Vietnam Petroleum Power Joint Stock Corporation (PV Power, stock code POW) has just announced its estimated business results for May 2025.
According to the report, the output from the plants reached approximately 1,807 million kWh, and revenue is estimated at VND 3,384 billion, exceeding the monthly plan by 7%. For the first five months of the year, PV Power recorded a revenue of VND 14,993 billion.
PV Power stated that the full-time market electricity price (FMP) averaged VND 1,181 per kWh in May 2025, the lowest in the last three years, compared to VND 1,600 per kWh in the same period in 2024 and VND 1,960 per kWh in 2023.
However, the corporation’s business results remained positive due to the surge in electricity demand amid scorching weather conditions and average temperatures higher than the multi-year average by 0.5 – 1°C.
Regarding the production situation of each plant in May 2025, PV Power reported that at the Ca Mau 1&2 Power Plant, the gas supply met the operating demand according to the contracted output (Qc). The plant closely monitored the market situation to offer competitive prices to meet Qc and operated beyond Qc during hours of high market prices to optimize profits, fully utilizing the gas supply.
PV Power is collaborating with Vingroup to promote electric vehicle charging infrastructure. In early November 2024, PV Power inaugurated its first pilot charging station in Hanoi (No. 6 Huynh Thuc Khang). The goal is to have 1,000 charging stations nationwide by 2035.
PV Power, a subsidiary of Vietnam National Oil and Gas Group (PVN) with a 79.94% stake, is the largest power generator outside of EVN and has the largest market capitalization in the electricity industry on the stock exchange.
