Vietnam Power Market Outlook to 2030
Market Trends, Regulations and Competitive Landscape
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Thermal Power Is the Dominant Source in the Power Mix
Continued Growth in Power Generation
The cumulative installed capacity for power in Vietnam was estimated at XX Megawatts (MW) in 2012. Thermal power was the highest contributor, accounting for a XX% share of cumulative installed capacity, equivalent to XX MW. Between 2000 and 2012, installed thermal capacity increased at a Compound Annual Growth Rate (CAGR) of XX%. Thermal power will continue to be the dominant source of power generation. In order to meet the rapidly growing power demand, the government is augmenting its installed thermal capacity by replacing old power plants with highly efficient thermal units. The country has plans to build a high efficiency coal-powered plant in the Long Phu district as part of its plan to build XX new coal plants by 2025.
Electricity generation in 2012 was estimated at XX Gigawatt hours (GWh). Of this, thermal power contributed the highest share, XX%, followed by hydropower, with XX%, and renewable power, with XX%. Electricity generation grew from XX GWh in 2000 to XX GWh in 2012, at a CAGR of XX%. It is estimated that annual power generation will increase during the forecast period to meet the increasing power demand, which has been caused by the increase in industrial activity and the country’s growing population. The government is now focusing on the expansion of its generation capacity, in particular the capacity of nuclear and renewable power. Power Market, Vietnam, Annual Power Generation (GWh), 2000, 2006, 2012
Thermal installed capacity (MW)
Annual power generation (GWh)
Power Market, Vietnam, Installed Thermal Capacity (MW), 2000, 2006, 2012
2000
2000
2006
2012
2006
2012
Source: GlobalData, Power eTrack, Capacity and Generation Database [Accessed on January 8, 2012]
Source: GlobalData, Power eTrack, Capacity and Generation Database [Accessed on January 8, 2012]
Nuclear and Renewable Energy, the Way Forward The government has been actively focusing on expanding the country’s power mix to meet the growing demand. The country first considered bringing in nuclear power generation in 1995. The proposal was finalized in 2006. Countries like Russia and Japan have agreed to finance and build nuclear reactors for Vietnam. The country has also been focusing on increasing the contribution of renewable power in its generation mix. The share of renewable power is XX% in the country. The government has set a target of achieving a XX% share of renewable power generating capacity by 2020.
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Table of Contents Table of Contents ............................................................................................................................ 3 1.1 List of Tables............................................................................................................................. 5 1.2 List of Figures............................................................................................................................ 6 Introduction ..................................................................................................................................... 7 2.1 GlobalData Report Guidance ..................................................................................................... 8 Vietnam Power Market, A Snapshot ................................................................................................. 9 3.1 Macro-economic Factors ........................................................................................................... 9 3.2 Supply Security ......................................................................................................................... 9 3.3 Generation Infrastructure ........................................................................................................... 9 3.4 Transmission Infrastructure...................................................................................................... 10 3.5 Degree of Competition ............................................................................................................. 10 3.6 Regulatory Structure................................................................................................................ 10 3.7 Future Outlook ........................................................................................................................ 11 Vietnam, Power Market Analysis 2020-2030 ................................................................................... 12 4.1 Vietnam, Power Market, Cumulative Installed Capacity, 2000-2030........................................... 12 4.1.1 Installed Capacity, Breakdown by Type of Power Plant, 2012........................................... 12 4.2 Cumulative Installed Capacity and Annual Generation, 2000-2030 ............................................ 13 4.2.1 Installed Thermal Capacity and Generation, 2000-2030 ................................................... 15 4.2.2 Installed Hydropower Capacity and Generation, 2000-2030 ............................................. 17 4.2.3 Installed Renewable Power Capacity and Generation, 2000-2030 .................................... 19 4.2.4 Installed Nuclear Power Capacity and Generation, 2000-2030 ......................................... 21 4.3 Vietnam, Power Market, Import and Export Scenario ................................................................ 23 4.4 Vietnam, Power Market, Annual Power Consumption, 2000-2030 ............................................. 24 4.5 Vietnam, Power Market, Power Consumption by Sector, 2011 .................................................. 26 Vietnam, Power Market, Infrastructure Overview............................................................................. 27 5.1 Vietnam, Power Market, Active Power Projects ........................................................................ 27 5.1.1 Leading Thermal Power Projects..................................................................................... 27 5.1.2 Leading Hydropower Projects ......................................................................................... 28 5.2 Vietnam, Power Market, Upcoming Power Projects .................................................................. 29 5.2.1 Leading Upcoming Thermal Power Projects .................................................................... 29 5.2.2 Leading Upcoming Hydropower Projects ......................................................................... 30 5.2.3 Leading Upcoming Renewable Power Projects ................................................................ 30 5.2.4 Leading Upcoming Nuclear Power Projects ..................................................................... 31 5.3 Vietnam, Power Market, Transmission Network Overview ......................................................... 32 5.4 Vietnam, Power Market, Distribution Network Overview ............................................................ 33 5.5 Vietnam, Power Market, Grid Connection ................................................................................. 34 Vietnam, Power Market, Regulatory Structure................................................................................. 35 6.1 Vietnam, Power Market, Regulatory Structure Overview ........................................................... 35 6.2 Electricity Laws ....................................................................................................................... 35 6.3 Introduction of Competition in the Power Market ....................................................................... 36 6.4 Renewable Energy Development ............................................................................................. 36 6.5 Energy Efficiency..................................................................................................................... 37 6.6 Rural Electrification.................................................................................................................. 37 Vietnam, Power Market, Competitive Landscape: Snapshot of Leading Power Generating Companies ..................................................................................................................................................... 38 7.1 Vietnam, Power Market, Market Share of Major Power Generating Companies ......................... 38 7.2 Key Company in the Vietnam Power Market, Electricity of Vietnam ........................................... 39 7.2.1 Electricity of Vietnam, Company Overview ....................................................................... 39 7.2.2 Electricity of Vietnam, Business Description..................................................................... 39 7.2.3 Electricity of Vietnam, SWOT Analysis............................................................................. 40 Appendix ....................................................................................................................................... 43 8.1 Market Definitions.................................................................................................................... 43 8.1.1 Power............................................................................................................................. 43 8.1.2 Installed Capacity ........................................................................................................... 43 8.1.3 Active Installed Capacity ................................................................................................. 43 8.1.4 Electricity Generation ...................................................................................................... 43 8.1.5 Electricity Consumption................................................................................................... 43 8.1.6 Thermal Power Plant ...................................................................................................... 43 8.1.7 Hydropower Plant ........................................................................................................... 43
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8.1.8 Nuclear Power ................................................................................................................ 43 8.1.9 Renewable Energy Resources ........................................................................................ 43 8.2 Abbreviations .......................................................................................................................... 44 8.3 Bibliography ............................................................................................................................ 44 8.4 GlobalData’s Methodology ....................................................................................................... 46 8.4.1 Coverage ....................................................................................................................... 46 8.4.2 Secondary research and analysis .................................................................................... 46 8.4.3 Primary Research and Analysis....................................................................................... 46 8.5 Contact Us .............................................................................................................................. 47 8.6 Disclaimer ............................................................................................................................... 47
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1.1
List of Tables
Table 1: Table 2: Table 3: Table 4: Table 5: Table 6: Table 7: Table 8: Table 9: Table 10: Table 11: Table 12: Table 13: Table 14: Table 15: Table 16: Table 17: Table 18: Table 19:
Power Market, Vietnam, Breakdown by Type of Power Plant (%), 2012 ................................ 12 Power Market, Vietnam, Cumulative Installed Capacity (MW) and Annual Power Generation (GWh), 2000-2030 .............................................................................................................. 14 Power Market, Vietnam, Installed Thermal Capacity (MW) and Annual Power Generation (GWh), 2000-2030 .............................................................................................................. 16 Power Market, Vietnam, Installed Hydro Capacity (MW) and Annual Power Generation (GWh), 2000-2030 .......................................................................................................................... 18 Power Market, Vietnam, Installed Renewable Capacity (MW) and Annual Power Generation (GWh), 2000-2030 .............................................................................................................. 20 Power Market, Vietnam, Installed Nuclear Capacity (MW) and Annual Power Generation (GWh), 2000-2030 .............................................................................................................. 22 Power Market, Vietnam, Total Annual Imports and Exports (GWh), 2000-2010 ..................... 23 Power Market, Vietnam, Annual Power Consumption (GWh), 2000-2030.............................. 25 Power Market, Vietnam, Breakdown of Electricity Consumption, by Sector (%), 2011............ 26 Power Market, Vietnam, Leading Active Thermal Power Projects ......................................... 27 Power Market, Vietnam, Leading Active Hydropower Projects .............................................. 28 Power Market, Vietnam, Leading Upcoming Thermal Power Projects, 2012.......................... 29 Power Market, Vietnam, Leading Upcoming Hydropower Projects, 2012 .............................. 30 Power Market, Vietnam, Leading Upcoming Renewable Power Projects, 2012 ..................... 30 Power Market, Vietnam, Leading Upcoming Nuclear Power Projects, 2012 .......................... 31 Power Market, Vietnam, Transmission Line Length (Ckm), 2000-2020 ................................. 32 Power Market, Vietnam, Distribution Line Length (Ckm), 2000-2020..................................... 33 Electricity of Vietnam, SWOT Analysis................................................................................. 40 Abbreviations...................................................................................................................... 44
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1.2
List of Figures
Figure 1: Power Market, Vietnam, Breakdown by Type of Power Plant (%), 2012 ................................ 12 Figure 2: Power Market, Vietnam, Cumulative Installed Capacity (MW) and Annual Power Generation (GWh), 2000-2030 .............................................................................................................. 13 Figure 3: Power Market, Vietnam, Installed Thermal Capacity (MW) and Annual Power Generation (GWh), 2000-2030 .............................................................................................................. 15 Figure 4: Power Market, Vietnam, Installed Hydro Capacity (MW) and Annual Power Generation (GWh), 2000-2030 .......................................................................................................................... 17 Figure 5: Power Market, Vietnam, Installed Renewable Capacity (MW) and Annual Power Generation (GWh), 2000-2030 .............................................................................................................. 19 Figure 6: Power Market, Vietnam, Installed Nuclear Capacity (MW) and Annual Power Generation (GWh), 2000-2030 .............................................................................................................. 21 Figure 7: Power Market, Vietnam, Total Annual Imports and Exports (GWh), 2000-2010 ..................... 23 Figure 8: Power Market, Vietnam, Annual Power Consumption (GWh), 2000-2030.............................. 24 Figure 9: Power Market, Vietnam, Breakdown of Electricity Consumption, by Sector (%), 2011............ 26 Figure 10: Power Market, Vietnam, Market Share of Major Power Generating Companies by Cumulative Installed Capacity (%), 2011................................................................................................ 38
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2
Introduction
Vietnam is a developing country which in spite of political and military turmoil has shown a lot of development in the last few decades. The country has a socialist republic form of government, which is governed through a very centralized system dominated by the Vietnamese Communist Party. The country’s government, over a period of time, has undertaken liberalization initiatives for the development and economic growth of the country. Vietnam joined the World Trade Organization in 2007, and it is also a member of various other international organizations, such as the Asia-Pacific Economic Corporation, the Association of South East Asian Nations (ASEAN) and the International Chamber of Commerce. Vietnam’s economy is fairly liberalized. Even so, it is still dominated by state-owned enterprises. As a step towards liberalization the government launched its “three pillar” economic reforms program. This program proposes the restructuring of public investments, state-owned enterprises and the banking sector. With these reforms the government plans to transform Vietnam into a more export-oriented and competitiondriven economy. In 2011, the country’s total exports were valued at $XX billion (CIA, 2012). Major export items were marine products, electronics and crude oil. China and Japan remains the major investor in the country. The country’s government is also endeavoring to establish trade relationships with other developing nations. In 2010, the country became an official negotiating partner in the Trans-Pacific Partnership trade agreement. With an estimated Gross Domestic Product (GDP) of $XX billion (at current prices) in 2012, Vietnam registered an estimated GDP growth rate of XX% in 2012. Vietnam’s economy is mainly export driven and was affected negatively by the global economic recession in 2008. However, the country’s economy has recovered considerably, and in 2012 exports increased by more than XX% (CIA, 2012). In 2012, the industrial sector is expected to contribute a share of XX% towards GDP. This resulted in the creation of new jobs within the country and an increase in the labor force. This in turn led to a decline in poverty within the country. The service and agricultural sector had a contribution XX% and XX% respectively towards the GDP of the country. The energy sector in Vietnam is managed by the Ministry of Industry and Trade (MOIT). A state-owned utility, Electricity of Vietnam (EVN), is responsible for most of the generation, transmission and distribution of electricity in the country. Power is predominantly generated by thermal sources, mainly coal- and gasfired power plants. Thermal power is used as the primary source of power generation, contributing about XX% of total installed capacity. The country has been utilizing its domestic coal resources for generation purposes; however, the best quality coal is exported. Coal reserves in the country are depleting and the government is looking to expand the energy mix. There are a lot of possibilities to develop renewable resources in the country. Vietnam has been taking initiatives to develop wind power in the country, since it has considerable wind power potential, which has still not been utilized. As part of the renewable energy policy in the country, the government is planning to focus on the country’s solar and geothermal potential as well. However, there are no concrete plans to produce energy from solar and geothermal energy on a large scale in the next couple of decades. Renewable energy sources currently account for XX% of installed power capacity. Vietnam is expected to record substantial growth in the wind energy segment, as the average prices of power generated from wind sources are now lower than the average prices of power generated from gas sources. The MOIT has been implementing some major reforms in the power sector. As part of the economic liberalization initiative, the ministry is planning to create a competitive market in the power sector.
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2.1
GlobalData Report Guidance
The report opens with an executive summary capturing key growth trends in Vietnam’s power market.
Chapter three provides a snapshot of Vietnam’s power sector.
Chapter four provides cumulative capacity and power generation information, as well as segmentation according to source of energy from 2000 to 2012, with forecasts to 2030. This is followed by the consumption scenario of the market between 2000 and 2012, with forecasts provided up to 2030.
Chapter five provides information on the power infrastructure in Vietnam, including details of leading active and upcoming power plants in the country, differentiated according to source of energy, as well as existing and planned developments in transmission and distribution infrastructure and crosscountry interconnections.
Chapter six provides a brief description of the power regulatory structure and prominent policies influencing the future of the power market.
Chapter seven describes the competitive landscape of Vietnam’s power market, with complete descriptions and SWOT analyses provided for leading companies.
Note: From year 2012 onwards the report provides actual or estimated data depending upon information available at the time of writing the report.
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4
Vietnam, Power Market Analysis 2020-2030
4.1
Vietnam, Power Market, Cumulative Installed Capacity, 2000-2030
4.1.1
Installed Capacity, Breakdown by Type of Power Plant, 2012
Thermal power was the dominant source of electricity in Vietnam in 2012, accounting for XX% of total installed capacity. This was followed by hydropower plants, which accounted for XX% of installed capacity in 2012. Renewable power contributed XX% towards cumulative installed capacity in 2012. Figure 1:
Power Market, Vietnam, Breakdown by Type of Power Plant (%), 2012 Renewable
Hydro Thermal
Source: GlobalData; Power eTrack, Capacity and Generation Database [Accessed on January 8, 2013]
Table 1:
Power Market, Vietnam, Breakdown by Type of Power Plant (%), 2012
Type of Power Plant
Percentage Share (%)
Thermal Hydro Renewable Source: GlobalData; Power eTrack, Capacity and Generation Database [Accessed on January 8, 2013]
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4.2
Cumulative Installed Capacity and Annual Generation, 2000-2030
Vietnam total installed capacity was estimated to be XX MW in 2012, which grew from XX MW in 2000 at a CAGR of XX%. Of this, thermal power is estimated to have the highest share, XX% or XX MW in 2012, followed by hydro, with a XX% share, or XX MW. Renewable power had a XX% share, or XX MW. In 2000, thermal power constituted XX%, or XX MW, of total installed capacity. Hydropower constituted XX%, or XX MW. Renewable power sources had not been introduced into the energy mix at that time. In 2009, renewable power made a contribution to cumulative installed capacity, XX MW, for the first time. During the forecast period 2013-2030, the total installed capacity of Vietnam is expected to grow at a CAGR of XX% from XX MW in 2013 to XX MW in 2030. While thermal power is expected to grow at a CAGR of XX%, representing XX% of total installed capacity; hydropower is expected to grow at a CAGR of XX%, accounting for an XX% share of the total capacity in 2030. Renewable power is expected to grow from XX MW in 2013 to XX MW in 2030. Renewable energy sources are expected to register the highest increase in capacity, with a CAGR of XX%. This is because the government has been encouraging the installation of renewable capacity. New wind power and biomass plant installations combined with tax incentives and benefits, are likely to result in a significant rate of adoption of renewable sources of energy over the forecast period. Furthermore, Vietnam has undertaken a feasibility study of nuclear power, which would further augment cumulative installed capacity. The nuclear power reactors expected to come online after 2020 are expected to add about XX MW of generating capacity. Power generation in the country is expected to grow at a CAGR of XX%, from XX Gigawatt hours (GWh) in 2000 to XX GWh in 2012. In 2012, thermal power is estimated to account for XX% of the total annual generation, while hydropower and renewable generation are estimated to account for XX% and XX%, respectively. Total power generation is expected to grow at a CAGR of XX% from 2013 to 2030, or XX GWh to XX GWh. During the same period, renewable power generation is expected to grow at the rate of XX%, followed by thermal power generation at XX%, while hydropower is expected to put in a CAGR of XX% between 2013 and 2030. Nuclear power generation is expected to be a part of the country’s energy mix after 2020, and it is expected to witness a CAGR of XX% during 2020-2030. Power generation through nuclear resources will witness an increase if the country meets its capacity addition targets. Power Market, Vietnam, Cumulative Installed Capacity (MW) and Annual Power Generation (GWh), 2000-2030
2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030
Annual power generation (GWh)
Cumulative installed capacity (MW)
Figure 2:
Cumulative installed capacity (MW)
Annual power genration (GWh)
Source: GlobalData; Power eTrack, Capacity and Generation Database [Accessed on January 8, 2013]
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Table 2: Year
Power Market, Vietnam, Cumulative Installed Capacity (MW) and Annual Power Generation (GWh), 2000-2030 Cumulative Installed Capacity (MW)
Annual Power Generation (GWh)
2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 Source: GlobalData; Power eTrack, Capacity and Generation Database [Accessed on January 8, 2013]
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8
Appendix
8.1
Market Definitions
The geographical coverage of this report is Vietnam. The report covers market segments related to installed electricity capacity, generation, consumption, and power infrastructure and regulations. The report covers the whole of Vietnam for a quantitative and qualitative assessment of its power market.
8.1.1
Power
The rate of production, transfer, or energy use, usually related to electricity. Measured in watts and often expressed in kilowatts (kW) or Megawatts (MW). It is also known as "real" or "active" power.
8.1.2
Installed Capacity
Installed capacity refers to the generator’s nameplate capacity as stated by the manufacturer or the maximum rated output of a generator under given conditions. Installed capacity is given in Megawatts (MW) on a nameplate affixed on the generator.
8.1.3
Active Installed Capacity
Active installed capacity refers to that component of electric power that actually performs work. It is given in Kilowatts (kW) or Megawatts (MW).
8.1.4
Electricity Generation
The production of electric energy, achieved through the transformation of other forms of energy. Also refers to the amount of electric energy produced. Expressed in Gigawatt-hours (GWh).
8.1.5
Electricity Consumption
Consumption of electricity calculated as generation, plus imports, minus exports, minus transmission and distribution losses. Measured in Gigawatt hours (GWh).
8.1.6
Thermal Power Plant
A plant in which turbine generators are driven by burning fossil fuels.
8.1.7
Hydropower Plant
A plant in which turbine generators are driven by falling water.
8.1.8
Nuclear Power
The electricity generated by the use of the thermal energy released from the fission of nuclear fuel in a reactor.
8.1.9
Renewable Energy Resources
Naturally replenishing energy resources limited in the amount of energy that is available per unit of time. For example, biomass, geothermal, solar, wind can all be termed as renewable resources.
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8.2
Abbreviations
Table 19:
Abbreviations
Full Form
Abbreviations
Asia Pacific Economic Corporation
APEC
Association of South East Asian Nation
ASEAN
Circuit Kilometres
Ckm
Combined Cycle Gas Turbine
CCGT
Compound Annual Growth Rate
CAGR
Electricity of Vietnam
EVN
Electricity Regulatory Authority of Vietnam
ERAV
Gigawatt hours
GWh
Greater Mekong Sub-region
GMS
Gross Domestic Product
GDP
Independent Power Producers
IPP
International Chamber of Commerce
ICC
Kilometres
km
Kilovolt
kV
Kilowatt hours
kWh
Megavolt Ampere
MVA
Megawatt
MW
Ministry of Industry and Trade
MOIT
National Power Transmission Corporation
NPT
Renewable Energy Action Plan
REAP
Terawatt hours
TWh
Vietnam Energy Efficiency Program
VNEEP
Vietnamese Dong
VND
World Trade Organization
WTO
Source: GlobalData
8.3
Bibliography
ADB (2011). Proposed Multitranche Financing Facility Socialist Republic of Viet Nam: Power Transmission Investment Program (MFF). Asian Development Bank. Available from: http://www2.adb.org/documents/rrps/vie/42039/42039-033-vie-rrp.pdf.
ADB (2012). Lao PDR -Vietnam Power interconnection project. Asian Development Bank. Available from: http://www.adb.org/projects/41450-013/details. [Accessed on January 9, 2013].
Asia Miner (2010). Vietnam-Coal Imports by 2013. The Asia Miner. Availabel from: http://www.asiaminer.com/magazine/current-news/news-archive/114-march-2010/2465-vietnam-coalimports-by-2013.html [Accessed on January 9, 2013]
CIA (2012). CIA World Fact book- Vietnam. Central Intelligence Agency. Available from: https://www.cia.gov/library/publications/the-world-factbook/geos/vm.html [Accessed on January 9, 2013]
EIA, 2012a. Vietnam - Total Electricity Imports [database], Energy Information Administration. Available from: http://www.eia.gov/cfapps/ipdbproject/iedindex3.cfm?tid=2&pid=2&aid=3&cid=VM,&syid=2000&eyid= 2011&unit=BKWH [Accessed on: Accessed on January 9, 2013]
Vietnam Power Market Outlook to 2030 - Market Trends, Regulations and Competitive Landscape
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EIA, 2012b. Vietnam - Total Electricity Exports [database, Energy information Administration. Available from: http://www.eia.gov/cfapps/ipdbproject/iedindex3.cfm?tid=2&pid=2&aid=4&cid=VM,&syid=2000&eyid= 2011&unit=BKWH [Accessed on January 9, 2013]
MOIT (2012) via Intellaisa. Vietnam faces serious power shortage. Intellaisa, August 28, 2011. Available from: http://www.intelasia.net/vietnam-faces-serious-power-shortage-2-228679 [Accessed on January 9, 2013]
Nguyen Anh Tuan (2012). A case study on Power restructuring in Vietnam. The National Bureau of Asian Research. Available from: http://www.nbr.org/downloads/pdfs/eta/PES_2012_summitpaper_Nguyen.pdf.
PEI (2012) via My Digital Publications. Vietnam. Power Engineering International, Available from: http://www.mydigitalpublication.com/display_article.php?id=1040007 [ Accessed on January 9, 2013]
Sonal Patel (2012). Vietnam Works hard to power economic growth. Power- Business and Technology for the Global Generation Industry March 1 2012. Available from: http://www.powermag.com/business/Vietnam-Works-Hard-to-Power-Economic-Growth_4436_p6.html [ Accessed on January 9, 2013]
VESCO (2009). Vietnam Power Consumption to triple by 2020. Vietnam Energy Service Joint Stock Company. Available from: http://vesco.vn/web_en/index.php?option=com_content&task=view&id=25&Itemid=38 [Accessed on January 9, 2013]
VietNam Net (2012). Vietnam Still doesn’t have national standards on hydro power plants. VietNam Net Online Newspaper November 21, 2012. Available from: http://english.vietnamnet.vn/fms/environment/53001/vietnam-still-doesn-t-have-national-standardson-hydropower-plants.html [Accessed on January 9, 2013]
VIR (2012).Coal Industry seeks 15 bln for development by 2020. Vietnam Investment Review. Available from: http://www.vir.com.vn/news/business/coal-industry-seeks-15-bln-for-development-by2020.html [ Accessed on January 9, 2013]
World Bank (2012). The Worldwide Governance Indicators, 2012 Update. The World Bank Group, Available from: http://info.worldbank.org/governance/wgi/pdf/wgidataset.xlsx [Accessed on January 9, 2013]
World Bank (2013). Doing Business-Economy Rankings. The World Bank. Available from: http://www.doingbusiness.org/data/exploreeconomies/vietnam/ [Accessed on January 9, 2013]
WNA (2012). Nuclear Power in Vietnam. World Nuclear Association. Available from: http://www.world-nuclear.org/info/vietnam_inf131.html [Accessed on January 9, 2013]
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8.4
GlobalData’s Methodology
GlobalData’s dedicated research and analysis teams consist of experienced professionals with backgrounds in marketing, market research and consulting in the power industry, and advanced statistical expertise. GlobalData adheres to the codes of practice of the Market Research Society (www.mrs.org.uk) and the Strategic and Competitive Intelligence Professionals (www.scip.org) . The following research methodology is followed for all country outlook reports.
8.4.1
Coverage
This report gives detailed information on Vietnam’s power market. It examines the country’s power market structure and provides historical and forecast numbers for generation, capacity, and consumption, up to 2030. The report provides insights on the market’s regulatory structure, import and export trends, competitive landscape and leading active and upcoming power projects. The report also provides a snapshot of the country’s power sector by analyzing the power sector of the country on broad parameters of supply security, regulatory scenario, infrastructure, macro-economics, competition and future potential. Each parameter has a weight assigned, and a weighted average score is calculated to obtain the country’s ranking in the region.
8.4.2
Secondary research and analysis
The capacity, generation and consumption data is collected and validated using a number of secondary resources, including, but not limited to:
Government agencies, ministerial websites, industry associations, the World Bank, statistical databases
Company websites, annual reports, financial reports, broker reports and investor presentations
Industry trade journals, market reports and other literature
GlobalData’s proprietary databases like the Capacity and Generation Database, Power Plant Database and Transmission and Distribution Database.
Further to this, the following secondary information is collected and analyzed to project the country’s power market scenario through to 2030, analyzing factors such as the following:
The country’s macro-economic scenario
Government regulations, policies and targets
Government and private sector investments
Contract and deal announcements
Utility expansion plans
The sector’s historic track record
Other qualitative insights built through secondary research and analysis of company websites, annual reports, investor presentations, industry and trade journals, and data from industry associations.
8.4.3
Primary Research and Analysis
Secondary research is further complemented through primary interviews with industry participants to verify and fine-tune the market numbers obtained through secondary research and get first-hand information on industry trends. The participants are drawn from a diverse set of backgrounds, including equipment manufacturers, industry associations, government bodies, utilities, distributors, and academia. The participants include, but are not limited to, C-level executives, industry consultants, academic experts, business development and sales managers, purchasing managers, plant managers, government officials, and industry spokespeople.
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8.6
Disclaimer
All Rights Reserved. No part of this publication may be reproduced, stored in a retrieval system or transmitted in any form by any means, electronic, mechanical, photocopying, recording or otherwise, without the prior permission of the publisher, GlobalData.
This report is a licensed product and should not to be reproduced without prior permission.
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