Vietnam’s power sector is expected to face significant challenges in 2026 as electricity demand continues to grow rapidly, while pressure to ensure energy security and control costs becomes increasingly intense. By the end of 2025, the country’s total installed power capacity is projected to reach approximately 87.6 GW, ranking second in ASEAN. However, the power system is still expected to operate under strain to support the country’s ambitious economic growth targets.
A notable development is the emergence of high electricity-consuming industries, including AI data centers, semiconductor manufacturing, and electric vehicles (EVs). These sectors require a highly reliable and stable power supply and are generally unable to significantly reduce consumption when electricity prices rise. As a result, the power sector must maintain higher reserve capacity, leading to increased operating costs.
In addition, although renewable energy offers strong long-term potential, it cannot yet fully replace conventional power sources due to limitations in transmission infrastructure and its dependence on weather conditions. The potential return of El Niño in 2026 could further increase the risk of power shortages, forcing the industry to shift its focus from cost optimization to prioritizing energy security.
To address future electricity supply challenges, major projects such as Quang Trach II LNG Power Plant and 500-kV transmission infrastructure are being accelerated. At the same time, new policies such as the Direct Power Purchase Agreement (DPPA) mechanism and plans for nuclear power development are creating opportunities to attract private-sector investment.
Nevertheless, fuel price volatility, climate-related impacts, and financial pressures remain significant risks. In this environment, companies with diversified power generation portfolios, strong management capabilities, and sustainable development strategies are expected to have a long-term competitive advantage.
Cre: Ngành điện 2026: Áp lực chi phí và bài toán an ninh năng lượng
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