Vietnam: GDP Decline to Pull Down Electricity Growth

Vietnam’s GDP growth target cut to 5 per cent for this year from earlier 6.5 per cent will lead to a decline of 3.12 per cent or 2.56 billion kWh in national electricity consumption demand.

 

This year, if Vietnam GDP grows 6.5 per cent, the electricity sector must ensure a growth rate of 13 per cent to supply 86.65 billion kWh.

 

However, due to effects of the world economic crisis, the Vietnam National Assembly has recently approved a proposal by the government to cut the target to 5 per cent this year, which means the national power consumption will hit 83.994 billion kWh.

 

In the first five months this year, Vietnam produced 31.8 billion kWh of electricity in the first five months of this year, up 5.7 per cent on year.

 

Power consumption by the industry and construction sectors rose 1.6 per cent on year, compared with growth of between 15 per cent and 20 per cent last year.

 

Based on the situation, the state-owned Electricity of Vietnam Group (EVN) said the country will not face power shortage this year, adding that Vietnam’s biggest hydropower plant, 1,920-MW Hoa Binh, generated 3.7 million kWh of electricity per day in recent time thanks to early small flood in the Da River. (Saigon Liberation, VietNamNet)