Vietnam

With a power score of 2.31, Vietnam ranks number 28 among Emerging markets and number 10 in the Asia-Pacific region.

Power score
2.31/5

Fundamentals3.31/5

Opportunities1.24/5

Experience1.39/5

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Ranking over time2.31/5

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Vietnam has a power score of 2.31, which puts it at rank 28 in the Emerging Markets power ranking. The power score of Vietnam is higher than the average of 2.17 in the Asia-Pacific region.

Regional comparison chart

In the chart above all geographies within the region are arranged by power score from left to right. The circles are sized based on the population.

Power

Power policy

Vietnam implements policies in 5/8 categories tracked by Climatescope; Renewable energy target, Auctions/tenders (utility-scale), Feed-in tariff/premium (utility-scale), Tax incentives, and REC'S - Renewable Energy Certificates

Renewable energy target

Auctions/tenders (utility-scale)

Feed-in tariff/premium (utility-scale)

Support for customer-sited generation (rooftop and self-consumption)

Tax incentives

Renewables mandate/RPS/Supplier Obligation

REC'S - Renewable Energy Certificates

Priority generation dispatch

Power prices and costs

The average electricity price in Vietnam has decreased from ~$103/MWh in 2023 to ~$101/MWh in 2024. Since 2019, the average electricity price in Vietnam has fluctuated between ~$96/MWh in 2022 and ~$103/MWh in 2023.

Electricity prices in Vietnam (2019-2024)

Power market

The top amount of capacity installed in Vietnam in 2024 was in Coal at 28.19GW, up from 26.76GW in 2023.

Installed capacity (2019-2024)

Electricity generation (2019-2024)

The technology with the largest share of electricity generated in Vietnam in 2024 was Coal at 152.78TWh, up from 120.35TWh in 2023.

Investment in Vietnam (2019-2024)

Investment in clean energy in Vietnam was around $692.90M in 2024. This amounts to a decrease of around 36% from $1.09Bn in 2023.

Utility privatisation

Which segments of the power sector are open to private participation?

generation

transmission

retail

Doing business and barriers

Type

Question

Availability

Bilateral power contracts

Can a C&I (Commercial and Industrial) customer sign a long-term contract (PPA) for clean energy?

Currency of Corporate PPAs

Are other PPAs (eg. corporate PPAs) signed in or indexed to U.S. Dollars or Euro?

Fossil fuel price distortions - Subsidies

Does the government keep the wholesale price of electricity from fossil fuels artificially low through subsidies?

Fossil fuel price distortions - Taxes and carbon prices

Does the government significantly increase the wholesale price of electricity from fossil fuel through targeted taxes and/or carbon prices?

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