Pilot competitive electricity market from July 2011
Deputy Prime Minister Hoang Trung Hai has just requested the Ministry of Industry and Trade to urgently complete the necessary mechanisms to pilot the competitive electricity market starting from July 2011.
The above directive was issued after the Government leaders had a meeting with relevant ministries, sectors and economic groups on the operation of the competitive electricity market on March 11.
It is expected that by 2022, Vietnam will have a competitive retail electricity market.
To facilitate relevant units, the Deputy Prime Minister requested the Ministry of Industry and Trade to complete the Project on restructuring the electricity sector this March, report to the Government Standing Committee for consideration, research, and development of a project to establish the National Electricity Regulatory Council, and submit it to the Prime Minister for consideration and approval in the fourth quarter of 2011.
In addition, the Ministry of Industry and Trade is also responsible for presiding over and coordinating with the Ministry of Finance and the State Bank of Vietnam to review and promulgate payment procedures between stages in the competitive electricity market, ensuring strictness, transparency, and compliance with current regulations on accounting and finance.
The Ministry, on behalf of the Government, directed Vietnam Electricity Group (EVN) and units participating in the electricity market to invest in necessary information technology systems to meet the progress of putting the competitive electricity market into operation.
As for EVN, the Deputy Prime Minister requested that the group implement training programs and instruct on electricity market operations for units participating in the electricity market; coordinate with power generation units to invest in construction, installation of terminal equipment and test operation of information technology systems to meet the requirements of operating the competitive electricity market in each stage.
According to the Prime Minister's approval, Vietnam's electricity market is expected to develop in 3 levels, of which level 1 is the competitive electricity generation market (2005 - 2014 period), level 2 is the competitive wholesale electricity market (2015 - 2022 period) and level 3 is the competitive retail electricity market (after 2022 period).
Bao Anh (VnEconomy)
