evn-prepares-plans-to-ensure-electricity-supply-in-anticipation-of-surging-demand
HANOI (Reuters): Vietnam's state utility and its key power generator EVN reported losses of 21.82 trillion dong (US$879 million) in 2023 on rising costs, the Ministry of Industry and Trade has announced.
EVN is the sole operator of the national power grid in the Southeast Asian country, a regional manufacturing hub.
The company's total costs rose 7.16% last year to 528.6 trillion dong, the ministry said in a statement.
Its electricity production and distribution cost was 2,088.9 dong per kWh last year, the ministry said, up 2.79% from the previous year, the ministry said.
Its average electricity price rose 3.76% last year to 1,953.6 dong per kWh, it added.
EVN said on Thursday the announcement of the losses and cost details are the results of an annual examination conducted by the ministry, based on reports from EVN and its subsidiaries.
EVN's electricity output in 2023 rose 4.26% to 253.05 billion kWh, and its revenue from electricity sales rose 8.18% to 494.36 trillion dong.
(Reporting by Khanh Vu; Editing by Martin Petty and Michael Perry) - Reuters
