During the period 2012-2022, Vietnam's electricity consumption has a compound annual growth rate (CAGR) of 8.67%, showing a sustainable growth trend. However, in 1Q2023, the total commercial power output decreased by 1.6% YoY while GDP grew by 3.32%.
The hydropower segment has been highly prioritzed to mobilize in 2021 and 2022 thanks to the favorable weather. However, in 2023 with the reverseof the El Nino phenomenon, we believe that the hydropower group will be less mobilized
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