Deputy PM asks for early implementation of competitive electricity market

Deputy PM Hai presents the Labour Order (third class) to Director of the Electricity Regulatory Authority Nguyen Anh Tuan.

Deputy Prime Minister Hoang Trung Hai made the request while attending the 10th anniversary of the ERAV under the Ministry of Industry and Trade held in Hanoi on October 18.

Addressing the ceremony, the Deputy PM said that the achievements of the ERAV over the past ten years have demonstrated the correctness of the policy on building a competitive electricity market and shifting the electricity sector from a monopoly to operating under a market mechanism.

He also urged the ERAV to promptly carry out the study on developing the electricity retail market as the competitive electricity wholesale market will be put under a trial implementation from 2016 to 2018 and is expected to begin official operations from 2019.

The ERAV should continue to study and complete the electricity price adjustment mechanism following the fluctuations of input factors and propose appropriate electricity retail price scales to ensure transparency and social equality, Deputy PM Hai noted.

Over the past ten years, the ERAV has played an important role in building a legal framework for electricity activities and in providing consultancy for the Ministry of Industry and Trade in regulating the electricity market.

Furthermore, the ERAV has reaped significant achievements in electricity planning; monitoring and balancing the electricity demand and supply; and participating in the project on electricity restructuring to serve the competitive electricity generation market.

Deputy PM Hai presented the Labour Order (third class) to Director of the Electricity Regulatory Authority Nguyen Anh Tuan and government Certificates of Merit to other individuals and collectives for their outstanding achievements in the past.

Source: VEN/ NDO