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Vietnam still has to curb electricity price
Vietnam still has to curb the electricity price, though this will not encourage investors to inject money in the power sector, said Deputy Prime Minister Hoang Trung Hai.
It seems that the electricity shortage in 2008 is more serious than in previous years. What is the government doing to resolve the shortage?
As planned, we will have some 3,000 MW added into the national grid this year. However, the plan has not been fully implemented as Ca Mau 1 and Ca Mau 2, which have the capacity of 1,500 MW, have been slow in operation, while some other projects have not been put into operation due to lack of capital.
Meanwhile, other power plants have had troubles. The transformer blew up in the Uong Bi power plant, while Phu My 1 and Phu My 2-2 have had problems in operation. Moreover, lack of water in water reservoirs in southern provinces has made it difficult to transfer electricity to the north.
The government has called for investment in power projects to be sped up. Though Vietnam is trying to tighten monetary policies and cut public investments, it still needs to spend money on really necessary projects.
Do we lack power projects and capital to implement the projects?
There are a lot of electricity projects. Commercial banks have re-signed contracts on guaranteeing to provide enough capital for power projects. The government has established three working missions to check the disbursement for the projects.
Do you think that the slow project implementation originates from the fact that the government still controls the electricity price? The Electricity of Vietnam always complains that it loses money. What is the viewpoint of the government on this issue?
In principle, electricity needs to get the profit of 12% per annum in order to ensure payment capability and arrange capital for investment in other projects.
Meanwhile, EVN can get the profit of 3-5% per annum only (its profit is expected to be 3% at maximum this year).
The electricity price control truly does not encourage investors to inject money in power projects. However, curbing electricity price is a must for now, because we prioritise the fight against inflation. However, in the longer term, the state will not subsidise electricity anymore.
VNN
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