VIETNAM NATIONAL UNIVERSITY HCMC

INTERNATIONAL UNIVERSITY
SCHOOL OF INDUSTRIAL ENGINEERING & MANAGEMENT

PROJECT
Presenting Energy Price Dynamics: A Comparative
Study of Vietnam, Denmark & Spain
Module code: IS019IU
Module name: Production Management
Lecturer: Prof. TRẦN VĂN LÝ

GROUP 6:

Alvaro Rodriguez Marin – EE23EX001

William Skovgaard Berg Larsen – BA23EX018

Nguyễn Đình Hoàng - IELSIU22304

Nguyễn Trần Hưng – IELSIU22300

Hồ Thị Uyên Phương – IEIEIU22106

Lê Thị Như Tâm – IEIEIU22068

Đào Minh Tấn – IEIEIU22083

Nguyễn Hoàng Song Tuyên – IEIEIU22084

 ACKNOWLEDGEMENTS
During the implementation of the project, despite facing some difficulties due to interruptions, our group was able to
complete the work thanks to the assistance of various people. Especially, this lesson can not be completed successfully
without guidance from the beloved supervisor

First of all, our group would like to especially thank the advisor M.Eng.Tran van Ly for the support, valuable advice
and ideas throughout the project, for his patience, motivation, enthusiasm and extensive knowledge.

We would like to express our sincere thanks to the members of the class for spending time to listen, and for all the
feedback to make our group more accomplishable. The presence of our classmates contributed to making the
presentation more meaningful and successful.

Finally, the group member's helpful contribution to the project must be recognized. The group went through many
discussions, with members contributing their documents, knowledge and skills to build the lesson. Despite
considerable effort, each member remains accountable and on track. The knowledge and skills we have gained in
inventory management through this Production Management course will surely have a good impact on our future
employment and our capacity to contribute successfully to businesses.

ABSTRACT
The presentation is intended to provide information and summarize the lesson of that project for all students
in the class and also to help us gain a deeper understanding of our project follows and also help them to
improve their skills. Take teamwork skills to a new level. We are presented in the 14th week of the course,
which is also enough time for us to prepare and find the lesson information more thoroughly, with more
information as well as combine with the subject matter. Actively seeking information, self-researching,
collecting and analyzing factual information of team members from the subjects we have been working on or
subjects from our faculty. This presentation helps us to grasp the knowledge of the project.
 CHAPTER 1:
INTRODUCTION
1.1 Objectives
- The project's fundamental purpose is to understanding the Demand, Capacity, Household
Usage and Future Trend in three countries Denmark, Spain and Vietnam.
- The major task is to understand more clearly the differences the consumption energy in the
three countries and provide example for students to see those differences.

- After the presentation, being able to convey to my classmates a deeper understanding of

the consumption energy in three differences countries.
- Teamwork encourages people to show off their talents and gain from one another while
also boosting confidence, responsibility, and trust to develop healthy relationships. It also
enables people to collaborate more efficiently and manage their time

1.2 Advantages
Energy price dynamics refer to the fluctuations in energy prices over time. A comparative study of energy
price dynamics in Vietnam, Denmark, and Spain offers several advantages. Some of these advantages are:

 Understanding the impact of energy pricing on the economy: A comparative study of energy price dynamics
in different countries can help us understand the impact of energy pricing on the economy. For instance, in
Vietnam, where energy prices are heavily subsidized, a study can reveal the extent to which the subsidies
affect the economy.
 Identification of best pricing practices: By comparing energy pricing in different countries, we can identify
best pricing practices. Denmark, for example, has implemented policies that support renewable energy, and a
study can reveal how these policies affect energy pricing in the country.
 Opportunities for learning: A comparative study of energy price dynamics can uncover lessons that other
countries can learn. Spain, for instance, has implemented policies that encourage energy efficiency, and a
study can reveal how these policies have impacted the energy sector.

Insights into future energy pricing: A comparative study can offer insights into future energy pricing. For instance, by
understanding the factors that drive energy pricing in different countries, we can make predictions about future pricing
in those countries.

1.3 Scopes and Limitations

1.3.1 Scopes
In this report, we have analyzed and compared the energy price dynamics of Vietnam, Denmark, and Spain.
The scope of this research is to investigate the factors that influence energy prices and their impact on the
economy of these nations. By examining the energy sources and pricing policies of each country, we can
provide insights into the strengths and weaknesses of their energy markets.

1.3.2 Limitations
When it comes to studying the energy price dynamics of different countries, it is important to keep in mind
the various limitations that can impact the accuracy and comprehensiveness of the analysis. In this
 comparative study of Vietnam, Denmark, and Spain, several limitations were identified and should be taken
into consideration.

CHAPTER 2: PROGRESS
2.1 Methodology

2.1.1 Job Assignment

Willia Đình Trần Uyên Như Minh Song
Task Alvaro m Hoàng Hưng Phương Tâm Tấn Tuyên
Content x x x x x x x x
Powerpoint x x x x x x x x
Q&A x x x
Presentatio
n x x x x x x x x
Report x x x x x x x x
Check
report x
Submit x

2.1.2 Contents Distribution

Part Outline In charge

Overview (Price per
kWh, household
1
consumption and
Vietnam energy) Đình Hoàng
Demand & Future
2 (Capacity, limit & future
trends) Song Tuyên
Overview (Price per
kWh, household
3
consumption and
Denmark energy) William
Demand & Future
4 (Capacity, limit & future Uyên
trends) Phương
Overview (Price per
kWh, household
5
consumption and
Spain energy) Alvaro
Demand & Future
6 (Capacity, limit & future
trends) Minh Tấn
7 Comparision of all Như Tâm
8 Production Expample Trần Hưng
CHAPTER 3: OVERVIEW

I. VIETNAM – OVERVIEW
1.1 Overview of Vietnam: Price per kWh, consumption, energy source, etc.
- As of March 2023, the price of electricity in Vietnam is 0.077 U.S. Dollar per kWh for households
and 0.073 U.S. Dollar for businesses.

- The total consumption of electric energy per year in Vietnam is 199.85 billion kWh. Per capita, this is
an average of 2,035 kWh. However, the household consumption of electricity per capita was about
589.4 kilowatts per hour in 2016.

- Vietnam has a diverse energy fuel resource of various types such as coal, natural gas, petroleum,
hydropower, and renewables such as solar and wind energy. Coal has been the key power generation
source since 2018, accounting for about 30% of installed capacity and 47% of electricity generation
in 2021.

- Vietnam’s energy comes from a mix of sources. The country relies significantly on coal imports
because coal-fired power plants have been used to meet rapidly increasing electricity demand. More
than half of Vietnam’s electricity generation came from coal in 2020.

- The country also relies significantly on hydroelectric generation and is home to several large rivers,
including the Mekong. At the end of 2018, hydropower was the largest source of renewable energy,
contributing about 40% to the total national electricity capacity.

I.2 Current Energy Demand and Capacity

 The power production and demand in Vietnam amounted to 226 billion Kilowatt-hours in the first 10
months of 2022.

 Vietnam’s installed capacity is set to increase to about 70 gigawatts (GW) by the end of 2022. To
meet the growing demand, Vietnam needs to increase its installed capacity by 6,000MW - 7,000MW
annually and spend close to US$148 billion by 2030.

 Vietnam relies on a diverse energy mix that includes fossil fuel sources such as coal, gas, and
petroleum, as well as renewable ones, namely hydropower and solar energy.

 The total energy supply in 2020 was 4,584,322 TJ, with renewables accounting for 19% of the total
supply.

1.3 Potential Risks of Energy Shortage

 The country heavily depends on hydroelectricity, which exposes it to the risk of water shortage in the
dry season. This can lead to power shortages, especially in northern Vietnam.
  Power shortages can cause a myriad of problems for businesses, including disruptions in business
operations and communications. This is particularly problematic for the export sector.

 Power outages can lead to traffic disruptions due to malfunctioning traffic signals and delays in train
services if outages impact signaling devices or overhead wires.

1.4 Future Trends: Renewable Energy Sources

 Vietnam is the most naturally suited country in Southeast Asia to develop wind and solar energy,
with the technical potential of 1,000 gigawatts (GW). However, current renewable-energy projects
are no longer consistently economically viable.

 Vietnam needs to invest in, build, and integrate more solar and wind power to provide 50 or 100
percent renewable energy (RE50/RE100) in an economically viable way.

Maps of Vietnam highlighting energy production areas

1.5 Energy Demand Over the Years:

 The power production and demand in Vietnam amounted to 226 billion Kilowatt-hours in the first 10
months of 2022.
 The electricity demand in Vietnam is forecast to continue to increase at an average rate of 9% a
year from 2021 onwards. To meet the growing demand, Vietnam needs to increase its installed
capacity by 6,000MW - 7,000MW annually.
II. VIETNAM: DEMAND, CAPACITY AND
FUTURE OF RENEWABLE ENERGY.

2.1 Demand
 The graph illustrates power production and demand in Vietnam from 2013 to the first 10 months into
2022 (in billion kWh). By looking at the starting point, we can see that there was an upward trend in
demand. To be exact the figure increased from 125 to 225.

 This one shows oil consumption from 2013 to 2022 (in 1000 barrels per day). By applying the same
technique, it is clear that this graph also had an upward trend over the 10-year period. Starting with
the figure of 360 and ending with 510.

 From the two graphs, we can conclude that the need for energy in Vietnam has risen by a lot over the
past couple of years and does not seem to be stopping any time soon. This may has been resulted
from the country’s fast growing economy and population.

II.2Capacity and future of renewable energy in Vietnam

  By having a glance at the two pie charts, we can see that the colors of the second one are more evenly
distributed. This means that Vietnam is opting for a diversity approach. In other words, the country is
aiming to change focus from hydro, solar power to other types of renewable energy. Most notably
wind power, which skyrockets from 0.7% to 14.8%. Another detail worth mentioning is a policy on
gas imports will be introduced later down the line.

 Challenges: Despite the yearly increase in power capacity generated from key sources, Vietnam still
faces the ongoing challenge of power deficiency. According to the government’s estimation, the
volume of electricity deficiency will reach 12 billion kilowatt-hours in 2023. While electricity
imports have been a temporary solution in recent years, the country is attempting to address this issue
with the domestic production of other renewable energy sources apart from hydropower. This
includes the further advancement of wind, solar, and biomass energy, whose capacity has been
picking up slowly, and geothermal and tidal energy, which are still in the very early stages of
development. At the same time, Vietnam has recently decided to scale down major coal power plant
projects and closed several small hydropower plants to address the existing risks and environmental
consequences of these facilities. In the future, renewable sources are expected to reduce the country’s
dependency on coal and other fossil fuels.

2.3 What happens if we ran out of fossil fuels

 For starters, since the majority of our technologies still rely heavily on electricity from coals, there
would be power failures everywhere. Phone signals, the internet will be shut down, and internal-
combustion-engine cars will be unusable. A mass migration to will take place as people begin to
search for food sources. Cities will be abandoned, factories will no longer be operated which forces
many industries to close down. This results in a frozen economy.

 However, even though running out of coal may cause serious issues, it still have quite a few benefits.
Firstly, abandoned urban areas are going to be reclaimed by nature, meaning that wildlife will
flourish. Secondly, since there are not any coals left to burn, the effect of global warming will start to
fade away, the environment will be less polluted. Finally, we will have to completely shift focus on to
 the only remaining choice, renewable energy, which benefits both us and the environment in the long
term.

III. DENMARK – OVERVIEW

3.1 Overview of Denmark: Price per kWh, consumption, Energy Source etc.
 In this section, we investigate into an insightful overview of Denmark's energy structure, examining
key aspects that shape the nation's energy consumption and production. By exploring standard prices
for electricity and natural gas, we gain a comprehensive understanding of the economic dynamics at
play in Denmark's energy market.

Source 1: Unknown, S.D. (2023) Energy prices Of Denmark, Statistics Denmark. Available at:
https://www.dst.dk/en/Statistik/emner/miljoe-og-energi/energiforbrug-og-energipriser/energipriser
(Accessed: 19 December 2023).

 The prices shown above represent Denmark's energy market focusing on affordability and
accessibility. The standard prices per kilowatt-hour (kWh) for electricity are set at a reasonable 2.8
Danish Krone (DKK), complemented by a competitive standard price of 15.0 DKK per cubic meter
(m3) for natural gas.
 Source 1: Unknown, S.D. (2023) Energy prices Of Denmark, Statistics Denmark. Available at:
https://www.dst.dk/en/Statistik/emner/miljoe-og-energi/energiforbrug-og-energipriser/energipriser
(Accessed: 19 December 2023).

 The four different graphs above sourced from Denmark’s National Statistics, represents the price of
electricity and natural gas for households and non-households. As we can see the non-household
price of energy is lower since the companies have contracts with the energy suppliers and bulk
purchase resulting in lowering the cost of kwh and m3.

III.2 Consumption of Denmark

The graph below represents a stable trend in residential electricity usage from 2010 to 2021 measured in
terajoules.

Source 2: Unknown, U. (2022) Electricity consumption in the residential sector in Denmark from 2010 to
2021 (in terajoules), Statista. Available at:
https://www-statista-com.proxy1-bib.sdu.dk/statistics/703645/natural-gas-consumption-denmark/ (Accessed:
19 December 2023).

Source 3: Unknown, U. (2023) Natural gas consumption in Denmark from 2005 to 2022 (in billion cubic
meters), Statista. Available at: https://www-statista-com.proxy1-bib.sdu.dk/statistics/1015086/total-
household-electricity-consumption-in-denmark/ (Accessed: 19 December 2023).

 The graph above represents the natural gas consumption in Denmark from 2025 to 2022 measured in
billion cubic meters. As we can see the consumption level decreases year by year as Denmark wants
only to rely on renewable energy sources in the future. Additionally, a close examination of
household consumption patterns unveils the ways in which energy is utilized in everyday life. Since,
a growing rate of electricity vehicles has appeared over the last few years.
 III.3 Most popular energy sources.
 Furthermore, we shine a spotlight on the most popular energy sources driving Denmark's sustainable
energy agenda, providing a glimpse into the nation's commitment to environmentally conscious
practices. As we can see below, the pie chart represents the distribution of electricity generation in
Denmark in 2022 by source. It is evident that renewable energy sources are the main energy source,
as wind energy consists of 55.03% of the energy mix and bioenergy consists of 23.1%, this is very
impressive when compared to other European countries.

Source 4: Unknown, U. (2023a) Denmark distribution of electricity production by source 2022, Statista.
Available at: https://www-statista-com.proxy1-bib.sdu.dk/statistics/1235360/denmark-distribution-of-
electricity-production-by-source/ (Accessed: 19 December 2023).

 The wind energy source is obtained from both onshore and offshore active wind power turbines,
showcasing Denmark's dedication to sustainable practices. It is clear that the supply cannot keep up
with demand so in 2022 Denmark imports electricity from various countries such as Sweden,
Norway, Germany, and the Netherlands, amounting to 18,752 gigawatt-hours. This can be seen in the
graph below.

Source 5: Unknown, U. (2022b) Number of active

wind power turbines in denmark by site, Statista. Available at:
https://www-statista-com.proxy1-bib.sdu.dk/statistics/990776/number-of-active-wind-power-turbines-in-
denmark-by-site/ (Accessed: 19 December 2023).
Source 6: Unknown, U. (2023c) Net electricity import in denmark, Statistia. Available at: https://www-
statista-com.proxy1-bib.sdu.dk/statistics/1015329/net-electricity-import-in-denmark/ (Accessed: 19
December 2023).
  It is clear that Denmark is renowned for its commitment to green initiatives and sustainability, stands
as a shining example in the global energy landscape.

IV. DENMARK: DEMAND, CAPACITY AND

FUTURE OF RENEWABLE ENERGY.
4.1 Demand and capacity

• Denmark plans to supply 100% of its power consumption with renewables by 2027, to reduce GHG
emissions by 70% in 2030, and to reach carbon neutrality by 2050.

• The Danish Parliament agreed to phase out fossil fuel extraction by 2050.

• Ørsted is the largest power generator.

• The Danish Underground Consortium is the main oil and gas player with about 85% of production.

• Renewables accounted for 81% of the power mix in 2021 (+45 points since 2010).

• Hydrocarbon production is falling, and the country is a net crude oil importer since 2017.

• The country has a tradition of high energy taxes and prices.

• Residential electricity prices are the highest in Europe.

• The share of renewables in the energy mix has increased by 20 points since 2010 to 48% in 2021, of
which 34% is from biomass (+16 points).

• Denmark is converting its coal and gas power capacity to biomass and aims to create two very large
offshore wind hubs totaling 5 gigawatts (GW).
• New electricity interconnection projects with Germany, Sweden, and the UK are under development,
along with a large gas pipeline project to Poland.
 Denmark’s energy demand and capacity are closely monitored and reported by the Danish Energy
Agency. As of 2021, Denmark’s consumption per capita was slightly lower than the EU average at
2.7 Tonnes of Oil Equivalent /cap and 5,959 kWh/cap of electricity. The total energy consumption
increased by 1.5% per year from 2016 to 2018, declined in 2019 and 2020, and increased again in
2021 (+5%) to 15.8 million Tonnes of Oil Equivalent.

IV.2 Energy consumption for transport

In terms of energy consumption for transport, it rose by 4.1% overall in 2021 relative to the previous year.
Energy consumption for road transport rose by 1.8% and for aviation by 27.4%. The observed energy
consumption decreased to 705 PJ in 2021; a decrease of 7.4%. Following the drop in energy consumption in
2020, there was a rise in coal and coke consumption of 33.2%, a rise in oil products of 3.3% and a rise in the
consumption of renewable energy of 13.5%.

IV.3 What happens if we ran out of energy

 If we run out of energy, it could lead to significant disruptions in our daily lives. For instance,
the cost of goods could increase due to the higher cost of transportation and electricity shortages
might make appliances too expensive to run. It could also lead to the end of globalization as oil is one
of the most traded commodities. Moreover, the world economy could collapse.

wind energy

IV.4 The future of renewable energy in Denmark

 As for the future of renewable energy, Denmark has been a world leader in developing and utilizing
renewable energy sources, with a particular focus on wind energy production. The country had a
total installed renewable energy capacity of 10,340 megawatts as of 2021. Denmark’s flat topology
and proximity to the sea result in excellent wind resources for harvesting energy.

 The country is committed to achieving climate neutrality and increasing the security of its energy
supply. To this end, Denmark is developing renewable electricity through wind farms, which
resulted in a total production of wind energy of about 58.8 petajoules in 2020.

 Denmark has set ambitious goals for its energy future. The Danish Parliament passed the Climate Act
in 2020, which set a target to reduce Denmark’s greenhouse gas emissions by 70 % in 2030 (from a
1990 baseline). The country aims to cut GHG emissions by 70% from 1990 levels by 2030 and for
renewables to cover at least half of the country’s total energy consumption by 2030.
  Renewable power generation (excluding hydropower) in Denmark is expected to increase from 24.33
TWh in 2020 to 43.2 TWh by 2030. By 2050, the country plans to meet 100% of its energy needs
with renewables.

 In summary, the future of renewable energy in Denmark is promising, with a strong focus on wind
energy and ambitious goals for reducing greenhouse gas emissions and achieving climate neutrality.
Denmark’s commitment to renewable energy represents a significant step towards a sustainable and
clean-energy future.

V. DENMARK – OVERVIEW
5.1 Standart prices per KWh

 The average wholesale electricity price in Spain amounted to 63.57 euros per megawatt-hour in
November 2023, the lowest prices since summer 2021. Wholesale electricity prices skyrocketed in
2021 and 2022, the consequence of an energy supply shortage which severely impacted Europe.
Aggravated by Russia's invasion of Ukraine in February 2022, electric power prices in Spain spiked
again in the following months, surpassing 283 euros per megawatt-hour in March 2022.

V.2 Gas prices per m3

 Gas prices in Spain have experimented an brupt increase in Price during 2022 due to so many factors
such as the reduction of gas reserves, new Asian competence or the dependance of Spain to other
countries.

 Moreover, the war between Russia an Ukraine has aggravated the problem. Because of that reason,
gas price skyrocketed in march 2023. The price went from 17.36$ in March 2021 to 123.7$ in March
2022
5.3 Electricity Consumption
 National electricity demand experienced a decrease of 6.7% in December compared to the same
month of the previous year and once the effects of temperature and work schedule were discounted.
In gross terms, a demand of 20,437 GWh is estimated, 7.2% lower than that of December 2021.

V.3Gas Consumption

 We can appreciate in the chart below the evolution of the gas consumption during 2022.

 The months with the higher consumption are November, December and January, months in which the
temperatures are the lowest in Spain, leading to a larger consumption in both homes and businesses.
5.5 Energy Sources in Spain

Where do Spain get their energy from?

 Coal, oil, gas, nuclear energy or renewables are all the options.
Nowadays, Spain’s energy is a combination of some, if not all, of
these sources.
 The balance of sources of energy in the supply is becoming
increasingly important as countries are trying to shift away from
fossil fuels towards low-carbon sources of energy (nuclear or
renewables including hydropower, solar and wind).
 We can see in this chart the energy mix of Spain including the
percentage of total energy supplied by each source.

As we can see in these charts below, Spain, as many other countries, is trying to decrease the percentage of
energy obtained from fossil fuels and increase the percentage from renewable sources.
According to these charts, Spain has been able to decrease the percentage of primary energy from fossil fuels
from 81,06 to 69,8 in the last 53 years.

Not only that, Spain has also increased the percentage of primary energy coming from renewable sources
from 5.3% to over 20% in the last 23 years.

VI. DENMARK: DEMAND, CAPACITY AND

FUTURE OF RENEWABLE ENERGY.
6.1 Demand and Capacity:
 Spain's energy demand is influenced by factors such as population growth, economic activity, and
seasonal variations.

 The country has a diverse energy mix, including contributions from renewable sources, natural gas,
nuclear, and some coal.

 The capacity of Spain's energy infrastructure depends on the installed capacity of power plants, both
conventional and renewable. Spain has been increasing its renewable energy capacity, particularly in
wind and solar power.

6.2 Renewable Energy Sources:

3rd 11th

EU country in renewable energy Country with lowest CO2 emissions

14th
Most sustainable country

Spain has been a leader in the deployment of renewable energy sources, especially wind and solar power.
The country has set ambitious targets for the expansion of renewable energy capacity. The transition to
renewable energy is driven by environmental concerns, the need to reduce greenhouse gas emissions, and the
desire to enhance energy security.
6.3 Consequences of Running Out of Energy:

If Spain were to face a shortage of energy, it could lead to power outages, disruptions in economic activities,
and discomfort for the population. Energy shortages can have significant economic and social consequences.
However, Spain, like many countries, has measures in place to manage and prevent energy shortages through
strategic planning, grid management, and energy conservation initiatives.

6.4 Future Trends (Renewable Energy):

Spain has set ambitious targets to increase the share of renewable energy in its overall energy consumption.
The Spanish government has been implementing policies and incentives to promote renewable energy
projects, including solar and wind farms.

Investments in research and development, as well as advancements in technology, are contributing to the
growth of renewable energy in the country.

- To reduce greenhouse gas emissions by 90% by 2050.

- To promote the water transition as an essential means of adapting to climate change, achieving a reduction
in total water demand of 5% by 2030, and 15% by 2050.

- To reduce primary energy intensity by 36% and 63% by 2030 and 2050, respectively, compared to 2015.

- To ensure 74% of electricity is generated from renewable sources by 2030, and 100% by 2050.

- To increase the area used for organic agricultural production to 25% by 2030, and to 60% by 2050.

- To adopt an average reforestation rate of 20,000 hectares per year in the period 2021-2050, compared to
15,000 hectares in the previous period.

6.5 Interconnection and Grid Modernization:

 Spain is working on enhancing its energy infrastructure, including interconnections with neighboring
countries and modernizing its electrical grid.
  Improved interconnections allow for better management of energy resources and enable the sharing
of electricity across borders.

VII. COMPARISON
7.1 Comparison the Average Consumption Cost of Electricity and Natural
Gas.
Electricity and natural gas are two essential resources for daily life. The cost of consumption varies by
country due to differences in availability, production, and policies. This report compares the average
consumption costs of electricity and natural gas in Vietnam, Denmark, and Spain.

 The bar graph which based on statistics and global petrol prices web, provides information about the
average household consumption of electricity and natural gas in Denmark, Spain, and Vietnam in
March 2023, measured in U.S dollars per kilowatt-hour.
 Denmark had the highest consumption costs for both electricity and natural gas. The cost of
electricity was slightly above 0.2 U.S dollars per kilowatt-hour, while the cost of natural gas was
even higher, indicating a higher reliance on natural gas in Denmark.
 Spain, on the other hand, had lower consumption costs than Denmark but higher than Vietnam. The
cost of electricity was slightly higher than that of natural gas, suggesting a more balanced use of these
two energy sources in Spain.
 In contrast, Vietnam had the lowest consumption costs among the three countries. However, only
data for electricity was available, and no data for natural gas consumption was provided. This could
suggest a lack of natural gas infrastructure or a policy preference for electricity in Vietnam.
 These differences in energy consumption costs among the three countries could be due to a variety of
factors, including differences in energy infrastructure, government energy policies, and the
availability of different energy sources. For example, Denmark’s high energy costs could be due to
its advanced energy infrastructure and strict environmental regulations, which often lead to higher
prices. On the other hand, Vietnam’s low electricity costs could be due to government subsidies or a
lack of competition in the energy market.
 In conclusion, the graph shows significant differences in energy consumption costs among the three
countries. These differences highlight the diverse energy landscapes and policies that exist globally and
underscore the need for further research into the factors influencing these patterns.
7.2 The forecasted energy demand from 2020 to 2030, by source of energy

 It is interesting to note that while Denmark relies heavily on wind power, Spain has a significant
demand for both solar and wind energy sources. Vietnam, on the other hand, has a high demand for
coal as its primary energy source. However, it is encouraging to see that Vietnam also has a
substantial demand for hydroelectric power and a growing interest in solar energy.

 Looking at these forecasts, it is clear that each country has its own unique energy needs and priorities.
It will be important for each country to continue investing in sustainable and renewable energy
sources to meet their demands while also reducing their carbon footprint. As the world moves
 towards a more environmentally conscious future, these forecasts provide valuable insights into the
current state of global energy consumption.

 Furthermore, it is worth mentioning that the forecasted demands for different types of energy sources
are influenced by various factors such as geographical location, climate conditions, technological
advancements, and government policies. For instance, Denmark's flat landscape and windy coastal
areas make it an ideal location for wind farms. In contrast, Spain's sunny weather conditions make it
an excellent spot for solar power generation.

 In conclusion, predicting future energy source demands among different countries is essential in planning
and implementing sustainable energy policies. By analyzing these forecasts carefully and investing in
renewable energies accordingly, we can ensure a cleaner and greener future for generations to come.

VIII. PRODUCTION EXAMPLE

In injection molding production, energy prices can significantly impact operational costs. Raw materials
(RW) and finished goods (FG) can be affected differently by fluctuations in energy prices.
VIII.1 Raw Material (RW) Costs:
Energy prices influence the cost of melting, molding, and shaping raw materials like plastics. These
materials require heating to high temperatures for melting before injection into molds. Fluctuations in
electricity or gas prices directly impact the cost of this heating process. Rising energy prices increase the
overall cost of producing raw materials for molding.

VIII.2 Finished Goods (FG) Costs:

Energy prices also affect the production of finished goods. Higher energy costs during the molding
process lead to increased production expenses. These costs often trickle down to the final product's
pricing, influencing the competitiveness and profit margins of the finished goods.
Demonstrating the impact of energy prices on RW and FG can involve:

- Cost Analysis: Conducting a cost breakdown to show the proportion of energy expenses in the overall
production costs. Comparing energy costs revealing the direct impact on RW and FG during periods of
varying energy prices.

- Scenario Modeling: Creating models to simulate energy price fluctuations and their effects on RW and FG
costs. This predictive analysis helps in understanding potential future impacts on production expenses.
CHAPTER 4: RESULT
1. Presentation
 In this presentation, we covered the topic Energy Price Dynamics: A Comparative Study
of Vietnam, Denmark & Spain. The presentation lasted approximately one hour and a
half. We created and displayed our slides using Microsoft PowerPoint.

 The team involved in the presentation consisted of 8 members, each of whom

contributed their ideas and information to the content of the presentation. We organized
meetings to discuss ideas, share information, and provide feedback to each other. This
allowed us to have a diverse and rich perspective on the topic.

 In summary, our presentation took place within the allocated time, using a slide creation
application, and involved contributions from all team members.This presentation
provided a positive experience and fostered lively discussions.

2. Feedback on the Teamwork Process

 Strengths: Our team demonstrated good organization, effective communication, and a

spirit of unity and support. This created a positive work environment that encouraged
creativity and the contributions of each team member.

 Organization: Our team demonstrated good organization throughout the teamwork

process. We established a specific work schedule, clear task assignments, and set
specific goals for each stage of the project. This helped us maintain progress and achieve
our set objectives.

 Communication: Communication within the team was effectively executed. We utilized

tools such as email, messaging applications, and online meetings to exchange
information and opinions. Every team member had the opportunity to discuss and
contribute their ideas. This helped us maintain cohesion and consensus throughout the
work process.

 Task Allocation: Task allocation was carried out fairly and reasonably within the team.
We carefully considered the skills and abilities of each member to ensure that work was
distributed logically and efficiently. Each member contributed to the project and
completed their tasks on time.

 Unity and Support: The spirit of unity and support existed within the team. Each member
was available to assist one another when facing difficulties, and we shared our
knowledge and experiences. This positive mindset created a comfortable work
environment that encouraged creativity and collaboration.

 Areas for Improvement: Although the teamwork process went well, we can enhance our
work efficiency by improving time management and task allocation. We can also ensure
that all opinions and ideas from team members are listened to and considered fairly.

Overall, throughout this teamwork process, we had a positive experience and achieved the
objectives of the project.
CHAPTER 5: CONCLUSION
In conclusion, We have erred in several areas during this endeavor, including technological
equipment. However, we delivered our lecture in a way that met the teacher's expectations and
effectively taught the material to the class, allowing us to grow as individuals and as a team and
become more aware of our shortcomings during this time. We will have the opportunity to do
this by combining hard and soft skills in the upcoming team project.

CHAPTER 6: PEER ASSESSMENT

Contribution
No. Name Student's ID Presentation Report
1 Alvaro Rodriguez Marin EE23EX001 100% 50%
William Skovgaard Berg
2 Larsen BA23EX018 100% 50%
IELSIU2230
3 Nguyễn Đình Hoàng 4 100% 50%
IELSIU2230
4 Nguyễn Trần Hưng 0 100% 50%
5 Hồ Thị Uyên Phương IEIEIU22106 100% 100%
6 Lê Thị Như Tâm IEIEIU22068 100% 100%
7 Đào Minh Tấn IEIEIU22083 100% 70%
8 Nguyễn Hoàng Song Tuyên IEIEIU22084 100% 50%

CHAPTER: REFERENCES

[1] Overview of Vietnam:

https://www.statista.com/topics/8530/energy-sector-in-vietnam/#topicOverview
https://ourworldindata.org/energy/country/vietnam
https://www.vietnam-briefing.com/news/vietnam-power-shortage-mitigation.html/
https://www.vietnam.com/en/news/article/vietnam-suffers-a-severe-power-shortage.html
https://www.globalpetrolprices.com/Vietnam/electricity_prices/
https://www.vietnam-briefing.com/news/vietnams-push-for-renewable-energy.html/

[2] Demand & Future of Vietnam:

https://www.statista.com/topics/8530/energy-sector-in-vietnam/?
fbclid=IwAR0yBfzsziCwoArszVBk1k37NDEOeYxD6ZBUXR-
YjXwdhrYb253cQwzaAHA#topicOverview
https://www.statista.com/statistics/610165/oil-consumption-in-vietnam/
https://www.statista.com/statistics/610165/oil-consumption-in-vietnam/

[3] Overview of Denmark:

https://www.dst.dk/en/Statistik/emner/miljoe-og-energi/energiforbrug-og-energipriser/
energipriser
https://www-statista-com.proxy1-bib.sdu.dk/statistics/703645/natural-gas-consumption-
denmark/
https://www-statista-com.proxy1-bib.sdu.dk/statistics/1015086/total-household-electricity-
consumption-in-denmark/
https://www-statista-com.proxy1-bib.sdu.dk/statistics/1235360/denmark-distribution-of-
electricity-production-by-source/
https://www-statista-com.proxy1-bib.sdu.dk/statistics/990776/number-of-active-wind-
power-turbines-in-denmark-by-site/
https://www-statista-com.proxy1-bib.sdu.dk/statistics/1015329/net-electricity-import-in-
denmark/

[4] Demand & Future of Denmark:

https://www.enerdata.net/estore/energy-market/denmark/

[5] Overview of Denmark:

https://www.statista.com/statistics/1267552/spain-monthly-wholesale-electricity-price/
https://selectra.es/energia/info/que-es/precio-kwh-gas-natural
https://www.ree.es/es/sala-de-prensa/actualidad/nota-de-prensa/2023/01/la-demanda-de-
energia-electrica-de-Espana-desciende-un-6con7-por-ciento-en-diciembre
https://www.epdata.es/datos/mercado-gas-espana-graficos/614
https://ourworldindata.org/energy/country/spain

[6] Demand & Future of Denmark:

https://spanish-presidency.consilium.europa.eu/en/news/spain-renewable-energies-green-
transition-eu/
https://energypost.eu/spain-as-renewables-rise-managing-supply-and-demand-is-the-next-
challenge/

[7] Comparison:
https://pgs.com.vn/en/natural-gas-prices-in-vietnam
https://www.statista.com/statistics/1011845/vietnam-forecasted-energy-demand-by-type/
www.globalpetrolprices.com/Vietnam/electricity_prices/
www.statista.com/statistics/263492/electricity-prices-in-selected-countries/

[8] Production example:

https://speakingnerd.com/strategy/strategy-models/scenario-modelling
https://www.researchgate.net/figure/The-main-measures-envisaged-for-energy-
efficiency_fig5_354681954