On the morning of July 18, the thematic monitoring delegation "Implementation of policies and laws on energy development in the 2016-2021 period" of the National Assembly Standing Committee in coordination with the Vietnam Union of Science and Technology Associations organized a workshop "Electricity price policy, Vietnam's electricity market - Some issues and solutions".
Deputy Director of the Electricity Regulatory Authority (Ministry of Industry and Trade) Tran Tue Quang said that the costs constituting electricity prices are calculated correctly and electricity prices are adjusted according to market fluctuations, ensuring the stability of the country's macro-economy.
Since the issuance of the mechanism for adjusting electricity prices according to the market, the adjusted retail electricity price has not only ensured sustainable finance for Vietnam Electricity Group (EVN) to invest and operate the system, but also ensured finance for investors to stabilize electricity production and business activities.
However, because electricity prices are a "sensitive" commodity, changes can affect the macro economy and people's lives, so for a number of years, electricity prices have been kept stable.
Mr. Quang emphasized that it is necessary to regulate electricity price policies according to market mechanisms and electricity trading activities to ensure the development of the electricity market. The goal is to implement electricity prices according to market mechanisms, promoting a competitive, transparent and fair electricity market.
The Deputy Director of the Electricity Regulatory Authority proposed to issue a decree on the mechanism for adjusting retail electricity prices under the authority of the Government and electricity units; supplementing regional electricity price policies...
Deputy Minister of Industry and Trade Dang Hoang An shared that the management of electricity prices according to the market mechanism with State regulation must continue, even if a retail electricity market is formed, the State must still control. Resolution 55 of the Central Committee on energy development strategy also stated this point of view.
"Energy and electricity prices are always determined by the Central Government to follow the market, gradually eliminating cross-subsidies. The State must still control the structure of the electricity industry, and the level of control to increase competition and transparency is important," he said.
Currently, there is the Electricity Law and the Price Law - two fundamental laws for managing costs in the electricity sector. In the future, it will be necessary to continue to amend the Electricity Law, including legalizing electricity price management and regulations on the electricity market. The Ministry of Industry and Trade also proposed to develop a Renewable Energy Law and amend and supplement the Law on Effective Energy Saving.
Vice Chairman of the National Assembly Nguyen Duc Hai emphasized that Vietnam's electricity price policy in recent times has contributed to stabilizing the macro-economy, controlling inflation, and ensuring social security, but has also revealed many shortcomings and limitations.
There are opinions that the power generation structure and electricity price adjustment have not yet compensated for input costs and ensured reasonable profits; the retail price structure is not suitable, there is no specific roadmap to apply two-component electricity prices...
“The current retail electricity price mechanism is not synchronized with the reality of electricity market development, and has not forecasted well and fully calculated the factors affecting the regional and world energy markets,” the Vice Chairman of the National Assembly said.
The shortcomings, inadequacies and problems in electricity prices and the electricity market have affected the development of the electricity and energy sectors and the stability and sustainability of the country.
The Vice Chairman of the National Assembly said that there needs to be new approaches and breakthrough solutions to remove obstacles and overcome difficulties, ensuring the goal of providing enough electricity for the economy, production, business and people's lives at reasonable prices in a healthy market, ensuring national energy security.
Mr. Hai said that this is also the goal of the thematic monitoring delegation assigned by the National Assembly and the National Assembly Standing Committee. He requested the Committee, experts and scientists to urgently study and collect opinions to complete the draft report of the monitoring delegation.
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