Vietnam retained stable energy supplies in 2026, report says

Vietnam avoided nationwide blackouts and rotating electricity cuts in 2026 despite global supply disruptions, according to the 2026 Vietnam Energy Security Report. Presented on November 10 in Hanoi, it placed Vietnam among 13 countries that sustained stable energy security.

The report estimates that domestic generation and imported electricity will reach 356.2 billion kWh in 2026, a year-on-year rise of 10.3%. Demand peaked on June 24 at 57,537 MW nationally, with 30,248 MW recorded in northern Vietnam.

Record temperatures and El Niño increased electricity consumption, the report said. It forecasts a drop of 18.5 billion kWh in Vietnamese hydropower production from 2025 levels. Meanwhile, a blockade lasting six months at the Strait of Hormuz drove Brent crude as high as US$118.35 per barrel.

Petroleum supplies remained steady, with the country's two refineries producing about 12.1 million tonnes during the first nine months. The report said Vietnam broadened its crude supply sources and prevented fuel shortages without tapping national reserves.

The assessment anticipates continued energy security pressures in 2027, followed by tougher conditions in 2028. It expects annual electricity demand growth of around 10%, while warning that additional baseload capacity may arrive too late. El Niño could last until around June 2027.

Net imports represent approximately 44% of primary energy supply, which the report identified as a vulnerability alongside small petroleum reserves and increasing strain on the northern grid. Its recommendations included larger national energy reserves and special mechanisms to expedite urgent generation and transmission schemes.

The Ministry of Industry and Trade, which organised the forum where the findings were presented, also outlined plans for an online portal carrying energy security information.