MoIT targets 347.5 billion kWh of electricity production and imports in 2025. (Source: VNA)

Simultaneously, the country’s total power generation capacity, excluding rooftop solar power, is expected to reach approximately 82,097 MW, reflecting a 6.2% rise year-on-year.

To ensure sufficient electricity supply for production and daily needs, the MoIT plans to implement measures to strengthen power sources, while collaborating with relevant agencies to address challenges, particularly during the dry season of 2025.

The ministry reported that electricity supply in 2024 has largely met the needs of economic and social development, as well as the daily requirements of citizens.

By the end of 2024, the total electricity output of the national grid is estimated to reach 309.7 billion kWh, an increase of 10.1% compared to 2023 and surpassing the initial target by two%.

A significant milestone in 2024 was the separation of the National Load Dispatch Centre from the Vietnam Electricity (EVN) and the establishment of the National Power System and Electricity Market Operation Company Limited (NSMO), operating under the MoIT. This restructuring aims to advance the electricity sector’s reform and lay the groundwork for a competitive power market in Vietnam.

However, the MoIT acknowledged that the transition from fossil fuels to renewable and new energy sources - a critical component of Vietnam’s commitment to reducing emissions under COP26 agreements - remains sluggish.

Furthermore, the competitive wholesale electricity market is still operating at a basic level due to limitations in information technology infrastructure, all while electricity demand continues to grow rapidly.

In light of these challenges, the MoIT emphasised the importance of coordinated efforts from all stakeholders to accelerate energy transition, improve market operations and ensure the stability and efficiency of the national electricity supply system.