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| An engineer operates an electricity production system at the Dong Nai Hydropower Plant in the Central Highland province of Lam Dong__Photo: VNA |
The Ministry of Industry and Trade (MOIT) is publicizing a draft circular providing the operation of the competitive wholesale electricity market on the website of the Electricity Regulatory Authority of Vietnam for public comments.
This draft is designed with 129 articles arranged in 11 chapters. It applies to organizations participating in the electricity wholesale market, including wholesalers, energy generator businesses, electricity system and market operators, and electricity transmission units.
If being approved, the circular will be released on June 30 and come into effect on July 15. It will replace Circular 45 dated November 15, 2018, providing the operation of the competitive electricity wholesale market, and amending Circular No. 56 dated December 19, 2014, providing the method to determine electricity generation prices and order of examining electricity purchase and sale contracts.
According to the Electricity Law and the Prime Minister’s Decision 63 dated November 8, 2013, the competitive electricity market in Vietnam is formed and developed at three levels, namely competitive generation market (level 1); competitive wholesale electricity market (level 2); and competitive retail electricity market (level 3).
MOIT has put the competitive generation market into operation from July 1, 2012, followed by the competitive wholesale electricity market from January 1, 2019. Ongoing efforts to enhance the legal framework will foster transparency and fair competition among market participants, contributing to the sustainable development of Vietnam’s electricity market.- (VLLF)
