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Vietnam Energy Forum

The MOIT and Capital Management Committee discusses the financial balance solutions for EVN

 - On February 15 in Hanoi, Mr. Nguyen Hong Dien - Minister of Industry and Trade (MOIT), and Mr. Nguyen Hoang Anh - Chairman of the Committee for the Management of State Capital at Enterprises (CMSCE) co-chaired a meeting with the Electricity of Vietnam (EVN) to discuss a number of investment projects for developing the power plants and power grids, the financial balance of EVN in 2022 - 2023 and develop a plan for the average retail price of electricity in 2023.

At the meeting, Mr. Tran Dinh Nhan - EVN General Director reported the situation to implement the electricity production and business in 2022 and the expected plan of EVN for 2023. Mr. Nhan proposed solutions and recommendations to MOIT and CMSCE to ensure electricity production and business activities in 2023. The EVN proposals and recommendations were attentively listened and cleared up by MOIT and CMSCE. The functional departments of MOIT and CMSCE also proposed specific solutions to definitively resolve the recommendations.

The MOIT and Capital Management Committee discusses the financial balance solutions for EVN

Mr. Tran Dinh Nhan - General Director of EVN reports on the implementation of electricity production and business in 2022 and the projected plan for 2023.

A number of recommendations were noted to continuously research and propose feasible and effective solutions in compliance with the law. Concluding the meeting, Minister Nguyen Hong Dien highly appreciated EVN's efforts in ensuring electricity supply for the socio-economic development of the country and people's daily life, especially in the context that EVN has faced unprecedented and very different challenges and difficulties in recent years, stemming from geopolitical conflicts in the world, the energy crisis leading to high increase of the input fuel prices for the electricity generation…

Regarding EVN's recommendations to MOIT, the Minister had direct comments to departments under the Ministry to coordinate with EVN to implement solutions to remove difficulties and obstacles in the developing electricity projects, electricity market and mechanism for electricity sale. Specifically, for construction investment, to settle recommendations related to gas supply for O Mon thermal power plant and Dung Quat Power Center; to appraise technical design by the parts for the rest of the Quang Trach 1 Thermal Power project, and the technical design report of Bac Ai pump storage hydropower project and to perfect the report to the Prime Minister on the load demand and power supply plan for Con Dao island district, to ensure sufficient coal supply for thermal power plants. For the construction of price adjustment options, ensure sufficient coal supply for thermal power plants.

For developing the project to adjust the average retail electricity price in 2023, The Minister directs EVN to closely follow and comply with the implementation process as prescribed in the Prime Minister's Decision No. 24/2017/QD-TTg dated June 30, 2017, stipulating the mechanism for adjusting average electricity retail prices. The adjustment of electricity prices needs to be calculated, evaluated, and fully considered the impact on inflation, people's lives and the Government's macroeconomic management in accordance with regulations. In addition, the Minister of Industry and Trade also directs EVN to actively participate in proposing amendments and supplements to current regulations on the mechanism to adjust the retail electricity prices, the structure of the electricity retail prices at the regulations of the Government Prime Minister on the electricity price mechanism, the electricity market in the Electricity Law, the mechanism on direct power purchase agreement (DPPA) for ensuring that the electricity price fully reflects market factors, creates an equal environment among all electricity users.

On the CMSCE side, Chairman Nguyen Hoang Anh directs EVN to implement solutions for removing the difficulties and obstacles in developing the power projects such as O Mon 3 Thermal Power Plant, Tri An extended Hydropower Plant and coordinate with relevant agencies to finalize a report to the Prime Minister for consideration on solutions to ensure the balance of the electricity production and business results in 2022, including contents related to assessment and classification of enterprises.


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