The MoIT seeks to finalise transitional power rate

May 26, 2023 | 20:13

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The Ministry of Industry and Trade (MoIT) has issued a document requesting Vietnam Electricity (EVN) reach agreement with investors on a transitory price for energy produced by photovoltaic and transitional wind power plants by May 27.

The MoIT seeks to finalise transitional power rate

The MoIT reported that, as of May 24, 37 out of 85 renewable energy projects have submitted their dossiers to the Power Trading Company under EVN (EVNEPTC) to facilitate the arrangement of electricity prices and contracts regarding its purchase and sale.

For the remaining 48 projects that have not yet submitted dossiers, EVNEPTC has requested in writing that investors submit the necessary documentation for negotiation and agreement as soon as possible.

The MoIT document stated, "For power plants that have been authorised to set an interim price, EVN is requested to sign contracts regarding the buying and selling of power promptly and undergo review processes for early operation and production of electricity on the grid."

After negotiating and settling on a price, investors will be compensated based on the formal price as of the date of transmission to the grid. EVN is negotiating a provisional price for the remaining power facilities with the investors, to be finalised by May 27, for submission to the MoIT.

The MoIT also suggests that EVN review documents submitted by investors, reevaluate the investors' requirements for the negotiation of electricity prices, and ensure the simplification of procedures while maintaining compliance with regulations.

Currently, 84 renewable energy projects (with a combined capacity of over 4,600 MW) are behind schedule for commercial operation. 34 transition projects (28 wind power projects and 6 solar power projects) with a combined capacity of roughly 2,100 MW have been completed and tested.

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By Angela Nguyen

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