Mr. Nguyen Dinh Thanh - General Director of Hanoi Paint Chemical Joint Stock Company: The Electricity Law (amended) plays an important role in socio-economic development.
According to Mr. Nguyen Dinh Thanh, the Electricity Law (amended) has been officially passed by the National Assembly, effective from February 1, 2025. Compared to the current law, the Electricity Law (amended) that has just been passed has many notable new policies.
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| Mr. Nguyen Dinh Thanh - General Director of Hanoi Paint Chemical Joint Stock Company |
In particular, there are regulations on electricity price policies and electricity service prices to ensure that they reflect reasonable and valid electricity production and business costs of electricity units. At the same time, it creates conditions for economic sectors to invest in electricity development with reasonable profits, save energy resources, use renewable energy and new energy in electricity activities, contributing to promoting socio-economic development, especially in rural areas, ethnic minority areas, mountainous areas, border areas, islands and areas with particularly difficult socio-economic conditions...
As a manufacturing enterprise, the cost and stable use of electricity are very important to Hanoi Paint Chemical Joint Stock Company. The amendment to the Electricity Law this time will contribute to speeding up the implementation of electricity projects and works, ensuring the security of electricity supply, especially in the context of huge demand for electricity and forecast to increase rapidly in the near future.
In addition, electricity prices will be implemented according to market mechanisms but with price regulation by the State in accordance with the level of competitive electricity market; electricity prices ensure encouragement of efficient and economical use of electricity; ensure the right to self-determination of electricity purchase prices, electricity selling prices do not exceed the electricity price frame, retail electricity price structure regulated by the State; develop appropriate electricity price mechanisms for specific customer groups according to the State's policies in accordance with the socio-economic development situation in each period.
The revised Electricity Law is not only related to the electricity sector but also to production, business, and social life. One of the important changes in the revised Electricity Law is to encourage businesses to use advanced technology, reduce emissions, and increase competitiveness. This will help Vietnam fulfill its commitment to net zero emissions by 2050.
The Electricity Law 2024 replaces the Electricity Law dated December 3, 2004; which was amended and supplemented 4 times in 2012, 2018, 2022 and 2023 (effective from July 1, 2024), after nearly 20 years of implementation. The Electricity Law (amended) takes effect from February 1, 2025, consisting of 9 Chapters and 81 Articles, fully implementing and institutionalizing the spirit of Resolution No. 55-NQ/TW dated February 11, 2020 of the Politburo on the orientation of Vietnam's national energy development strategy to 2030, with a vision to 2045. |
Source: https://congthuong.vn/luat-dien-luc-sua-doi-co-vai-tro-quan-trong-trong-phat-tien-kinh-te-xa-hoi-362373.html
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