The Electricity Law was enacted in 2004 and amended in 2012, 2018, 2022, and 2023. Although it has undergone four amendments, each addressing some difficulties and obstacles, many provisions of the current Electricity Law have revealed inadequacies and problems, failing to resolve new and important issues arising in practice.
The draft Law on Electricity (amended) comprises six major policies, including planning and investment in electricity development to ensure national energy security; developing renewable and new energy sources; perfecting regulations on electricity operation conditions and the granting and revocation of electricity operation licenses;
Managing electricity trading activities to promote a transparent, fair, and efficient competitive electricity market and market-based electricity pricing; Managing and operating the power system, focusing on encouraging energy conservation, strengthening the implementation of electricity demand management and load adjustment solutions; Ensuring safe electricity use after the meter and guaranteeing the safety of dams and reservoirs during the construction and operation phases of hydropower projects.
The draft Law on Electricity (amended) comprises 9 chapters with 130 articles, closely adhering to the 6 policies mentioned above and not adding any new policies. Specifically, it inherits and amends mainly 62 articles concerning general regulations, licensing of electricity operations, the electricity market, electricity trading, electricity prices, rights and obligations of electricity units and electricity users, protection of electricity infrastructure, and electrical safety.
Remove 4 articles (propaganda and dissemination of legal education ; application dossiers 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 policies on development, investment, electricity saving, and electricity prices).
Simultaneously, 68 articles were added concerning power development planning, bidding policies for investors in power generation projects, policies for handling emergency power sources, policies for developing and operating gas-fired thermal power plants, power generation projects invested under the public-private partnership method using build-operate-transfer contracts, policies on renewable energy (solar power, offshore wind power), and new energy (such as hydrogen). The mechanisms for direct electricity trading, the full implementation of all levels of the competitive electricity market, and the eventual elimination of cross-subsidization of electricity prices between economic sectors, time-of-day electricity trading prices, and multi-sectoral electricity pricing were also discussed.
The Ministry of Industry and Trade stated that the increase in Articles and Clauses in the Draft Law is primarily and essentially a new regulation to pave the way for the strong development of the country's renewable energy potential; to develop a competitive electricity market under market mechanisms with state management; and to supplement regulations on investment in the construction of emergency power projects to ensure electricity supply security and to impose strict penalties on power projects that are behind schedule.
According to Mr. Tran Viet Hoa, Director of the Electricity Regulatory Authority (Ministry of Industry and Trade), the amendment of the Electricity Law addresses the shortcomings and inadequacies of the current law. “It ensures the synchronization and uniformity of the legal system, contributing to promoting the sustainable and efficient development of the electricity sector, achieving the goal of doubling the total installed capacity of the entire system by 2030 and fundamentally changing the structure of power sources to achieve net zero emissions by 2050, ensuring national energy security, providing sufficient electricity for socio-economic development and meeting the needs of the people,” Mr. Hoa stated.
Following the amendment process, the draft Law was sent for comments from March to May 2024; it was appraised by the Ministry of Justice and approved by the Government for submission to the National Assembly. The Minister of Industry and Trade, acting on behalf of the Government and authorized by the Prime Minister, signed and issued Submission No. 380/TTr-CP dated August 7, 2024, to the National Assembly regarding the draft Law on Electricity (amended). The draft Law has been reviewed by the Committee on Science, Technology and Environment (S&T) and other National Assembly agencies, and has received feedback from the Standing Committee of the National Assembly and the Conference of National Assembly Deputies working in specialized fields.
The Ministry of Industry and Trade has incorporated and addressed the comments from National Assembly deputies and revised the draft Law. On September 25th, Minister of Industry and Trade Nguyen Hong Dien, acting on behalf of the Government and authorized by the Prime Minister, signed and issued Submission No. 520/TTr-CP on the draft Law on Electricity (amended), and the Committee on Science, Technology and Environment held a session to review the draft Law.
On the afternoon of October 21st, at the 8th session of the 15th National Assembly, on behalf 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 26th, the National Assembly discussed the draft Law on Electricity (amended) in group sessions. During the discussion in Group 4, Minister Nguyen Hong Dien reiterated: “This revised Law on Electricity fundamentally addresses the shortcomings and obstacles arising in practice, including the issue of sanctions against 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
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