approximately 2,800 MW compared to 2022. EVN (Vietnam Electricity) and its subsidiaries own only 37.2% of the system’s capacity (29,966 MW), reflecting the involvement of various economic entities.

Capacity structure: Renewable energy (wind and solar power): 21,664 MW (26.9%), Hydropower: 22,872 MW (28.4%), Coal-fired power: 26,757 MW (33.2%), Gas-fired power: 7,160 MW (8.9%)

Electricity production: The total electricity production and imports in 2023 amounted to 280.6 billion kWh, a 4.56% increase compared to 2022.

Production structure: Hydropower: 80.9 billion kWh (29%), a decrease of 15 billion kWh compared to 2022. Coal-fired power: 129.5 billion kWh (46%), an increase of 25 billion kWh compared to 2022. Renewable energy: 38 billion kWh (13.6%), nearly 2 billion kWh higher than in 2022.