The Electricity Law fundamentally amends shortcomings and problems arising in practice.

The Electricity Law was promulgated in 2004 and was amended and supplemented with a number of articles in 2012, 2018, 2022 and 2023. Although it has been amended and supplemented four times and each time has resolved a number of difficulties and problems, many provisions of the current Electricity Law have revealed shortcomings and problems, failing to resolve new and important issues arising in practice.

The draft Electricity Law (amended) includes 6 major policies, including planning and investing in electricity development to ensure energy security for the country; Developing renewable energy and new energy; Completing regulations on electricity operation conditions and the granting and revocation of electricity operation licenses;

Managing electricity trading activities in the direction of promoting a transparent, fair, and effective competitive electricity market and electricity prices according to market mechanisms; Managing and operating the electricity system, focusing on encouraging economical use of electricity, strengthening the implementation of solutions to manage electricity demand and adjust electricity loads; Safely using electricity after the meter and ensuring the safety of dams and hydropower reservoirs during the construction and operation of hydropower projects.

Minister of Industry and Trade Nguyen Hong Dien reports to the 15th National Assembly, 8th session on the draft Law on Electricity (amended) - Photo: Quochoi.vn

The Draft Electricity Law (amended) consists of 9 chapters with 130 articles, closely following the 6 policies mentioned above and not adding any new policies. Of which, it inherits and mainly amends 62 articles on general regulations, granting of electricity operation licenses, electricity market, electricity purchase and sale, electricity prices, rights and obligations of electricity units and electricity users, protection of electricity works and electrical safety.

Remove 4 articles (propaganda, dissemination of legal education; application dossier for granting, amending, and supplementing electricity operation licenses; rights and obligations of specialized electricity consulting units; electricity inspection), and merge 4 articles into other articles (on the content of development policies, investment, electricity saving, and electricity prices).

At the same time, 68 articles on power development planning, bidding policies for investors in power source projects, policies on handling emergency power sources, policies on development and operation of gas-fired thermal power plant projects, power source projects invested under the public-private partnership method applying build-operate-transfer contracts, policies on renewable energy (solar power, offshore wind power), new energy (such as hydrogen). Direct electricity trading mechanism, fully implementing all levels of the competitive electricity market, moving towards eliminating cross-subsidy of electricity prices between economic sectors, electricity trading prices based on time of day, multi-component electricity prices, etc.

The Ministry of Industry and Trade said that the increase in Articles and Clauses in the Draft Law are mainly and essentially new regulations to pave the way for the strong development of the country's renewable energy potential; develop a competitive electricity market according to market mechanisms, with State management; supplement regulations on investment in the construction of emergency electricity projects, to ensure security of electricity supply and strict sanctions for slow-progressing electricity projects.

According to Mr. Tran Viet Hoa, Director of the Electricity Regulatory Authority (Ministry of Industry and Trade), the amendment of the Electricity Law overcomes the problems and shortcomings of the current Law. “Ensuring the synchronization and unity of the legal system, contributing to promoting the sustainable and effective development of the electricity industry, achieving the goal of doubling the installed capacity of the entire system by 2030 and fundamentally changing the structure of power sources to achieve zero net emissions by 2050, ensuring national energy security, providing enough electricity for socio-economic development and meeting people's living needs,” said Mr. Hoa.

Minister of Industry and Trade Nguyen Hong Dien discussed in group 4 on the afternoon of October 26 about the draft Law on Electricity (amended) - Photo: quochoi

According to the amendment procedure, the Draft Law was sent for comments from March to May 2024; was appraised by the Ministry of Justice and approved by the Government to submit to the National Assembly. The Minister of Industry and Trade, authorized by the Prime Minister, signed and issued on behalf of the Government Submission No. 380/TTr-CP dated August 7, 2024 to the National Assembly on the Draft Law on Electricity (amended) and was examined by the Committee for Science, Technology and Environment (KH,CN&MT) and agencies of the National Assembly, the Standing Committee of the National Assembly, and the Conference of full-time National Assembly deputies gave comments on the Draft Law.

The Ministry of Industry and Trade has received and explained the comments of the National Assembly deputies and revised the draft Law. On September 25, Minister of Industry and Trade Nguyen Hong Dien, authorized by the Prime Minister, signed and issued on behalf of the Government Submission No. 520/TTr-CP on the draft Law on Electricity (amended) and the Committee for Science, Technology and Environment held a meeting to review the draft Law.

On the afternoon of October 21, at the 8th session of the 15th National Assembly, under the authorization of the Prime Minister, Minister of Industry and Trade Nguyen Hong Dien reported to the National Assembly on the draft Law on Electricity (amended). On the afternoon of October 26, the National Assembly discussed the draft Law on Electricity (amended). Discussing in group 4, Minister of Industry and Trade Nguyen Hong Dien once again affirmed: "This Electricity Law fundamentally amends the shortcomings and problems arising in practice, including the issue of sanctions for investors who are behind schedule."

Source: https://vov.vn/kinh-te/luat-dien-luc-sua-doi-can-ban-nhung-bat-cap-vuong-mac-phat-sinh-trong-thuc-te-post1131294.vov