Petrovietnam Power Corporation Business Performance Announcement November 2023
Business performance announcement for November 2023 by Petrovietnam Power Corporation includes expected revenue, estimated results in the electricity market, contracted power output, provisional revenue, and power plant outputs. The announcement also covers the impact of weather conditions on operations, progress of new projects, and updates on various power plants like Nhon Trach, Ca Mau, Dakdrinh, and Hua Na. Detailed information on project progress, operating challenges, and future plans is provided in the announcement.
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PETROVIETNAM POWER CORPORATION IR ANNOUNCEMENT November 2023
BUSINESS PERFORMANCE IN NOVEMBER 2023 2
Unit: Bill VND EXPECTED REVENUE 9,765 ESTIMATED RESULTS OF PARTICIPATION IN THE ELECTRICITY MARKET IN NOV IN NOV 2023 7,847 Contracted power output (Qc) (Mill kWh) 5,926 Provisional revenue (Bill VND) Power plant Output (Mill kWh) Sale price (VND/kWh) 2,095 953 941 839 785 724 641 628 698 Ca Mau 1&2 78 71 66 57 32 12 8 1 1 367.5 231.0 770.6 2,097 Ca Mau 1&2 Nhon Trach 1 Nhon Trach 2 Hua Na Dakdrinh Vung Ang 1 PV Power Rec Vung Ang 1 441.4 512.0 829.2 1,879 Nhon Trach 1 38.4 23.2 66.3 1,729 Unit: Mill kWh 4,979 Nhon Trach 2 219.4 380.5 631.2 2,877 3,943 IN NOV 2023 OUT PUT 2,723 Hua Na 56.6 62.5 58.4 1,033 Dakdrinh 54.9 57.3 42.5 774 713 521 563 535 489 441 368 350 219 80 57 55 38 29 5 4 0.3 Note: Revenue is exclusive of VAT, tax, and resource fee Ca Mau 1&2 Nhon Trach 1 Nhon Trach 2 Hua Na Dakdrinh Vung Ang 1 PVPower REC Plan of Month Estimated monthly results Accumulation in 2023 3
November is the dry season in the North and South, the rainy season in the Central region. The rain in early November in the North Central region expanded to the North of the South Central provinces with very heavy rainfall causing widespread flooding in the Central provinces. The system marginal price (SMP) is very low, many times a day the price is only 1 VND/kWh.The average full market electricity price (FMP) is expected to be about 760 VND/kWh PROGRESS OF NEW PROJECTS Nhon Trach 3 & 4 Thermal Power Project: Vung Ang 1 TPP Due to the market price is lower than variable costs, VA1 operating prices that optimize profits and follow A0's operating plan Ca Mau1&2 CCPP Currently, PV Gas's actual gas supply capacity is basically meeting operating requirements. Due to the low market price, the plant operates, and its revenue is calculated according to the case of operating outside the market. CM 1& 2 did not meet the assigned output plan proactively offered EPC Contract progress reached 65,6% / plan 75% (9.5% delay compared to plan) - updated Oct 27, 2023 Nhon Trach 2 CCPP Nhon Trach 1 CCPP After September 7 to November 1, 2023), NT2 focused on operating the generating units to combine testing and monitoring operation. Proactively offered operating prices to ensure efficiency while market prices are low performing the major inspection (from Due to low market prices, NT1 operates low output according to A0's schedule and the quantity of Qc assigned On August 29, 2023, signed a loan contract of 4,000 billion VND from Joint the plant's stable Stock Commercial Bank for Foreign Trade of Vietnam (Vietcombank) Dakdrinh HPP At the beginning of the month, market prices dropped low, and at the same time, the plant had limited water levels, so it only operated with very low output. Since November 14, the reservoir has accumulated to the point of overflowing, so the plant has been mobilized to operate a maximum of 02 units Hua Na HPP Continue to arrange capital, negotiate Due to the favorable hydrological condition, Hua Na HPP has offered optimal operating profit and stored water to normal water levels for the dry season operation period and the 2024 operating year GSA and PPA for the project 4
Continue to safely, stably and efficiently operate power plants. According to the business plan in 2023, the expected electricity output and revenue is as follows: OTHER TASKS Plan No Items Coordinate with PV Gas, TKV and oil suppliers to ensure sufficient fuel supply for power plants operating according to load demand Production management to ensure safe and stable operation of power plants Output (Mill kWh) Revenue (Bill VND) Ca Mau 1&2 TPP 1 595.2 1,075 Nhon Trach 1 TPP 2 263.4 535.9 Nhon Trach 2 TPP 3 357.0 712.5 Hua Na HPP 4 27.6 30.5 ak rinh HPP 5 75.0 73.3 Continue to research and develop renewable energy power projects Continue to work with EVN/EPTC on the policy of assigning Qc to power plants in 2024 Vung Ang 1 TPP 6 505.3 1,003 PetroVietnam REC JSC 7 4.2 8.4 Total 1,828 3,439 6
DISCLAIMER The content in this newsletter is only for the purpose of providing information to shareholders and investors of PetroVietnam Power Corporation (PV Power). PV Power is exempt from liability for any damage caused by information provided in the newsletter that is inaccurate, incomplete or not updated promptly. PV Power reserves the right to change and update information in the newsletter at any time without prior notice. Please cite the source if using information in this newsletter CONTACT PETROVIETNAM POWER CORPORATION VPI building, 167 Trung Kinh, Cau Giay, Ha Noi Tel: (024)22210288 Fax: (024)22210 388 7
