According to the Ministry of Industry and Trade and experts, the Electricity Law (amended) recently passed by the National Assembly will create a strong change related to legal regulations, removing development bottlenecks of the electricity industry related to capital mechanisms, investment incentives to attract resources to participate in electricity development as well as operation.
According to the Ministry of Industry and Trade, one of the highlights of the Electricity Law (amended) is the regulations related to development and investment policies. build The electricity sector attracts all economic sectors to invest in the construction of power source projects. However, to ensure national energy security, the State holds a monopoly in the dispatch of the national power system; invests in the construction and operation of nuclear power plant projects, multi-purpose strategic hydroelectric plants, and important transmission grids from 220 kV voltage level and above according to the list decided by the Prime Minister.
To develop power sources, the State will prioritize the budget, combine the mobilization of domestic and foreign resources for investment in developing power sources, power grids, developing electricity in rural areas, ethnic minority areas, mountainous areas, border areas, islands and areas with particularly difficult socio-economic conditions. Domestic and foreign organizations and individuals building power sources, power grids, and providing electricity to households in the above areas will receive investment, financial and other incentives and support.
On the afternoon of November 30, with 439/463 National Assembly deputies participating in the vote (accounting for 91.65%), the National Assembly passed the Electricity Law (amended). This is an important law project, having a great impact on the economy, ensuring the country's growth and development goals as well as national energy security.
Will remove cross offset in electricity price
An important highlight of the Electricity Law (amended) is that the electricity price will be implemented according to market mechanism and moving towards eliminating cross-subsidy in electricity prices. These are issues that businesses and people are always particularly concerned about. These are not new regulations and have been included in the regulations but have not been fully implemented. According to the regulations, electricity prices and electricity service prices will be guaranteed to reflect reasonable and valid electricity production and business costs of the electricity unit; creating conditions for economic sectors to invest in electricity development with reasonable profits. Accordingly, electricity prices are implemented according to the market mechanism with price regulation by the State in accordance with the level of the competitive electricity market and electricity prices ensure the encouragement of efficient and economical use of electricity.
The Electricity Law also stipulates the implementation of a reasonable and gradually decreasing retail electricity price structure, moving towards eliminating cross-subsidy of electricity prices between customer groups, ensuring the right to self-determination of electricity purchase prices, electricity selling prices not exceeding the electricity price frame, and the retail electricity price structure prescribed by the State. This is an issue raised by many National Assembly deputies when giving comments on the Electricity Law (amended). For poor households and social policy households, the State continues to support electricity bills for living purposes according to the criteria and mechanisms prescribed by the Prime Minister.
Renewable Energy Development
An important new point in the Electricity Law (amended) is the promotion of renewable energy development. In particular, policies to encourage investment in solar, wind and other renewable energy sources and encourage power plants using fossil fuels to switch to low-emission fuel sources, install carbon capture equipment and systems to reduce emissions into the environment.
Regarding nuclear power development policy, the Law clearly states that nuclear power development planning must be closely linked, synchronized, and consistent with electricity development planning to ensure the goal of electricity supply security. Investment in construction, operation, termination of operations, and safety assurance of nuclear power plants must comply with the provisions of the Law on Atomic Energy and other relevant legal provisions.
The point that businesses are interested in in the Electricity Law (amended) is the restructuring, innovation and improvement of the operational efficiency of State-owned enterprises according to the levels of the competitive electricity market. Specifically, the production, business and service provision functions will be separated from the State management function. Along with that, forming independent service providers, forming many power generation units, many electricity wholesale and retail units to increase operational efficiency and create competition in the electricity market.
Sharing with Tien Phong reporter about the impact of the Electricity Law (amended), Associate Professor, Dr. Ngo Tri Long, former Director of the Institute for Price Market Research (Ministry of Finance), said that this law has resolved a number of important bottlenecks in Vietnam's electricity development in recent times, helping the electricity industry operate more effectively, ensuring sustainable development.
According to Mr. Long, in the immediate future, the Ministry of Industry and Trade needs to soon complete decrees and circulars providing specific guidance on the implementation of the provisions of the Electricity Law related to regulations on electricity price mechanisms, licensing procedures for electricity projects, as well as the rights and obligations of relevant parties.
The Ministry of Industry and Trade also needs to closely coordinate with ministries, branches and local agencies to synchronize policies and implement appropriate support measures during the implementation process and promptly assess the implementation of the Electricity Law as well as make timely adjustments and amendments if necessary. In particular, ensuring that electricity prices operate according to market mechanisms and eliminating cross-subsidies in electricity prices is a priority that needs to be implemented soon.
Source
Comment (0)