PetroVietnam Power Corporation (PV Power) has just announced its business results for August, with total revenue reaching nearly VND1.87 trillion (US$78.9 million), up 3 per cent year-on-year and exceeding 16 per cent of the set plan.

In August, its electricity output was about 967.6 million kWh, almost unchanged compared to the same period last year.

For the first eight months of 2022, PV Power posted a total revenue of VND18.54 trillion, a decline of 7.6 per cent over last year, while its electricity output reached more than 9.1 billion kWh.

Nhon Trach 2 Thermal Power Plant and Vung Ang 1 Power Plant continued to be the two largest contributors to the total revenue, with VND790 billion and VND482 billion, respectively, accounting for 42 and 26 per cent of last month’s revenue.

Leaders of PV Power said that the weather conditions have had a significant impact on its operations last month, as August was the rainy season in the north and south. Storm No. 2 and heavy rain hit the northern provinces in the first half of the month, with 100-200mm of rain falling on average.

The company achieved its target of electricity output of 832 million kWh in September, resulting in revenue of VND1.36 trillion, down 14 per cent and 27 per cent over last year, respectively.

In early September, PV Power announced that it would contribute 30 per cent of its capital and establish Quang Ninh LNG Power JSC. — VNS