Electricity of Vietnam sells stakes in companies

Hanoi (VNA) - The Electricity of Vietnam Group last week said it had divested from many companies.

The group, also known as EVN, auctioned 40 million shares of An Binh Joint Stock Bank (ABBank) and unloaded all its shares in the An Binh Securities JSC besides cutting its stake at EVN Finance JSC from 40 percent to 15 percent.

EVN also plans to divest from ABBank, as well as complete procedures to organise a public auction of its shares in the Global Joint Stock Corporation, or GIC.

ENV has also submitted three plans to the Ministry of Industry and Trade with an aim to ensure sufficient power supply for the year 2016.

According to the first plan, the electricity supply would still mainly depend on Vinh Tan 2 and Duyen Hai 1 thermopower plants.

In the six months of the dry season, the group would have to mobilise power supplies from thermopower plants and turbine gas. Reservoirs would be controlled to retain water at high level till the end of April.

In August and September, the EVN would mobilise oil fired power supplies. In the north, the power supply would come from hydropower plants and Vung Ang 1, Nghi Son 1, Mong Duong 1 and 2.

It is expected that the power transmission output for the whole of next year would be 13.27 billion kWh. The highest output would be 1.5 billion kWh while the lowest would be 500 million kWh.

The second forecast is that the electricity load would be at 0.78 billion kWh in the dry season. The power supply would not need to be mobilised from oil fired power plants. Electricity supply for the whole year would ensure that.

The third plan has the same power load of the second plan but lower output from hydropower plants. The EVN would have to mobilise power supplies in both dry and monsoon seasons. It is estimated that the oil fired power output in the dry season would be 1.3 billion kWh and 5.1 billion kWh for the whole year.

EVN said they would facilitate the construction of key power projects, enhancing maintenance of turbines and improving people's awareness on electricity saving.

It asked the ministry to inform the Vietnam National Oil and Gas Group (Petrovietnam) to prioritise the supply of gas for power generation.

It also proposed that the Vietnam National Coal and Mineral Industries Group (Vinacomin) supply enough coal for thermopower plants while keeping Cam Pha, Son Dong, and Na Duong, along with Cao Ngan and Mao Khe power plants in stable operation.

The country saved 2.6 billion kWh this year, which was equivalent to 2.2 percent of the commercial power production, EVN said.-VNA