Vietnam aims to quicken electricity sector restructuring
Prime Minister Nguyen Xuan Phuc has approved a project on restructuring the electricity industry from 2016-2020, with a vision to 2025, to increase transparency and fair competition in the field.
Hanoi (VNA) – Prime Minister Nguyen Xuan Phuc has approved a project on restructuringthe electricity industry from 2016-2020, with a vision to 2025, to increasetransparency and fair competition in the field.
From 2016-2018, power generating corporations under the Electricity of Vietnam(EVN), the Vietnam Oil and Gas Group (PVN) andthe Vietnam National Coal – Mineral Industries Holding Corporation Limited(Vinacomin) will be equitised in linewith the plans ratified by the PM. EVN, PVN and Vinacomin will continue managing power generating corporations and hold at least 51 percent of stake in them.
Power generating corporations will be responsible forimplementing new investment projects in accordance with the National PowerDevelopment Plan for 2011-2020, with a vision towards 2030.
They will work to carry out projects to improve the efficiency of corporatemanagement, maintain competitiveness, ensure profitable production andbusiness, and increase the ratio of equity capital for investment anddevelopment as required by financial institutions.
Renewableenergy plants are encouraged to join in the pilot electricity wholesale market.
Regardingelectricity supply and retail, electricity companies will maintain theorganisation as one-member limited companies, with 100 percent of their chartercapital owned by EVN.
Regulatory mechanisms will be built among power companies to meet requirements ofthe power wholesale market.
The National Load Dispatch Centre ofVietnam (NLDC) will be responsible foroperating power systems and the power market, and building a plan to transform theNLDC into a one-member limited company with independent accounting.
Renovationwill be also carried out in the electricity regulatory department under the Ministry of Industry and Tradeto satisfy management and supervision of requirements for the competitivewholesale market.
As from 1019, Capital divestment will be accelerated in power generating corporationsto reduce State owned stakes to below controlling level. Those corporations arescheduled to be separated from EVN, PVN and Vinacomin after two years of equitisation.
Build-operate-transferpower plants will be encouraged to join the competitive wholesale market./.
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Illustrative image (Source: VNA) 
