On 7 November, Minister of Industry and Trade Le Manh Hung chaired a conference on the national power system's operating plan and electricity supply for 2027–2028, linked online with 34 provinces and cities, the National Power System and Market Operator (NSMO) and state groups and corporations. The meeting set out eight key solution groups to keep power supply ahead of fast-rising demand.
Strong demand growth – a sign of an accelerating economy
According to figures presented, electricity generated and imported in 2026 is estimated at 356.2 billion kWh, up 10.3% on 2025 and above the base scenario. System peak capacity reached 57,537 MW in June 2026. The north consumed about 170.8 billion kWh, up 11.9%; nationwide load in Q4 2026 is expected to rise about 13%, and about 14% in the north.
Challenges remain: reservoir inflows are only about 80% of the multi-year average, full-year hydropower output is expected to be about 18.5 billion kWh lower than in 2025, and El Niño may last until around June 2027.
The eight solution groups
- Finalise the operating plan for 2027, through 2028 and longer term, including double-fault scenarios; put Digital Twins into operation by Q1 2027 at the latest.
- Fill hydropower reservoirs to the maximum until 31 December 2026 and hold levels until the end of March 2027.
- Maintain available capacity, prioritising thermal plant maintenance from January to April.
- Secure coal, gas and oil; finalise a mechanism for additional imported LNG and connect the Cai Mep LNG terminal with Thi Vai.
- Speed up key generation and grid projects, prioritising 500 kV substations supplying the north; increase power imports.
- Add peak capacity through battery energy storage systems (BESS) and rooftop solar at industrial parks, offices and large customers.
- Manage demand, cutting at least 3,000 MW of northern peak load in 2027.
- Assign responsibilities through a matrix tied to inspection and evaluation.
Opportunities for energy businesses
Earlier, under Official Letter 10790/VPCP-CN dated 22 October 2026, the Prime Minister called for a mechanism to rapidly develop BESS, encourage rooftop solar at industrial parks and clusters, and bring the Na Duong 2 and Quang Trach I thermal plants into commercial operation in 2026. This consistent direction opens room for electrical equipment, storage, renewable energy and transmission construction businesses.
Key takeaways
- 2026 power generation and imports are estimated at 356.2 billion kWh, up 10.3%, with northern demand growing fastest.
- The eight solution groups focus on hydropower storage, fuel, 500 kV grids, BESS and demand management.
- Energy storage and industrial-park rooftop solar are policy priorities.