HCMC – Vietnam Electricity Group (EVN) incurred losses of nearly VND22 trillion from its electricity generation operations in 2023, according to an inspection conducted by the Ministry of Industry and Trade.
The ministry released the results of its inspection of EVN’s production and business costs on October 10. These findings will serve as the foundation for the Ministry of Industry and Trade and EVN to calculate and propose necessary adjustments to retail electricity tariffs.
The report indicated that total electricity production and business costs for 2023 reached VND528.6 trillion, an increase of 7.16% from the previous year. This translates to a production cost of VND2,088.9 per kWh, up by 2.79% compared to 2022.
Despite this, the average retail electricity price has remained unchanged at VND2,006.79 per kWh since November 2023. As a result, EVN is losing over VND82.1 for each kWh of electricity sold, though this loss is only half of what it was in 2022.
Overall, EVN reported a loss of over VND34,245 billion from electricity production and business activities in 2023. However, after factoring in other financial income, the loss was reduced to VND21,822 billion.
This marks the second consecutive year of losses for EVN, as the company previously reported a loss of nearly VND36.3 trillion from electricity production and business in 2022.
