Price framework for power generation types will be issued in April 2025

Mr. Doan Ngoc Duong - Deputy Director of the Electricity Department informed at the regular press conference of the Ministry of Industry and Trade on the afternoon of April 4. Photo: Can Dung

At the regular press conference of the Ministry of Industry and Trade on the afternoon of April 4, regarding the adjustment of the VIII Power Plan, Mr. Doan Ngoc Duong, Deputy Director of the Electricity Department (Ministry of Industry and Trade) said: The Ministry of Industry and Trade has urgently completed the draft Project to adjust the VIII Power Plan and submitted it to the Government by the end of February 2025. On March 30, the Government Office issued Conclusion Notice No. 141/TB-VPCP requesting to receive and complete the remaining contents and submit the adjustment plan.

There is a price frame for new types of electricity.

"This afternoon (April 4), at the Government Office, Minister and Head of the Government Office Tran Van Son and Minister of Industry and Trade Nguyen Hong Dien co-chaired a meeting to review the Project for the last time, to ensure that the content meets the requirements and can be completed tomorrow (April 5)," said a representative of the Electricity Department.

Regarding the construction of price frameworks for power generation types, the Electricity Department informed that right from the beginning of the project development process, the Ministry of Industry and Trade identified this as a necessary content to be implemented immediately after the Plan was approved. Implementing the direction of the Prime Minister, the Ministry of Industry and Trade has basically completed the review and finalization of price frameworks for each main power generation type in the system including: Coal power, gas power, onshore wind power, solar power, biomass power

The Ministry of Industry and Trade is also urgently developing a price framework for several new types of power sources that are not currently available in Vietnam's power system but will play an important role in the coming time, including three types: Offshore wind power; pumped storage hydropower; and solar power combined with battery storage.

"These price framework drafts have been basically completed. The Ministry is consulting with experts and relevant agencies. It is expected to be completed and submitted to competent authorities for promulgation before April 10," said Mr. Doan Ngoc Duong.

Resolving troubled energy projects

Regarding removing obstacles for renewable energy projects, the Government has issued Resolution No. 233, which clearly states the principles, criteria and viewpoints for handling these projects.

According to functions and tasks, there are 3 groups of problems and clearly defined authorities as follows: Regarding electricity planning under the authority of the Ministry of Industry and Trade; regarding overlapping planning, land, and minerals under the authority of the People's Committees of the provinces where the projects are located; regarding the application of FIT prices, construction acceptance, and conditions for applying FIT prices under the authority of Vietnam Electricity Group (EVN).

EVN has actively reviewed, discussed directly with investors and has a preliminary report. However, there are still some inappropriate contents, especially related to the provisional price and the time of trial operation.

"Therefore, the Ministry of Industry and Trade has requested EVN to continue reviewing, ensuring proper implementation of the Government's directives and thoroughly and resolutely handling difficulties to avoid prolonging them," Mr. Duong said, emphasizing that the Ministry of Industry and Trade is urging very strongly, and will soon have results to report to the Government.

Regarding the working group to handle difficulties with Thai investors, Mr. Duong said that these investors are mainly secondary investors, buying back shares after the project has been put into operation. The Ministry of Industry and Trade has established a specialized working group, which is currently collecting and reviewing information and is expected to have a direct dialogue with investors next week. The goal is to grasp the essence of the difficulties, listen to proposals and from there synthesize and advise the leaders of the Ministry and the Government to have appropriate handling directions.

Regarding Vingroup's proposal to add a series of renewable energy and LNG power projects to the Power Plan VIII, with an investment scale of 25-30 billion USD by 2030, Mr. Doan Ngoc Duong said: The Ministry of Industry and Trade submitted the adjusted Power Plan VIII at the end of February 2025. In March 2025, many meetings were held to receive and revise the project. The project has now established the structure of power sources, types (coal, gas, wind, solar, etc.) and the expected list of projects corresponding to each type has been received and reported by the Ministry of Industry and Trade.

Meanwhile, Vingroup Corporation has only recently submitted its proposal (about 1-2 weeks). The Ministry of Industry and Trade has directly discussed with Vingroup, and announced that the scale, type, and location of the power projects have been compiled based on the proposals of the localities and have been included in the list in the draft submitted to the Government.

"We recommend that investors carefully review the content of the draft revised Power Plan VIII and propose projects that are consistent with the approved structure, especially in the 2025-2030 period," Deputy Director Doan Ngoc Duong emphasized.

In the long term, the leader of the Electricity Department said that investors such as Vingroup in particular and other investors in general need to closely follow the approved project list and carry out investment or bidding procedures locally, with the People's Committees of provinces/cities being the competent authority to receive proposals.

Previously, Vingroup Corporation sent a dispatch to the Government leaders requesting to supplement the planning of renewable energy projects. Accordingly, the corporation proposed to implement renewable energy projects with a total capacity of 47,500 MW in the period of 2025 - 2035. The above renewable energy projects are expected to be deployed in 7 localities: Son La, Dak Lak, Ninh Thuan, Binh Phuoc, Dong Nai, Tra Vinh/Soc Trang and Khanh Hoa. Of which, the total capacity by 2030 alone is 20,500 MW, with an investment level of 20-25 billion USD. These renewable energy projects include solar power plants (13,900 MW) and wind power plants (6,600 MW).

The group also proposed adding the 5,000 MW LNG power plant project in Hai Phong to the adjusted Power Plan VIII. If added to the plan, the plant is expected to be invested and built within 5 years (2025 - 2030), with a total capital of about 5.5 billion USD. According to Vingroup, the Hai Phong LNG power project will help compensate for the capacity of several large power plant projects that cannot be implemented, such as BOT Nam Dinh 1 (1,200 MW), Quang Tri (1,320 MW), Vinh Tan 3 (1,980 MW) and Song Hau 2 (2,120 MW).

In 2025, the Government targets GDP growth of at least 8%, reaching double digits in the 2026 - 2030 period.

To provide enough electricity for economic growth targets, in the draft revised Power Plan VIII, the Ministry of Industry and Trade proposed that the total installed capacity of the country's power sources by 2030 (excluding cogeneration and risk sources) reach 211,805 MW, an increase of more than 56,000 MW compared to the Power Plan VIII approved nearly 2 years ago.

Phan Trang

Source: https://baochinhphu.vn/khung-gia-cho-cac-loai-hinh-phat-dien-se-duoc-ban-hanh-trong-thang-4-2025-102250404202125126.htm