EVN’s revenue from telecommunication reaches over 60pct

Electricity of Vietnam (EVN) has reported its business and production results in 2010 with total telecommunication revenue of only 2.885 trillion dong, equaling to 61 percent of the year’s plan.

The above figure was given at the end of the year summation conference and set business and production targets in 2011 held on January 10.

In 2010, EVN was assigned to ensure an electricity production and purchase of 93.38 billion kWh. However, with the endeavor of the group, the total electricity production and purchase in 2010 reached 97.25 billion kWh, up 114.73 percent against 2009′s and exceeding 3.87 billion kWh versus the plan assigned by the government and surpassing over four billion kWh from the group’s target in the Vietnam’s power development strategy during the period 2004-2010.

Also in 2010, the group provided 85.6 billion kWh of commercial electricity, rising 14.41 percent y-o-y. Of which, commercial power for domestic demands reached 84.424 billion kWh, up 13.58 percent y-o-y and two-fold increase against the GDP growth rate.

The commercial power for industry saw a rise of 18.54 percent while that for agriculture, forestry and fisheries surged 33.08 percent, for management and individual consumption up 7.04 percent and for other activities up 15.01 percent y-o-y.

The group also finished and put into operation 11 generators with a total capacity of 1,895 MW. Notably, the first generator of Son La hydropower plant (400 MW) joined the national grid on December 17, 2010, two years prior to the progress approved by the National Assembly.

Currently, EVN is investing in 39 electricity source projects with a total capacity of 27,729 MW, of which, 18 ones are under construction on time with total capacity of 9,764 MW, five projects with total capacity of 4,356 MW have been kicked off and 21 ones finalised the investment procedures with total capacity of 17,965 MW.

In 2010, the group’s total construction investment value was 59.428 trillion dong, fulfilling 101.4 percent of the year’s plan and up 24.5 percent of the 2009′s actualised figure. Of which, the net investment value was 46.974 trillion dong or 102.7 percent of the plan and contribution capital for power source projects was 386 billion dong.

Also according to EVN, although in 2010, it met many difficulties in production and business, EVN still earned 90.877 trillion dong from electricity sale. However, in 2010, the group’s finance balance issue was affected by high power purchase costs and capital mobilisation costs for the FO and DO oil-fuelled plants to meet power demand in 2010.

Till December 31, 2010, the group paid 12.068 trillion dong for debts.

In 2010, the average electricity price reached 1,060.63 dong/kWh, higher 2.93 dong/kWh against the plan approved by the Ministry of Industry and Trade. Of which, HCM City Power arm reached 1,289.4 dong/kWh (up 96.46 dong/kWh) and Hanoi Power arm reached 1,182.3 dong/kWh (up 111.23 dong/kWh). The total revenue from electricity sale reached 90.877 trillion dong, rising 21.5 percent y-o-y.

According to EVN’s general director, Pham Le Thanh, in 2010, his group’s revenue from public telecommunication sector was low with only 2.885 trillion dong, equaling to 61 percent of the year’s target (4.729 trillion dong).

Pursuant to the government’s instruction, to ensure the electricity supply in 2011, the total electricity output would be 117.6 billion kWh, growing 17.63 percent y-o-y (including EVN and other enterprises, in 2011, EVN’s electricity production and purchase would be 112.6 billion kWh, up 15.78 percent y-o-y), of which, EVN’s power production would be 48.1 billion kWh and power purchases would be 64.5 billion kWh.

Accordingly, the total commercial power supply would be 98.53 billion kWh, up 15.11 percent from 2010.

In 2011, the group strives to gain 4.536 trillion dong of revenue from telecommunication, six million public telecommunication service subscribers including 1.5 million 3G service subscribers.

EVN also plans to spend some 65.875 trillion dong on construction investments, up 12.4 percent y-o-y, 18.478 trillion dong on debt payment, up 51.3 percent y-o-y and capital contribution to electricity projects at 373 billion dong. – Vietbiz24

Tags: EVN