Thursday, February 6, 2025 12:03:17 AM - Markets closed
VN-INDEX 1,269.61 +4.93/+0.39%
HNX-INDEX 227.98 +1.37/+0.60%
UPCOM-INDEX 95.90 +0.59/+0.62%
EVN proposes to prioritise coal supply for power production
Vietnam News - 5/11/2023 4:13:37 PM
 (0 ratings. You must sign in to rate.)
The Electricity of Vietnam (EVN) has proposed the Việt Nam National Coal and Mineral Industries Group (Vinacomin) and the Northeast Corporation to ensure coal supply for power production in the coming summer months.
 
EVN has also proposed those two coal suppliers reduce coal supply for other sectors and to increase the amount of coal supplied for power production in the second quarter of 2023. Other sectors will be compensated in the last months of the year. 
 
At the same time, it is recommended that these partners share financial difficulties by considering reducing coal fuel prices for EVN's power production activities.
 
According to the plan, in the three months of May, June and July, the mobilised output of coal-fired power plants is expected to remain high.
 
The total expected output of EVN's anthracite-using thermal power plants in these three months will be 14.77 billion kWh, corresponding to the coal demand of 7.17 million tonnes. 
 
However, the total coal supply under the contracts signed between EVN with TKV and Northeast Corporation is only 6.59 million tonnes.
 
EVN said that although it has just entered the peak period of the dry season, the power supply to the system is already difficult. Hydrological developments are not favourable because the water in hydroelectric reservoirs is lower than planned. 
 
To ensure power supply, EVN has had to mobilise maximum power supply, including power from plants having high-priced production due to the use of diesel and fuel oil.
 
According to EVN, its power generation companies have signed a coal purchasing contract for power production in 2023 with TKV and the Northeast Corporation. 
 
The total volume of coal is 17.98 million tonnes under contract with TKV and 7.05 million tonnes with Northeastern Corporation 7.05 million tonnes. Most are imported coal.
 
According to EVN Deputy General Director Ngô Sơn Hải, the coal supply in the first quarter of 2023 met the volume under the contract. However, it is still lower than the power system's actual requirements.
 
EVN said that the efforts of TKV and Northeast Corporation to supply coal have made an important contribution to EVN's production and supply of electricity for economic development and serving people's lives.
 
However, total electricity production from coal in the first four months of 2023 reached 40.06 billion kWh, lower than the plan for electricity supply and operation of the national power system in 2023 issued by the Ministry of Industry and Trade.
 
Đỗ Mạnh Khảm, general director of Northeast Corporation, said the Corporation is always to ensure coal supply for power generation. However, the corporation has also faced many difficulties in mining, so it has not increased coal output.
 
Meanwhile, Đặng Thanh Hải, Vinacomin's general director, said that Vinacomin would make efforts to ensure the supply of coal for power production. 
 
At the same time, he has expressed that the two sides would continue to exchange information on production and business situations regularly and promptly remove difficulties in implementing business cooperation.
 
EVN General Director Trần Đình Nhân hopes that in the dry season months of 2023, Vinacomin and Northeast Corporation will ensure enough coal supply for electricity production to serve the country's economic development and people's daily life.
 
Nhân also hopes that the parties will continue to closely coordinate, and increase exchange to constantly improve cooperation efficiency towards the goal of ensuring national energy security. VNS
 
Read original article here
Newer News
05/02 Investment opportunities seen in rubber, steel industries in 2025
05/02 Chinese carmakers to build automobile plants in Thái Bình
05/02 Vietnam's port firms thrive in 2024
05/02 Used car market to face significant challenges in 2025: experts
05/02 Vietnam has six billionaires in Forbes’ latest global rich list
05/02 Digital banking services in Vietnam make remarkable stride
04/02 Software exporter looks to new pace of growth
04/02 Vietnam’s technology start-up funding drops 38 per cent last year
04/02 Institutional reform is crucial to promoting business development
04/02 Vietnam's exports to EU see impressive recovery in 2024
Older News
09/05 Disbursement of public investment capital slows in 4 months of 2023
09/05 Ministry urges assessment over proposal to lift the ceiling prices of air tickets
04/05 Việt Nam promotes supporting industry to participate in large supply chains
02/05 Vietnam sees improvements in FDI attraction: investor
30/04 US extends tax evasion investigation conclusion on Vietnamese stainless steel wires
27/04 Inflation, recovery and digitalisation key areas of focus: OECD
25/04 Franchising: 'manage' or let the market decide?
24/04 Experts recommend expanding borrowers of US$5.11 billion credit package
20/04 Việt Nam needs supports for foreign businesses when applying global minimum tax
17/04 HCM City business group suggests economic pump-priming measures
 
Newsletter Signup
Top Stories
Market cautious as liquidity drops significantly
VCCI recommends mineral mining rights be granted through auction and bidding
Central bank works to raise interbank rates and ease forex market
Inflation a concern following salary increases
National Council for Sustainable Development established
Market Update
Last updated at 3:05:01 PM
VN-INDEX 1,269.61 +4.93/+0.39%
Real-time chart
Top 5 Actives
Top 5 Gainers
Top 5 Losers
My Favorite Quotes
Company Research
Type in the symbol above for thorough background information, key statistics and financial information.
Stock Sectors
We continuously improve our services, here are the latest updates...
Portfolio
Allow you to monitor a customised group of securities. You can set up multiple Portfolios to help you better manage your investments.
Trigger Alerts
Get up-to-date alerts delivered directly to your email address.
Stock Screener
Allow you to filter the market and find exactly what sort of company you are looking for.
Live Terminal
Get instant access to FREE REAL-TIME streaming quotes for hundreds of stocks from HOSE, HNX and UPCOM exchanges.