Payments force limited Vietnamese power reform

摘要

State oil and gas company Petrovietnam is running in to the same payment problems that prompted its takeover of a number of coal-fired projects from state-owned power utility Electricity of Vietnam (EVN) and other cashstrapped state-owned enterprises in the second half of the 2000s. The company has warned that its ability to proceed with the various projects has been jeopardized by the need to buy coal at market prices, whereas the power sales tariffs it receives are not fully cost reflective.