EVN owes PVN over 6.4tr dong of electricity purchase

Vietnam National Oil and Gas Group (PetroVietnam-PVN) has recently said that as of May 31, Electricity Power Trading Co (EPTC) under Electricity of Vietnam (EVN) owns PetroVietnam Power Corp (PVPower) about 6.436 trillion dong of electricity purchase (excluding 895 billion dong of management and operation costs for Ca Mau power plants No 1 and 2)
According to PVN, EPTC often delayed payment of electricity purchase for PVPower and the average debt duration is 5 months.

The frequently late payment of EPTC together with the lack of foreign currency for PetroVietnam Gas Corp (PVGas) to pay for gas purchase from the contractor Talisman, have affected the production and business activities of PVPower in the fuel supply and material procurement, maintenance and repairing for factories. – SGTT

Tags: EVN, PVN

Posted by VBN on Jun 18 2011. Filed under Energy, Oil-Gas & Petroleum. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry