Prime Minister Pham Minh Chinh speaks at the working session (Photo: VNA)

PM Chinh asked the EVN to work closely with ministries, agencies and units to operate the power system scientifically and in line with the country's conditions.

Hailing the EVN’s remarkable journey over the past seven decades, including its achievements in 2023, he highlighted the sector's active role in contributing to energy security and providing electricity for daily life, production and socio-economic development.

He required the sector to reorganise its management and operations, with priority given to restructuring based on market principles, promoting production and trade, and fighting negative occurrences.

Agreeing with the EVN's goals, tasks, and solutions for the current year, he directed the group to proactively coordinate with relevant sectors to ensure the optimal operations of power plants. This includes strategic planning for electricity imports to meet domestic demand, and ensuring the safe and reliable operation of the power transmission system, especially the 500kV North-South line.

The EVN must ensure the completion of electricity grid projects ranging from 110-500kV this year, focusing on the third circuit of the Quang Trach-Pho Noi 500kV line, he said.

In accordance with the approved National Power Development Plan VIII, the EVN was assigned to build and roll out medium- and long-term strategies for energy development, formulate contingency response scenarios while leading the transition to green, clean, and sustainable energy.

The PM stressed that smart governance is imperative, highlighting the need for enhanced digital transformation, continued renewal of existing driving forces, effective operations of the National Load Dispatch Centre and intensified monitoring and inspection.

The Ministry of Industry and Trade and the Commission for Management of State Capital at Enterprises were assigned to collaborate with relevant ministries and agencies to address suggestions raised by the EVN.

Concluding his remarks, PM Chinh expressed confidence that, with its 70-year tradition, the EVN would successfully fulfill the tasks entrusted by the Party, State, and people, with even better results than those made last year.

Last year, EVN produced 280.63 billion kWh of electricity, marking a 4.56% increase from 2022. Commercial electricity output saw a 3.52% rise to 251.25 billion kWh. At present, Vietnam leads ASEAN with a total power system capacity of 80,555 MW.

Its total investment value hit nearly 91 trillion VND (3.79 billion USD), or 95.9% of the plan, with the commencement of 146 works and the completion of numerous others related to the 110-500kV electricity grid.

The EVN posted a total revenue of 497 trillion VND and contributed about 21 trillion VND to the State budget. By the end of last year, its consolidated total asset value was projected at 630.54 trillion VND.

This year, the group strives for a commercial electricity output target of 262.26 billion kWh, a labour productivity increase of over 8% and a total investment of 101.9 trillion VND.