Vietnam expects tighter power supply over the next two years as EVN plans 830 trillion dong in investment
A Ministry of Industry and Trade official said on November 10 that Vietnam’s energy supply had remained stable in 2026, but rising electricity demand and delays affecting new power projects could make supply more difficult in 2027 and 2028. Vietnam Electricity plans to invest about 830 trillion dong from 2026 to 2030.
On November 10, Deputy Minister of Industry and Trade Nguyễn Việt Sơn told the 2026 National Energy Security Forum that Vietnam’s energy system had faced its biggest shock in decades this year, yet electricity and petroleum product supplies remained stable. He expects power supply to face difficulties in 2027 and even greater challenges in 2028, as electricity demand continues to grow by about 10% from an already high base while new baseload power sources have yet to come online.
The deputy minister of industry and trade speaks at the 2026 National Energy Security Forum.（VietVance）
Nguyễn Việt Sơn said the Strait of Hormuz was blocked for about six months, while Brent crude prices at one point reached US$118.3 a barrel. High temperatures and El Niño drove Vietnam’s electricity load to a record high, while hydropower generation fell by about 18.5 billion kWh compared with 2025. The country’s two refineries operated above their design capacity, and crude oil sources expanded from one type to more than 10. There has been no shortage of petroleum products, and national reserves have not been used.
He also noted that net energy imports accounted for 43.9% of Vietnam’s total primary energy supply in 2025. Petroleum product reserves were equivalent to about 60 days of net imports, below the 90-day target, and the country has no national crude oil reserve. Some power generation and grid projects still face difficulties involving regulatory mechanisms, land and funding.
Nguyễn Tài Anh, deputy general director of Vietnam Electricity (EVN), said commercial electricity consumption rose 9.8% year on year in the first 10 months of 2026. Electricity load in the northern region rose 14.7% in May and 17.5% in June. The group is preparing for power supply in 2027 by arranging reservoir storage, fuel supplies and power plant maintenance.
Vietnam Electricity expects to invest about 830 trillion Vietnamese dong from 2026 to 2030.（VietVance）
Vietnam Electricity expects to invest about 830 trillion Vietnamese dong from 2026 to 2030, an annual average of 166 trillion dong, and aims to complete 15 power generation projects with a combined capacity of 6,066 MW. These include the two Quảng Trạch I units, with a combined capacity of 1,403 MW, which it aims to bring into commercial operation in 2026. The 200 MW Trị An hydropower expansion is scheduled to begin generating electricity in 2027. During the same period, plans also call for the completion of 292 transmission grid projects at 500–220 kV and about 1,320 projects at 110 kV.
Source: VietVance
