On the afternoon of 28th July 2022, in Quang Ninh Province, Power Generation Corporation 3 - JSC (EVNGENCO3) organizes a preliminary review conference of production and business activities in the first 6 months of 2022.
Participants of the Conference include Mr. Dinh Quoc Lam - Secretary of the Party’s Committee, Chairman of the Board of Management, Mr. Le Van Danh - General Director of the Corporation and other members of the Board of Management, Board of Directors of Power Generation Corporation 3, Board of Supervisors, leaders of departments, divisions and member units, affiliated companies of the Corporation.
During the first 6 months of 2022, the world’s political and economic situation has experienced many complicated changes, the prices of many input fuels such as coal and gas increase, and global inflation grows rapidly, these force countries to tighten their monetary policies causing the sharp increase of the USD/VND exchange rate and strong changes of the electricity market. Understanding all of these difficulties and challenges, Power Generation Corporation 3 has made great efforts to guarantee stable, safe and reliable electricity production. As a result, the total electricity output of EVNGENCO3 is 15.83 billion kWh, reaching 49.7% of the year plan. The total profit before tax (including exchange rate difference) is 1,529 billion VND.
Mr. Le Van Danh – General Director of EVNGENCO3 presides over the Conference
The highlight is that Buon Kuop Hydropower Company has a total power output of 1.15 billion kWh, reaching 128.9% of the 6-month plan in the dry season, increasing up to 42% over the same period last year and other power plants of the Company are under a high operation condition thanks to favorable hydrological conditions. The power outputs of Phu My Thermal Power Company and Mong Duong Thermal Power Company are 6.0 billion kWh, reaching 51.9% and 3,595 billion kWh, reaching 51.38% of the year plan, respectively. Meanwhile, the operation of Vinh Tan 2 Thermal Power Plant is not high due to the general difficulties of the coal fuel market, so it only reaches 44.75% of the 2022 plan, equivalent to a power output of 3.253 billion kWh.
Mr. Tran Dinh An - Head of the Planning Department of EVNGENCO3 reports on production and business results in the first 6 months of 2022
In terms of construction and investment, the Corporation continues to seek foreign and domestic cooperation and development opportunities. For the Long Son Power Complex Project, the Corporation is coordinating with partners in the Complex to implement the next steps to implement the investment preparation. Notably, in May 2022, on the sidelines of the business trip of the Prime Minister, Mr. Pham Minh Chinh to the United States and based on the agenda of the leadership of Vietnam Electricity (EVN), the Corporation has a working session with LNG supplier partners such as Tellurian Inc, Cheniere Energy, General Electric Group on development and corporation promotion plans in the field of operation and repair services for power plants and cooperation for the development of new projects.
The equitization has also marked another important milestone. On 10th February 2022, the Power Generation Corporation 3 – JSC, with stock code PGV, has become an officially listed member on the Ho Chi Minh City Stock Exchange (HoSE) with 1,123,468,046 shares to be offered. This is a big challenge and also an opportunity for EVNGENCO3 to constantly improve its brand reputation, transparency and efficiency in corporate governance and open up an opportunity to approach foreign and domestic investors.
Regarding the management work, on the morning of 14th June 2022, in Ho Chi Minh City, the Corporation has successfully organized the Annual General Meeting of Shareholders in 2022. The General Meeting approved the dividend payment rate for 2021 is 13%, in cash. Accordingly, EVNGENCO3 has spent about 1,460 billion VND to pay dividends for more than 1.1 billion outstanding shares, and the dividend payment date in 2021 is 29th July 2022. This is the high dividend rate of EVNGENCO3 since its official listing, showing the strong commitment of the Board of Management to shareholders’ interests.
EVNGENCO3 has actively implemented digital transformation and automation in its member units. At the Conference on Power Sector Automation in the digital transformation trend held on April 12th, 2022 in Ho Chi Minh City by EVN, the Corporation has introduced 3 automation products including Metal Tank Painting Robot (PM TANKBOT 1), Autonomous Power Conversion Simulation System (ATS) researched and developed by Phu My Thermal Power Company, and Automatic Hydrological Data Monitoring, Calculation and Transmission System (BK HYDROLOG) manufactured and installed by Buon Kuop Hydropower Company. The achievements of digital transformation have contributed significantly to improving business and production efficiency, increasing labor productivity, strengthening the reliability of power supply, and assuring the provision of repair and operation services of power plants for customers.
In addition, the issue of environmental protection, consumption of ash and slag at power plants of the Corporation is always focused on, all environmental parameters are well controlled and standards are guaranteed; the transparency, data, images, and environmental monitoring parameters are always monitored continuously; plants are assessed as green, clean and beautiful by inspection and supervision teams. On 25th June 2022, the National Assembly Committee for Science, Technology and Environment and the delegation of the National Assembly of Binh Thuan Province have inspected and supervised the environmental management of units and highly appreciated the efforts in environmental protection of the plants at Vinh Tan Power Center and the successful completion of power production, contributing to guarantee the national energy security.
From 25th - 28th May 2022, the Corporation and Trade Union of EVNGENCO3 have organized the commendation of “Typical Electrical Workers” and “Excellent Safety and Hygiene Employees" in 2022, combined with the summary and award of the Excellent Safety and Hygiene Employees Contest of the Power Generation Corporation 3 in 2022. In this program, EVNGENCO3 has commended 43 typical workers and 20 excellent safety and hygiene employees and awarded certificates to 40 employees of units.
Mr. Do Mong Hung - Member of the Board of Management of EVNGENCO3 contributes his ideas for the plan and tasks in the last months of 2022
Units participate, discuss and propose optimization solutions in all aspects to complete the plan for the last 6 months of 2022
Regarding the social security work, the Corporation has organized two major programs throughout the year, targeting local students, including "Faith School" and "School Milk". Accordingly, EVNGENCO3 agrees to sponsor 47 secondary-school students who lost their parents due to the COVID-19 pandemic until they complete their 12th grade (2 million VND/month). Currently, the Corporation has completed the first funding, transferred 948 million VND for the program (from October 2021 to June 2022). The "School Milk" Program provides milk for nearly 2,000 students of 3 primary schools in Binh Thuan and Ba Ria - Vung Tau provinces during the school year of 2021 - 2022. The total value sponsored to 2 localities by the School Milk Program is nearly 1 billion VND.
Other practical social security programs are still maintained such as "House of Love" in Binh Thuan Province, giving Houses of Solidarity, visiting and handing gifts to disadvantaged families, making blood donations to respond to “EVN’s Pink Week” and so on, these have become a sharing beauty and community-oriented culture, contributing to portraying a collective, enterprise that is always responsible to society.
Mr. Dinh Quoc Lam - Secretary of the Party’s Committee, Chairman of the Board of Management speaking at the Conference
In the context of many changes of input factors such as fuels, exchange rate, and electricity market, constant movements of digital technology, automation, growth of renewable energy sources, and fluctuations of the stock market, etc., Mr. Dinh Quoc Lam - Secretary of the Party’s Committee, Chairman of the Board of Management requires all staff and employees of the Power Generation Corporation 3 to strive to overcome difficulties and challenges, assure the flexible adaptation, and drastically implement solutions to optimize all operations for the fulfillment of production and business tasks and objectives of the plan that is approved by the Annual General Meeting of Shareholders in 2022. The Corporation is also required to guarantee the power supply for the national power system with the target of 16.02 billion kWh in the last months of the year and 31.85 billion kWh in 2022, providing a sufficient source of fuels for production and taking care of life and health of employees and assuring the interests for shareholders.