Its establishment is based on the re-organisation of Power Company No 1 and the Corp serves as a subsidiary of the state-owned Electricity of Vietnam Group (EVN).  

Deputy Prime Minister Hoang Trung Hai attended the event. State President Nguyen Minh Triet, Prime Minister Nguyen Tan Dung, and Chairman of the National Assembly Nguyen Phu Trong sent congratulatory flower baskets.

Addressing the event, Deputy PM Hai said the new structure will help EVN NPC enter the fast-growing power market with a good chance of long-term stability.

He cautioned that EVN NPC should strive to stay competitive and ensure high-quality service to its customers throughout the 27 provinces of Vietnam’s northern and north-central regions.

In addition to greater operational efficiency, the re-organisation is expected to increase the unit’s capacity to use capital effectively.