The Business Times
business-time-50
Asean Business logo
SPONSORED BYUOB logo

BT Explains: Vietnam’s severe electricity shortage and the risks it brings

Jamille Tran

Published Tue, Jun 13, 2023 · 05:50 AM
    • The Hoa Binh hydroelectric power plant in Hoa Binh province, Vietnam; Vietnam plans to have hydropower account for 19.5 per cent of the energy mix by 2030, down from 29 per cent in 2022.
    • The Hoa Binh hydroelectric power plant in Hoa Binh province, Vietnam; Vietnam plans to have hydropower account for 19.5 per cent of the energy mix by 2030, down from 29 per cent in 2022. PHOTO: REUTERS

    [HO CHI MINH CITY] There have been concerns over Vietnam’s frequent power blackouts over the past few weeks, but the severity of the electricity shortage has since escalated due to an unusually long and serious heat wave.

    The heatwave has reduced water volumes at hydropower dams and seen more households and businesses crank up their electricity usage to cope with the soaring temperatures.

    Last Thursday (Jun 8), Vietnam Prime Minister Pham Minh Chinh issued a directive to urge people to conserve electricity, and he warned that the power situation will remain challenging for a long time as demand goes up.

    ElectricityAsean BusinessAseanSouth-east AsiaVietnamPower plantsCoalRenewable energy

    TRENDING NOW

    As demand for US bonds falls and yields rise, capital is typically drawn into the greenback, causing capital outflows from emerging market currencies.

    Why US$100 oil, 5% US yields affect Singdollar, ringgit differently vs other Asean currencies

    From left: Pham Nhat Quan Anh, Pham Nhat Vuong, Pham Thu Huong and Pham Nhat Minh Hoang. The couple (centre) remain senior figures in Vingroup, with their children’s presence in the ecosystem growing.

    He built the Vingroup empire. Now South-east Asia’s richest man is handing some key roles to his sons

    The Golden Violet oil tanker docked at a PT Pertamina facility in Tanjung Priok Port in Jakarta, Indonesia. Asia’s new energy security architecture should have a support mechanism to help Asian countries build emergency oil reserves through financing and technical assistance.

    Asia needs new energy security architecture

    Previews for the October launch of Lucerne Grand will begin on Sep 18.

    CDL to launch 570-unit Jurong project Lucerne Grand with prices from S$1.5 million

    Latest T-bills Treasury Bills Results & Interest NewsLatest SSB Singapore Savings Bonds NewsLatest COE Certificate of Entitlement News
    Latest Johor-Singapore SEZ NewsLatest BTO Build To Order & Sales of Balance NewsLatest STI Straits Times Index NewsLatest SGX Dividends, Share Price NewsLatest Bonds Market NewsLatest Singapore Stocks To Buy NewsLatest Singapore Economy News
    View More