At the conference to collect opinions from experts, managers, businesses and related units in the energy sector on implementing a competitive electricity market organized by the Ministry of Industry and Trade, Mr. Pham Nguyen Hung, Director of the Electricity Department (Ministry of Industry and Trade) said that the Ministry has urgently summarized and developed the Government's Action Program to implement Resolution 70-NQ/TW, focusing on perfecting institutions, supervising energy planning and strategies, ensuring national energy security.
In addition to the results achieved by the electricity market after 13 years of implementation according to Decision 63/2013/QD-TTg, many bottlenecks still exist. The Electricity Department pointed out: low power source participation rate in the market (especially BOT, renewable energy); competitive wholesale market not really open with many wholesale electricity buyers; Supporting service market not yet formed; output contract mechanism has not been effective; PPA negotiations are prolonged; lack of risk management tools; retail prices are not yet separate in cost, and are still cross-subsidized.
To remove this problem, the Government has issued Decree 72/2025/ND-CP on the mechanism for adjusting retail electricity prices, building a price framework for electricity generation, import, transportation and ancillary services; reforming the cost of living to 6 levels; adding prices for tourism and charging electric vehicles; and at the same time preparing to pilot a two-component electricity price mechanism from the end of 2025.
To achieve the dual goal of both increasing market competitiveness and ensuring energy security, Mr. Nguyen Duc Ninh - General Director of NSMO proposed that the Ministry of Industry and Trade direct three groups of solutions.
"Early issue a roadmap for developing the electricity market to replace Decision 63/2013/QD-TTg, creating a synchronous legal foundation for the new period; organize detailed implementation, clearly assign responsibilities between the Electricity Department, NSMO, EVN and related units to ensure progress. Arrange urgent information technology infrastructure resources: approve and deploy the MMS electricity market system project and other infrastructure in 2025, serving operations and payments according to the requirements of the competitive electricity market" - Mr. Nguyen Duc Ninh proposed.
According to Mr. Nguyen Xuan Nam - Deputy General Director of EVN, the process of building a competitive electricity market must be placed in the specific context of Vietnam. Firstly, the proportion of renewable energy has accounted for 30% of the system's capacity (nearly 30,000 MW), creating great pressure on regulation and operation. Second, the demand for electricity growth of 1215%/year is a very hot level compared to many developed countries, where the increase is only about 3%. If the market design is not suitable, Vietnam will find it difficult to attract new investment.
Mr. Bui Quoc Hoan - Deputy General Director of Southern Power Corporation (EVNSPC) affirmed: The core factor of the competitive electricity market is the electricity price mechanism. Currently, there is still cross-subsidy between customer groups and between regions. To implement a competitive retail market, it is necessary to consider building a flexible retail electricity price mechanism, where electricity retailers and customers using electricity negotiate according to electricity market regulations. Customers who are not participating in the market will apply unified retail electricity prices according to State regulations.
Regarding this issue, energy expert Ha Dang Son recommends that the Ministry of Industry and Trade soon study and switch to applying a more flexible electricity price mechanism, associated with consumption reality and new technology, allowing EVN to adjust retail electricity prices more flexibly according to market signals.
Regarding the above issues, Mr. Pham Nguyen Hung - Director of the Electricity Department affirmed: Ensuring national energy security is a consistent goal, covering the planning, investment in power sources, transmission grid and electricity market. This is the foundation for the national power system to operate safely, stably and sustainably.
Resolution 70 -NQ/TW not only sets a goal of security for power supply, but also emphasizes the principle that people and businesses have the right to choose electricity suppliers. This means that the competitive retail electricity market is an inevitable destination" - Mr. Hung emphasized.
