Mr. Nguyen Tien Thoa - Chairman of the Vietnam Price Appraisal Association - emphasized: If the current mechanism of buying electricity at a high price and selling at a low price continues, it will be impossible to complete the goals and plans set out in the Power Plan 8 as well as the industry, especially in international trade. We must clearly identify that if applied like this, two problems will occur: Vietnam Electricity Group (EVN) will suffer losses and go bankrupt, or the state will have to compensate for the price difference, or there must be a policy to reduce taxes and fees... to ensure that EVN does not suffer losses due to the selling price being lower than the buying price. There must be a policy to reduce taxes and fees to reduce costs.
"Thus, input prices are decided by the market, while output prices are set by the State, which is impossible. In my opinion, the Electricity Law needs to be amended soon to ensure that electricity prices are calculated correctly and sufficiently. Specific financial bottlenecks regarding prices must be resolved and clearly demonstrated in solutions and recommendations, including for gas and wind power," said Mr. Nguyen Tien Thoa.
General Director of PetroVietnam Gas Corporation (PV GAS) Pham Van Phong said: Currently, we do not have a financial policy, a mechanism for guaranteeing gas electricity output, a mechanism for transferring gas prices to electricity prices... That has made it impossible for investment projects to determine their ability to recover capital, arrange capital, and determine how much LNG needs to be imported to ensure competitive gas prices in signing LNG import contracts for electricity production. All of the above problems have caused the risk of delaying the progress of gas electricity projects.
Meeting to collect opinions on the draft strategy for Hydrogen production, plan to implement offshore gas and wind power projects according to Power Plan 8 at the Ministry of Industry and Trade
“So far, Vietnam has only one LNG storage and import port in Thi Vai area, Ba Ria - Vung Tau province of PV GAS that has been completed and is ready to supply recycled LNG to consumers in the Southeast region. The remaining warehouses and ports, including some import ports planned to be integrated into LNG thermal power projects, are currently facing many difficulties and problems, including technical conditions and related regulations. Thus, it can be seen that LNG import infrastructure is still very lacking to ensure the goals set in Power Plan 8. In addition, not considering connecting LNG import infrastructure and power plants will not optimize resources, reduce investment efficiency and waste Vietnam's seaport resources," Mr. Phong emphasized.
Due to the lack of mechanisms and policies for offshore wind power and electricity, the risks for investors are very high.
In addition, Chairman of the Vietnam Oil and Gas Group (PVN) Le Manh Hung informed: Except for Hydrogen, all areas related to the implementation of the Power Plan 8 under the responsibility of PVN are currently being implemented. However, due to the lack of mechanisms and policies for gas and offshore wind power, the risks for investors are very high. The problem is the lack of mechanisms, policies, planning and there is no location, no management agency responsible for deciding and approving. The reason for the problem is related to many laws (Land Law, Price Law, Bidding Law, Electricity Law...) and a series of legal documents related to many ministries, branches, localities...
In order to soon have mechanisms and policies to implement wind power, gas, Power Plan 8... experts suggest that the Ministry of Industry and Trade needs to report to the Government for consideration, submit to competent authorities to have a specific mechanism to promptly remove obstacles that are not regulated by law. Dr. Phan Duc Hieu - Standing member of the National Assembly's Economic Committee proposed to establish a group of experts from ministries and branches to review inter-sectoral policies with independent experts to propose amendments to legal documents, ensuring consistency, not building individual legal documents and needing a comprehensive solution. According to Mr. Nguyen Quoc Thap, Chairman of the Vietnam Oil and Gas Association, there needs to be a resolution of the National Assembly allowing the Government, ministries, branches and enterprises to implement in parallel with the process of perfecting the legal framework. Waiting for law amendments will take a long time.
Dr. Le Dang Doanh - Former Director of the Central Institute for Economic Management, said that the current task of energy development is very urgent, requiring new and drastic approaches, even in some cases like "wartime". At the same time, it is recommended to solve the electricity price issue according to a more flexible market mechanism. On the other hand, it is necessary to report to the Politburo to assign the Government to develop a contract mechanism, an electricity price mechanism, a mechanism to establish working groups to exploit wind power potential and other urgent issues.
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