PetroVietnam Power Corporation (PV Power, stock code: POW) has released an estimated business performance report for August 2025. According to PV Power, August marks the peak of the rainy season in the Northern, North Central, and Southern regions of Vietnam.
The average Feed-in Tariff (FIT) for August stood at approximately 837 VND/kWh, significantly lower than the same period in August 2024 (1,507 VND/kWh), but higher than August 2023 (783 VND/kWh). This rate remains well below the fuel cost of coal and gas power plants, continuing to impact the operational efficiency of PV Power’s plants.
As per the national power system operation plan from early August 2025, the total electricity production and import for the month is projected to reach ~29.6 billion kWh, a 3.49% increase compared to August 2024. The system’s peak capacity for August 2025 is expected to hit 50,861 MW, up 3.89% year-on-year.
In August, PV Power’s power plants are estimated to generate a total contracted electricity output of approximately 1,332 million kWh, with electricity sales revenue reaching 2,386 billion VND. The Vung Ang 1 Power Plant contributed over 806 billion VND, and the Nhon Trach 2 Power Plant added 626 billion VND, together accounting for more than 60% of the total revenue.
For the first eight months of the year, cumulative electricity sales revenue is estimated at nearly 23,079 billion VND.
Regarding power plant operations, PV Power’s gas and coal-fired plants have set prices closely aligned with the System Marginal Price (Qc) and operated below Qc to optimize efficiency. Specifically, the Hoa Na Hydropower Plant was allocated a high Qc of 119 million kWh, prioritizing maximum output to fully utilize the reservoir’s water inflow.
The Dakdrinh Hydropower Plant received a high Qc of 70.5 million kWh and a system operation plan of 72.9 million kWh. Despite bidding low prices to maximize operation under abundant water conditions, the plant was only dispatched at lower levels by the system operator.
Regarding the Nhon Trach 3 and 4 Power Plant projects, PV Power anticipates commercial operation of Nhon Trach 3 to commence in November 2025.
For September, the company plans to achieve a total electricity output of 1,570 million kWh and targets revenue of 3,252 billion VND.
PV Power is a subsidiary of the Vietnam Oil and Gas Group (PVN), holding 79.94% of its capital. In early November 2024, PV Power inaugurated its first pilot electric vehicle charging station at 6 Huynh Thuc Khang Street, Ba Dinh, Hanoi.
This charging station project is part of PV Power’s long-term strategy to promote clean energy usage in Vietnam. The station at 6 Huynh Thuc Khang will serve as a foundation for PV Power’s expansion, aiming to establish 1,000 charging stations nationwide by 2035.
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