VIETNAM ELECTRICITY INDUSTRY

The global electricity consumption has increased continuously since 2009 with the growth rate reaching CAGR AT 2.9%. The electricity market in Vietnam is still exclusive when EVN is the only company that is able to buy and sell electricity. Three main power-generating sources are hydroelectric, coal thermoelectricity and electrothermal gas, which accounted for 96.8% of the total power capacity in the first nine months of 2018.

The proportion of imported electricity in the total electricity supply in the country held a stable level of about 1.3% -2% in the period from 2015 to 2018. In 2018, imported electricity output was forecasted at 1.33% in the proportion of total electricity supply. Power loss rate in 2018 reached 6.9%, 0.3% lower than the beginning of the year plan (7.2%) and 1 year ahead of the schedule of the 5-year plan assigned by the Government.

Vietnam’s energy demand increased rapidly between 2001 and 2018 with an average growth rate of 11.4% per year and was expected to continue to grow quite high in the next 10 years. According to the World Bank’s Doing Business 2019 Report, Vietnam’s electricity access index in 2018 increased by 37 places compared to 2017 ranking and stood at 27/190 countries and economies.

Electricity prices in Vietnam were quite low compared to other countries in the Asia-Pacific region. Electricity generation is the only segment with the participation of units outside EVN because it requires very large investment capital.

Executive Summary
1. Business environment
1.1 Macroeconomic situation
1.2 Legal framework
1.3 Free Trade Agreements
2. Industry overview
2.1 Situation of global electricity industry
2.1.1. Demand and supply for electricity
2.1.2 Development trend of global electricity industry
2.1.3 Price movement
2.1.4 Situation of electricity industry in some Southeast Asia countries
2.2 Situation of Vietnam electricity industry
2.2.1 History of Vietnam electricity industry
2.2.2 Value chain of the industry
2.2.3 Input fuel
2.2.4 Electricity generation
2.2.5 Transmission and distribution
2.2.6 Electricity consumption
2.2.7 Electricity price
2.2.8  Structure of electricity industry
2.3 Issues in energy industries development
2.3.1 Existing
2.3.2 Challenges
2.3.3 Risks
2.3.4 The trend of foreign investment
2.4 Planning and forecasting
2.4.1 Planning
2.4.2 Forecasting
3. Business analysis
3.1 Typical companies of electricity industry
3.2 Business performance indicators
3.3 Financial indicators
3.4 Payment indicators
4. Appendix
Southern Power Corporation – EVSNPC
Northern Power Corporation – EVNNPC
HCM city Power Corporation – EVNHCMC
Hanoi city Power Corporation – HNPC
Central VN Power Corporation – EVNCPC
Power Generation Corporation 3 – EVNGENCO3
Power Generation Corporation 1 – EVNGENCO1
Hai Phong Thermal Power Joint Stock Company
Pha Lai Thermal Power Joint Stock Company
Quang Ninh Thermal Power Joint Stock Company

Figure 1: GDP growth rate by quarter, 2015 – Q3/2018
Figure 2: Monthly CPI fluctuations, 2015-9/2018
Figure 3: FDI attraction by industry, 9T/2018
Figure 4: VND/USD exchange rates, 2013-9/2018
Figure 5: Contribution to electricity production and distribution in GDP, 2012 – 9M/2018e
Figure 6: Vietnam trade integration process from 1995 to present
Figure 7: World electricity production volume  , 2009-2017
Figure 8: Structure of world electricity production,  2017e
Figure 9: Structure of  electricity supply according to resourse, 2016 – 2017
Figure 10: World’s top largest electricity producing countries, 2016 – 2017
Figure 11: Contribution structure of world electricity production, 2017
Figure 12: Electricity production volume in some countries, 2006 – 2017
Figure 13: Global electricity consumption, 2008-2017
Figure 14: Top 10 most electricity consuming countries,  2017
Figure 15: World electricity exports, 2010-2017e
Figure 16: Top largest electricity exporters, 2017
Figure 17: World electricity consumption prospects by region, 1980 – 2030f
Figure 18: Eletric prrice of some conutries in the world, 2018f
Figure 19: Average price of electricity in the world, 2011 – 2040f
Figure 20: Demand for energy of some countries in Southeast Asia, 1990 – 2035f
Figure 21: Electricity consumption in ASEAN by sectors, 2010 – 2035f
Figure 22: Situation of primary energy supply, 2010 – 2015
Figure 23: Domestic energy exploitation from 2009 –  2015
Figure 24: Coal reserves by region, 2016f
Figure 25: Market segment of coal consumption, 2017
Figure 26: Increase in coal price for power generation, 2010 – 9M/2018
Figure 27: Forecast for supply and demand coal, 2015 – 2030
Figure 28: Market segment of natural gas consumption
Figure 29: Rate of selling price of gas for electricity sector by market price, 2014 – 2015
Figure 30: Potential and characteristics of wind electricity in 3 regions and by wind speed
Figure 31: Total supply of electricity, 2010 – 9M/2018e
Figure 32: Structure of electricity, 2017
Figure 33: Proportion of electricity generation by supplier, 2017
Figure 34: Structure of electricity production by sources of materials, 2012 – 6M/2018e
Figure 35: Import of electricity, 2010 – 2018f
Figure 36: Import of electricity from China, 2010 – 2017e
Figure 37: Power loss, 2010 – 9M/2018e
Figure 38: Rate of power losses in the supply chain, 2010 – 2017
Figure 39: Maximum load and electricity system availability *, 7/2015 – 8/2018
Figure 40: Peak load by time between two main seasons, 2017
Figure 41: Electricity intensity by region in the world (kwh / USD)
Figure 42: Electricity consumption per capita of Vietnam, 2000-2017e
Figure 43: Commercial electricity, 2012-9M/2018e
Figure 44: Elastic electricity factor/GDP, 2010 – 9M/2018
Figure 45: Electricity outage, 2012 – 9M/2018
Figure 46: Average electricity purchase price of EVN, 1/2015 – 8/2018
Figure 47: Average electricity price, 7/2007 – 9/2018
Figure 48: Price of input material, 1/2014 – 07/2018
Figure 49:  VGCM situation, 2012 – 2017
Figure 50: Operating map of VCGM
Figure 51: Structure of electricity production by primary energy source
Figure 52: Average per capita consumption of coal and CO₂
Figure 53: Levelized Cost of Electricity of techs per 1kWh, 2017-2025
Figure 54: Import value of electrical wires and cables, 2011 – 2017e
Figure 55: Demand – supply of electricity, 2010 – 2030f
Figure 56: Growth of renewable electricity capacity, 2016 – 2030f
Figure 57: Net revenue, 2016-2017
Figure 58: Profit indicator, 2016-2017
Figure 59: Financial cost, 2016 – 2017
Figure 60: Total asset, 2016-2017
Figure 61: Days of sales outstanding, 2017
Figure 62: Profit indicators, 2017
Figure 63: Day’s sales in inventory, 2017
Figure 64: Solvency, 2016-2017

Table 1: Electricity generation in Southeast Asia by energy sources, 2000 – 2040f
Table 2: Demand for primary energy in Southeast Asia, 2000 – 2040f
Table 3: Hydroelectricity potential in Vietnam
Table 4: Data on solar radiation in Vietnam
Table 5: Schedule for solar energy development in Vietnam to 2030 with a vision to 2050
Table 6: Planning potential of wind electricity in 5 provinces of Mekong river delta, 2020 – 2030
Table 7: Some wind electricity projects in Mekong river delta
Table 8: Geothermal potential of the regions
Table 9: Theoretical potential and technical potential of the tidal electric power
Table 10: Power projects operation in 2018
Table 11: Length of transmission grid and total capacity of distribution, 2011 – 2017
Table 12: Rate of power losses of some countries, 2011-2014
Table 13: Results of reduction of power losses in 2016 – Plan for 2018
Table 14: Commercial electricity according to the distribution companies (Million kWh), 2016 – 2018
Table 15: Electricity supply reliability criteria, 2017-2018
Table 16: Vietnam’s getting electricity indicator, 2013 – 2017
Table 17: Avoided cost tariff applied to small and medium-sized hydroelectric plants in 2018
Table 18: Average electricity wholesale price of EVN for other electricity corporations in 2018
Table 19: Electricity price in 6 degree (Draft 2)
Table 20: Some major projects from foreign investment capital are licensed , 9T/2018
Table 21: Electricity distribution and retail companies.
Table 22: Electricity regulation and transmission companies.
Table 23: Electricity generating enterprises