The Vietnamese government announced on 8 October, their plans to phase out subsidies and raise domestic electricity rates from 2009, an exciting new development in Vietnam's power sector that 11th Vietnam Oil Gas & Power will be mapping.
The move is aimed at making the sector more profitable in a bid to attract investments for badly needed new power plants to supply electricity to meet rising demand.
Industry and Trade Minister Vu Huy Hong said "an adjustment to a market-oriented mechanism is unavoidable" as current state-set retail power prices in the country were below cost and not feasible for the long term. Deputy Industry and Trade Minister Bui Xuan Khu said recently that electricity rates may go up by as much as 20% from next year.
Mr. Lam Du Son, Member of Management Board of Electricity of Vietnam will be speaking on the matter at 11th Vietnam Oil Gas and Power. Sharing Electricity of Vietnam's perspectives on the "Opportunities in Vietnam's Power Sector". He will touch on regulatory updates, including the change in pricing, as well as the breakdown of foreign investments into Vietnam's power sector. He will also speak about Vietnam's plans to expand their power transmission and distribution network.
Power blackouts have become commonplace in Vietnam, where domestic demand has surged with the robust economic growth in the country. According to the Asian Development Bank, Vietnam's power demand is expected to rise 16% annually till 2010 and by 12% a year afterwards.
Vietnam has for decades generated most of its electricity from coal and hydropower but more recently has shifted increasingly to natural gas, with plans to have its first nuclear power plant operational by 2020.
Leading the move towards Natural Gas power generation is Chevron Vietnam. Mr. Hank C. Tomlinson, president of Chevron Vietnam will be sharing his perspectives on his company's upcoming integrated gas development project, and gas power trends in Vietnam.
In addition to regulatory changes, 11th Vietnam Oil Gas and Power will also feature topics encompassing the latest developments in the Vietnamese power marketplace. Hear from the following key power players including:-
1. Mr. Tom Watters, General Manager
Summit Sunrise Energy Co. Ltd (A Sumitomo Corp Group Company)
TOPIC: How Will Vietnam Secure her Power Needs?
2. Mr. Gilles Pascual, Director,
Project & Export Finance- HSBC Corp.
TOPIC: Financing Vietnam’s Power Investment Schemes
3. Mr. Tony Segadelli, General Manager
PB Parsons Brinckerhoff Power-Bangkok Office
TOPIC: Biomass Opportunities for the Power Sector in the Greater Mekong Region
