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| In the case of economic growth above 7-7.5%, electricity consumption can increase by 12-13%. |
| Photos: Huy Hung/VNA/CVN |
According to analysts at Tiên Phong Securities Company (TPS), capital flows are moving to Vietnam, especially in the manufacturing and processing sector. These are expected to increase even more sharply after the new US President Donald Trump takes office. At the same time, the government’s public investment activities will be boosted. These factors will combine to lead to high electricity consumption in 2025.
If the economy grows by 1% electricity consumption will increase by 1.5%. Therefore, with the growth rate predicted by the Ministry of Planning and Investment, electricity consumption in 2025 is expected to increase by 10.5 to 11.25%, which corresponds to an additional supply requirement of 2,200 to 2,500 MW of capacity. In the case of economic growth above 7-7.5%, electricity consumption can increase by 12-13%, analysts estimate.
Manufacturing companies called upon to better prepare
The sharp increase in electricity consumption poses a capacity challenge, requiring the electricity industry and manufacturing companies to have more flexible and long-term calculations to minimize the risk of fluctuations. As in the TPS December 2024 Electricity Industry Update Report, Vietnam’s electricity supply sources have not changed much since 2021. Therefore, it is difficult for electricity supply to increase strongly.
According to expert Dr. Dào Lê Trang Anh, in the context of energy supply challenges, the manufacturing industry must develop a longer-term investment strategy, in particular by investing in renewable energy and converting to a sustainable model.
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| Manufacturing companies need to have more flexible and long-term calculations to minimize the risks of electricity supply fluctuations. |
| Photo : VNA/CVN |
Dào Lê Trang Anh believes that one of the main solutions to reduce dependence on traditional energy sources is to invest in renewable energy. Vietnam has advantages in terms of geography, so manufacturing companies can consider installing rooftop solar energy systems or investing in wind energy projects.
Furthermore, said Dào Lê Trang Anh, investing in advanced technologies is very important to improve energy efficiency.
Companies should consider applying automation systems, installing energy-efficient machines and green production processes to minimize energy consumption and operating costs. Digital transformation and technologies such as the Internet of Things (IoT) can help monitor and optimize energy consumption, helping businesses reduce waste and increase production efficiency, said Dào Le Trang Anh.
Dào Lê Trang Anh advised companies to develop contingency plans and diversify supply sources by cooperating with different energy suppliers and investing in energy storage solutions.
To support the manufacturing sector, Dào Lê Trang Anh said the government and state management agencies should create a favorable business environment to minimize the negative impacts of energy instability.
To ensure electricity supply in the coming period, experts propose an adjustment of the VIII Electricity Plan as many targets set under the plan are difficult to achieve. It is therefore necessary to adjust and reorganize the source of supply in order to minimize the risk of insecurity in electricity supply during the period 2026-2030.
VNA/CVN
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