Electricity

The Ministry of Industry and Trade (MOIT) has just issued Circular No. 42/2022/TT-BCT stipulating the inspecting the electricity activities and electricity use and solving the disputes in the trading electricity contracts. The Circular clearly stipulates the competence and sequence of the Electricity Regulatory Authority (MOIT) and provincial Departments of Industry and Trade for solving disputes in trading electricity contracts (The Circular takes effect from February 16, 2023).

Considering proposals of the Electricity of Vietnam (EVN) on supplementing the electricity system operation plan in 2023 and according to the proposal of the Electricity Regulatory Authority, the Ministry of Industry and Trade has just approved the "plan for electricity supply and operation of the national power system in 2023”. The Vietnam Energy Magazine would like to raise the content of this Decision for the reference of our readers.

The Electricity Regulatory Authority - Ministry of Industry and Trade informed that, by the end of December 2022, there are 108 power plants directly participating in offering in the competitive electricity market, with a total installed capacity of 30,837 MW, equal to about 38.8% of the total capacity of the national power system. The competitive nature in the electricity wholesale market of Vietnam has gradually expanded in scale.

According to the Electricity Power Trading Company (EPTC), the electricity generation that EPTC will buy from the power plants having contracts with this unit in 2023 is 184.52 billion kWh and the electricity generation will sell to the power corporations as 252.76 billion kWh.

As well known, the Kien Binh - Phu Quoc 220kV transmission line a longest sea-crossing line in Southeast Asia was technically energized in mid-October 2022. Currently, the project is completing the procedures to hand over to Power Transmission Company 4 under the National Power Transmission Corporation (NPTC) for managing and operating.

The Electricity of Vietnam (EVN) has just sent a document to the Ministry of Industry and Trade and the Electricity Regulatory Authority on establishing a framework for electricity prices of transitional solar and wind power projects.

On the proposal of the Vietnam Oil and Gas Group (PVN) and the Electricity of Vietnam (EVN), the Ministry of Industry and Trade (MOIT) has agreed that the thermal power plants using Block B gas will indirectly participate in the electricity market under the regulations of Circular No. 45 of MOIT Minister.

On November 15, Vietnam Report Joint Stock Company (Vietnam Report) in cooperation with Vietnam Net Electronic Paper announced the list and rank of the 500 largest enterprises in Vietnam in 2022, in which, the Electricity of Vietnam (EVN) occupied the third place in top 500 largest enterprises in Vietnam (VNR500).

The Vietnam Oil and Gas Group (PVN) informed that the PVN mission headed by Mr. Nguyen Hung Dung – Member of the PVN Member Council visited and worked at Sembcorp Group (Singapore) and during the visit, Sembcorp Corporation and PetroVietnam Joint -Stock Technical Services Corporation (PTSC) signed a memorandum of understanding (MOU) on renewable energy development, cross-border electricity trading, low carbon solutions (as hydrogen, ammonia), energy storage systems, smart grids and support/participation in developing LNG infrastructure in Vietnam.

The Electricity of Vietnam (EVN) informed that the electricity output of Vietnam's power system in October 2022 reached 21.9 billion kWh and in 10 months of 2022 achieved 225.98 billion kWh, increasing 6.1% over the same period.

The Department of Planning and Investment of Quang Ninh province has officially issued the Business Registration Certificate for Quang Ninh LNG Power Joint Stock Company, (QN LNG Power).

Mr. Tran Dinh Nhan - General Director and the mission of Electricity of Vietnam (EVN) just had a working meeting at the Electricity of Cambodia (EDC) in Phnom Penh. At the meeting, the two sides discussed the plan for the expansion of electricity trading cooperation between Vietnam and Cambodia in the coming time.

On the afternoon of October 11, Prime Minister Pham Minh Chinh received Mr. Juan Ignacio Rubiolo - Permanent Vice Chairman of AES Energy Corporation (USA). On this occasion, AES proposed Vietnamese Government improve the investment and business environment, including the development of a pilot regulation on the Direct Power Purchase Agreement (DPPA).

On the afternoon of September 26, 2022, Thac Ba 2 Hydropower Joint Stock Company (TBC2) signed a credit contract for Thac Ba 2 hydropower project with Vietnam Single Limited Shinhan (Shinhan), consulting contract for management and construction supervising (PMC) with Power Engineering Consulting Joint Stock Company 2 (PECC2).

30 August 2022, Singapore– Keppel Infrastructure Holdings Limited (Keppel Infrastructure), through its wholly owned subsidiary Keppel Energy, has reached final investment decision (FID) to develop a 600MW state-of-the-art, advanced combined cycle gas turbine (CCGT) power plant, and has awarded an engineering, procurement and construction (EPC) contract to a consortium comprising Mitsubishi Power Asia Pacific and Jurong Engineering for the construction of the plant. To be built in the Sakra sector of Jurong Island, the Keppel Sakra Cogen Plant will be the firrst hydrogen-ready power plant ing Singapore.