After more than 5 years of participating in the competitive electricity generation market (1st level of the Competitive Electricity Market), the Mong Duong Thermal Power Company has generated over 35 billion kWh for the National Grid, contributing to guarantee national energy security and providing efficiency for enterprises and society.
Mong Duong Thermal Power Company (as a subsidiary of EVNGENCO3)
On July 01st, 2016, Mong Duong Thermal Power Company in charge of management and operation of Mong Duong 1 Thermal Power Plant has officially joined the competitive power generation market (VCGM). Up to now, the Company has achieved some encouraging results. The average power output exceeds 6 billion kWh/year, equivalent to average revenue of 8,100 billion VND/year. As of May 31st, 2022, the total accumulated output is over 36.3 billion kWh.
Based on the principle of variable cost pricing, taking available advantages of modern equipment, technology, and low fuel costs when participating in the electricity market, the Company has been proactive in calculations, preparation of operation and maintenance schedules of equipment and consideration of operation times to assure the equipment safety while still ensuring the revenue, plan, output and profits of the electricity production.
In fact, in recent years, when the load demand is low in the rainy season, hydropower plants have to discharge to regulate the water level of the spillway; however, thanks to a reasonable pricing plan, one plant unit of the Company is still operated to ensure the assigned power output plan and availability factor of the plant unit.
Mong Duong Thermal Power Plant guarantees stable and efficient operation
In 2022, it is forecasted that the system load will grow by 8% compared to 2021, when socio-economic activities gradually return to a new normal state, the capacity for power generation will increase. The Company's production operations still face potential risks in terms of input fuels and the hot development of renewable energy sources, due to influences of the world political situation, which has increased the import prices of coal and oil; and prolonged hot weather causing local oversupply in the Southern Region during the daytime.
Right from the beginning of 2022, when facing such difficulties, the Company's Board of Directors has actively implemented solutions to overcome abnormalities of equipment to improve the reliability of the unit plant by upgrading and replacing better quality equipment. In addition, the Company has also implemented solutions to reduce self-use and loss energy of unit plants to improve the operation efficiency of the equipment. The Company continues to update information in the electricity market to come up with solutions and adjust specific pricing strategies in the market to obtain the maximum profit.