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EVN earns VND2.8 trillion profit from electricity production, trading

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Vietnam Electricity (EVN), the largest power company in Vietnam, earned the profit of VND2,792 billion (US$119.72 milion) last year with electrity production and trading cost of VND1,667.7 per kWh.

The press conference at the headquarters of the Ministry of Industry and Trade in 2017 to announce EVN expenditure and profit in 2017

The press conference at the headquarters of the Ministry of Industry and Trade in 2017 to announce EVN expenditure and profit in 2017

That was reported at a press conference held by EVN and the Ministry of Industry and Trade to publicize power production and trading costs in 2017 yesterday afternoon.
At the conference, EVN reported that power production and trading costs reached VND291,278 billion. Electricity sale revenue totaled VND298,954 billion.
According to Deloitte Vietnam, independent auditing company, EVN’s revenue from electricity production and trading activities was VND4,116 billion. The corporation got VND2,792 trillion in profit with the cost price of electricity production and trading of VND1,667.7 per kWh.
Mr. Tran Tue Quang, deputy head of Electricity Regulatory Authority of Vietnam, said that expenses not calculated in electricity production cost price in 2017 include the exchange rate difference of VND1,940 billion, which has been entered the accounts of power production and trading cost at National Power Transmission Corporation; and exchange rate difference approximating VND3,071 billion from power trade contracts’ performance by electricity generation companies.

By VAN PHUC – Translated by Hai Mien

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