Prime Minister Phạm Minh Chính chairs the meeting on power supply on Saturday. — VNA/VNS Photo

HÀ NỘI — Prime Minister Phạm Minh Chính on October 19 emphasised the need for early preparations to ensure a stable and efficient electricity supply and national energy security, as Việt Nam is advancing its industrialisation and modernisation efforts.

Chairing a meeting between permanent Cabinet members and officials from relevant ministries and agencies, the PM stressed that for every 1 per cent increase in economic growth, electricity demand rises by 1.5 per cent. As Việt Nam aims for around 7 per cent economic growth in 2024 and higher in subsequent years, electricity demand for production, business, and consumption is expected to grow by at least 10 per cent.

Recalling electricity shortages in some areas last year, the leader underscored the importance of improving institutional frameworks, revising National Power Development Plan VIII, diversifying energy sources, and removing obstacles to key electricity projects.

According to the Vietnam Electricity (EVN), in the first nine months of 2024, the group ensured sufficient electricity supply for socio-economic development, with production and imports reaching 232.8 billion kWh, up nearly 11 per cent from the previous year. It is also working on 10 power projects with a total capacity of 6,793MW, and has made progress on procedures for new projects under the national power plan.

In addition to the 500kV Circuit-3 power transmission line, it is accelerating key grid projects, including electricity imports from Laos.

In his concluding remarks, PM Chính noted that the country’s electricity demand is expected to increase by around 2,200MW by 2025, but with specific measures in place, no major shortages are anticipated.

In the long term, he said, with electricity demand rising by 12-15 per cent annually, ministries and sectors need to proactively implement measures to ensure sufficient power supply for both production and consumption from 2026 to 2030.

Chính called for the urgent implementation of the decree on direct electricity trading and the prompt submission of a decree on self-produced, self-consumed electricity and rooftop solar energy for approval. These measures aim to promote clean energy development and foster the renewable energy industry.

The leader asked relevant ministries and agencies to quickly consolidate institutions and legal regulations, update National Power Development Plan VIII, and strive to transition from coal-fired power to clean energy in line with Việt Nam's COP26 commitments.

The PM said ministries must draft scenarios and implement solutions to prevent electricity shortages under any circumstances.

Regarding hydropower, PM Chính requested that reservoirs be regulated in a balanced manner between irrigation needs and ensuring power generation during the peak of the dry season in the northern region.

For gas-fired electricity, the Government leader instructed that the first gas flow from the Block B-Ô Môn gas project must be received by the end of 2026. He also stressed the need to calculate gas electricity prices in accordance with market conditions and specific circumstances, ensuring "harmonised benefits and shared risks," balancing the interests of the government, businesses, and the public.

He also requested that relevant agencies study the development of nuclear power, continue refining regulations and institutions, and update and adjust Power Plan VIII.— VNS