Vietnam Electricity Industry

World’s electricity volume was constantly increasing over a period of time from 2009 to 2017 with compounded annual growth rate at 2.9%. However, in recent years, many countries have shifted strongly from fossil fuel energy to renewable energy. EVN still has a monopoly on the segments of regulation, electricity wholesaling, transmission and distribution or retailing.
The annually double growth of electricity supply was 10.3% in the period 2010-2017. Accumulated the first 9 months of 2018, the total volume of electricity supply reached 163.5 billion kWh, an increase of 10.53% over the same period in 2017.
The main sources of electricity are Hydroelectricity, Coal Thermoelectricity and Gas Thermoelectricity, accounting for 96.36% of the total power capacity in the first 6 months of 2018.
The proportion of imported electricity in total electricity supply in the country has remained constantly from 1.3% to 2% in the period 2015-2018. In 2018, imported electricity output is forecast to reach 2.79 billion kWh, accounting for 1.33% of total electricity supply.
Vietnam power demand has grown fast in the period from 2001 to 2017 with the estimated average growth of 11.3% per year and is forecast to continuously increase in the next 15 years. Electricity price in Vietnam is quite low compared to other countries in the Asia-Pacific region. Power generation is the only segment with the participation of corporate outside EVN due to the specific requirements of capital investment. Therefore, the competitive electricity market in Vietnam will also start the first phase of this segment. The growth rate in the period 2017 – 2020f is forecast to reach 10.7%, in the period 2021-2025f and 2025-2030f would be 9.7% and 8.7%, respectively.

Executive Summary
1. Business environment
1.1 Macroeconomic situation
1.2 Legal framework
2. Industry overview
2.1 Situation of global electricity industry
2.1.1. Demand and supply for electricity
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 Electricity generation
2.2.4 Electricity consumption
2.2.5 Electricity price
2.3 Issues in energy industries development
2.3.1 Existing
2.3.2 Challenges
2.4 Planning
3. Business analysis
3.1 Typical companies of electricity industry
3.2 Business performance indicators
3.3 Financial indicators
3.4 Payment indicators
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: World electricity production volume  , 2009-2017
Figure 7: Structure of worldelectricity  production,  2017e
Figure 8: Structure of  electricity supply according to resourse, 2016 – 2017
Figure 9: World’s top largest electricity producing countries, 2016 – 2017
Figure 10: Contribution structure of world electricity production, 2017
Figure 11: Electricity production volume in some countries, 2006 – 2017
Figure 12: Global electricity consumption, 2008-2017
Figure 13: Top 10 most electricity consuming countries,  2017
Figure 14: World electricity exports, 2010-2017e
Figure 15: Top largest electricity exporters, 2017
Figure 16: Total supply of electricity, 2010 – 9M/2018e
Figure 17: Structure of electricity, 2017
Figure 18: Proportion of electricity generation by supplier, 2017
Figure 19: Structure of electricity production by sources of materials 2012 – 6M/2018e
Figure 20: Import of electricity, 2010 – 2018f
Figure 21: Import of electricity, 2010 – 2018f
Figure 22: Import of electricity from China, 2010 – 2017e
Figure 23: Commercial electricity, 2012 – 9M/2018e
Figure 24: Electricity intensity by region in the world (kwh / USD)
Figure 25: Electricity consumption per capita of Vietnam, 2000-2017e
Figure 26: Commercial electricity, 2012-9M/2018e
Figure 27: Elastic electricity factor/GDP, 2010 – 9M/2018
Figure 28: Electricity outage, 2012 – 9M/2018
Figure 29: Average electricity purchase price of EVN, 1/2015 – 8/2018
Figure 30: Average electricity price, 7/2007 – 9/2018
Figure 31: Price of input material, 1/2014 – 07/2018
Figure 32: Structure of electricity production by primary energy source
Figure 33: Average per capita consumption of coal and CO₂
Figure 34: Levelized Cost of Electricity of techs per 1kWh, 2017-2025
Figure 35: Import value of electrical wires and cables, 2011 – 2017e
Figure 36: Net revenue, 2016-2017
Figure 37: Profit indicator, 2016-2017
Figure 38: Self-financing rate, 2016 – 2017
Figure 39: Financial cost, 2016 – 2017
Figure 40: Total asset, 2016-2017
Figure 41: Days of sales outstanding, 2017
Figure 42: Profit indicators, 2017
Figure 43: Day’s sales in inventory, 2017
Figure 44: Solvency, 2016-2017

Table 1: Power projects operation in 2018
Table 2: Commercial electricity according to the distribution companies (Million kWh), 2016 – 2018
Table 3: Electricity supply reliability criteria, 2017-2018
Table 4: Vietnam’s getting electricity indicator, 2013 – 2017
Table 5: Avoided cost tariff applied to small and medium-sized hydroelectric plants in 2018
Table 6: Average electricity wholesale price of EVN for other electricity corporations in 2018
Table 7: Electricity price in 6 degree (Draft 2)
Table 8: Electricity distribution and retail companies
Table 9: Electricity regulation and transmission companies
Table 10: Electricity generating enterprises