On August 19, Politburo Member, Standing Deputy Prime Minister Pham Gia Tuc and Member of the Party Central Committee, Deputy Prime Minister Nguyen Van Thang worked with the Ministry of Industry and Trade, the Ministry of Finance and related ministries and sectors on the roadmap, operating principles, electricity industry structure and conditions for forming and developing levels of the competitive electricity market.
The Government Authority of Information and Communications said that, according to a report by the Ministry of Industry and Trade, the draft Decision of the Prime Minister is built on the basis of the Electricity Law, Resolution No. 70-NQ/TW of the Politburo and the Strategy for Development of the Electricity Industry to 2050, in order to continue to improve the levels of competitive electricity market, improve transparency, efficiency and be consistent with the development requirements of the electricity industry.
One of the key contents of the draft is to determine the time to officially operate the competitive retail electricity market no later than 2030, on the basis of fully meeting the prerequisites; and at the same time continue to improve the competitive wholesale electricity market, gradually shifting to a multi-purchaser model.
To achieve this goal, the Ministry of Industry and Trade proposes to synchronously implement solutions to improve the operating mechanism of the electricity market, improve transparency and efficiency in all stages of the electricity industry; and at the same time continue to review and improve the electricity industry structure to suit the requirements of developing a competitive electricity market.
Concluding the working session, the Standing Deputy Prime Minister and the Deputy Prime Minister requested that the implementation of the decision on the roadmap, operating principles, electricity industry structure and conditions for forming and developing a competitive electricity market must be carried out in parallel and synchronously with the EVN restructuring project, ensuring compliance with the guidelines and directions of the Politburo, the Central Government and the Government.
Regarding electricity prices, unify the orientation of gradually reforming retail electricity prices according to an appropriate roadmap, and at the same time assess the impact and determine the State's support mechanism for subjects and areas that need to ensure social security.
For the power transmission system, this is a strategic infrastructure, which needs to be invested synchronously, taking a step ahead to meet the requirements of power source and load development.
The Ministry of Industry and Trade must carefully study the plan, roadmap and organizational, financial, investment, and capital mobilization mechanisms, ensuring that the model adjustment does not affect the investment capacity and operation of the transmission system.
The two Government leaders noted to continue to study and carefully assess the restructuring plan for power generation corporations, ensuring compliance with the role of state-owned enterprises in the energy sector and the requirement to improve EVN's capacity.
At the same time, directing the review and completion of financial mechanisms, taxes and related legal regulations, ensuring a synchronous legal basis for the development of a competitive electricity market.
After the meeting, the Ministry of Industry and Trade urgently coordinates with EVN, the Ministry of Finance and relevant ministries and sectors to complete the EVN restructuring project at the same time as the draft decision on the competitive electricity market, ensuring unity, synchronization, no overlap and in accordance with the guidelines and directions of the Central Government, and report to competent authorities in September 2026.
