This decision takes effect from today (May 27).

Accordingly, the 2024 electricity generation price framework for combined-cycle gas turbine thermal power plants using liquefied natural gas (LNG) applies to negotiating electricity purchase and sale contract prices of power plants specified in Point a, Clause 2, Article 1 of Circular No. 57 dated December 19, 2014 of the Minister of Industry and Trade stipulating the method and procedure for developing and promulgating electricity generation price frameworks.

Specifically, the electricity generation price range for thermal power plants using LNG in 2024 is 0-2,590.85 VND/kWh (excluding value added tax). Of which, the ceiling price is 2,590.85 VND/kWh.

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An electricity project is being invested in and built. Photo: Xuan Ngoc

The parameters used to calculate the ceiling price of the electricity generation price frame applicable to thermal power plants using LNG in 2024 include: net capacity of 1,579,125 kW; net heat consumption rate at 85% load is 6,330.2 BTU/kWh; LNG price (excluding value added tax, storage costs, regasification and distribution of regasification) is 12.9792 USD/million BTU and the exchange rate is 24,520 VND/USD.

Based on the above electricity price framework, Vietnam Electricity Group and the power generation unit negotiate the electricity purchase and sale price on the basis of compliance with legal regulations on methods for determining electricity prices issued by the Ministry of Industry and Trade and managing construction investment costs in accordance with legal regulations on construction.

According to the Power Plan VIII, the total capacity of gas-fired power plant projects invested in and put into operation by 2030 is 30,424 MW (23 projects). Of which, there are 10 gas-fired power plants using domestically exploited gas and 13 LNG power plants.

However, up to now, most of the power projects in the investment preparation process have not made much progress. The reason is that the electricity price has not been determined, leading to investors not being able to calculate the investment efficiency.

In addition, there are also problems related to the progress of site clearance in localities; some localities have not been able to negotiate and sign connection agreements for the project because they have not yet identified investors for transmission line projects to release capacity; incentives and investment guarantees proposed by investors are not in accordance with current legal regulations...

Electricity is stuck in many ways, 3 big projects have not found investors . Up to now, most of the electricity projects in the investment preparation process have not made much progress. Minister Nguyen Hong Dien requested to focus on speeding up the progress of the projects.