The draft Electricity Law (amended) is interconnected and consistent with other laws.

Dr. Thai Doan Hoang Cau said that the draft Law on Electricity (amended) has met the purposes, objectives and viewpoints on law-making set forth by the Party and State.

As an expert in the energy sector, Dr. Thai Doan Hoang Cau (PhD in economic behavior in the electricity market and with more than 25 years of experience in researching the Australian electricity market) believes that the Electricity Law (amended) will be issued soon and will promptly support the development of electricity, economy and society.

With the spirit and responsibility of a voter and someone who is interested in, follows and contributes opinions to the bill, Dr. Thai Doan Hoang Cau said that the bill submitted to the National Assembly has met the purposes, objectives and viewpoints of law-making that have been set forth. The bill is comprehensive, synchronous and interconnected with related laws and reflects the necessary multi-dimensional opinions.

Dr. Hoang Cau proposed to soon pass the Electricity Law (amended). Photo: HC

“ As an independent expert, I have observed, experienced positively and highly appreciated the efforts, sense of responsibility, seriousness and openness of the Drafting Committee, Editorial Team, Electricity Regulatory Authority and other units in the process of receiving and recording comments from the public, relevant agencies and organizations ” - Dr. Thai Doan Hoang Cau said,

In my opinion, one of the outstanding advances of this draft law is to decentralize more power to the Government, the Ministry of Industry and Trade, and competent authorities in issuing decisions, procedures, and regulations related to the specific characteristics of the electricity industry. Legal documents supporting this Electricity Law will be updated and changed more flexibly and frequently to meet rapid changes in technology, electricity demand, economic development as well as the design and operation of electricity market mechanisms and corresponding electricity systems. Thereby, increasing the feasibility and stability of the draft law in the face of changes in practice.

“ In that spirit, I hope and believe that the bill needs to be soon passed and promulgated by the National Assembly so that the new Electricity Law can soon support the development of electricity and Vietnam's socio-economy, ” Dr. Thai Doan Hoang Cau expressed his opinion.

The Electricity Law (amended) soon to be passed will create resources to attract investment in electricity development projects (Illustration: Van Ny)

Dr. Thai Doan Hoang Cau also noted that with a commercial electricity output of over 250 billion kWh/year (2023), Vietnam's electricity system is currently very large in scale, ranking second in Southeast Asia (after or similar to Indonesia) and in the top 25 in the world.

Power Master Plan VIII forecasts Vietnam's electricity growth to be very high, nearly double and five times the demand in 2023 in 2030 and 2050 respectively, to meet the forecasted average GDP growth expectation of 7%/year in the 2021-2030 period and 6.5-7%/year in the 2031-2050 period. The total estimated investment in power sources and grids is very large, nearly 135 billion USD for the 2021-2030 period, and 399-523 billion USD for the 2031-2050 period.

Source: https://congthuong.vn/du-thao-luat-dien-luc-sua-doi-co-tinh-lien-thong-dong-bo-voi-cac-luat-khac-356700.html