The Electricity Law (amended) will encourage investment in renewable energy.

According to Lawyer Nguyen Thanh Ha, the revised Electricity Law paves the way for clearer and more transparent legal mechanisms; encouraging investment in renewable energy sources.

The Electricity Law (amended) has been passed by the National Assembly. This is an important Law project, having a great impact on the economy, ensuring the country's growth and development goals as well as national energy security. Cong Thuong Newspaper had an interview with Lawyer Nguyen Thanh Ha - Chairman of SB LAW Firm about the Electricity Law (amended).

The revised Electricity Law is of great significance in reshaping Vietnam's electricity market, especially in the context of the global push to strongly transition to renewable and sustainable energy sources. Photo: VNA

Sir, how important is the National Assembly's passing of the Electricity Law (amended) to national energy security ?

The National Assembly's approval of the Electricity Law (amended) has great significance in reshaping the Vietnamese electricity market, especially in the context of the global strong push for the transition to renewable and sustainable energy sources. This is not only a legal turning point but also opens up great opportunities for the renewable energy industry and the electricity market to operate more transparently and effectively. I believe that the new Law has the following important implications:

Firstly , the amendment to the Electricity Law has paved the way for clearer and more transparent legal mechanisms, encouraging investment in renewable energy sources such as solar power, wind power and new energy technologies. This is very important in the context of Vietnam's strong commitment to the international community on reducing greenhouse gas emissions and sustainable development. The new law will help attract domestic and foreign investors to participate in building energy infrastructure, especially projects using high technology and being environmentally friendly.

Second , the Law on Eliminating the Cross-Subsidy Mechanism for Electricity Prices will create more fairness among consumer groups, while improving economic efficiency in operating the electricity system. Eliminating this mechanism is an important step towards building a more competitive and transparent electricity market. Consumers and businesses will benefit from electricity prices that are consistent with actual needs and costs, while promoting efficient energy use.

Third , the Law contributes to strengthening national energy security. The new Law not only addresses issues related to electricity prices but also improves the management, planning and operation mechanisms of the national power system. This is especially important in the context of increasing electricity demand as the economy develops rapidly. Policies supporting the development of domestic power sources and diversifying supply sources will help reduce dependence on energy imports, ensuring the stability of the national energy system.

Fourth , the Law promotes economic growth and improves people's lives. A stable and reasonably priced electricity system not only supports business development but also improves people's quality of life, especially in rural and remote areas. The revised Law will contribute to narrowing the development gap between regions, thereby improving fairness in access to electricity.

Accordingly, the Electricity Law (amended) is not only an important legal tool but also a driving force for Vietnam to transform in the energy sector, meet the requirements of global trends and create long-term benefits for the economy, environment and society.

Lawyer Nguyen Thanh Ha – Chairman of SB LAW Firm

The purpose and viewpoint of the Electricity Law (amended) is to promptly and fully institutionalize the Party's guidelines and policies on sustainable development of the electricity sector. At the same time, it is to overcome the difficulties and shortcomings of the current Law, ensuring the consistency and unity of the legal system. What is your viewpoint on this issue?

Party resolutions have emphasized the importance of transforming energy towards green, clean and emission-reducing, meeting international commitments on climate change. Therefore, the amendment of the Electricity Law is an opportunity for the Party's policies to be concretized into legal regulations, creating conditions for effective implementation in practice.

Besides, Although the current Law has achieved many successes, it still has limitations, such as inflexible management mechanisms, lack of transparency in electricity prices, and ineffective incentives for renewable energy. Amending the Law to overcome these limitations, while creating consistency and synchronization with other laws such as the Law on Environmental Protection, the Investment Law, and regulations on sustainable economic development, is extremely necessary.

In particular, in the context of Vietnam's commitment to reduce net emissions to zero by 2050, the new Law integrates mechanisms to support the development of renewable energy, clean electricity and promote energy transition. This is not only in line with global trends but also enhances Vietnam's international integration, attracting foreign investment and regional cooperation.

Thus, the development of the Electricity Law (amended) with the aim of institutionalizing major policies, overcoming shortcomings and ensuring the consistency of the legal system is extremely necessary and timely. This is not only a necessary adjustment to meet the reality but also a strategic step in the sustainable development of the electricity industry, ensuring energy security and promoting economic growth.

The Electricity Law (amended) has been prepared very seriously by the Ministry of Industry and Trade; mobilizing all resources with a truly open-minded, listening, and democratic spirit; making the most of the intelligence and contributions of experts, scientists, the business community, voters, and people nationwide. What do you think about the role and determination of the Ministry of Industry and Trade towards the Electricity Law (amended)?

The role of the Ministry of Industry and Trade in preparing and promoting the adoption of the Electricity Law (amended) is, in my opinion, extremely important, demonstrating a high determination and sense of responsibility for the sustainable development of the energy sector, as well as the national economy. This is demonstrated through a number of outstanding aspects such as:

The Ministry of Industry and Trade has demonstrated its seriousness in developing the Electricity Law Project (amended) by mobilizing resources and organizing extensive consultation from many groups of subjects, including experts, scientists, the business community, and the people. This not only ensures objectivity and comprehensiveness but also helps the legal document accurately reflect practical needs, as well as the long-term development orientation of the country. This is a clear demonstration of the open-minded and democratic spirit of the management agency.

In addition, the Ministry of Industry and Trade not only plays the role of a drafting agency but also a leader and orientator for national energy development policies. In the context of the energy sector facing many challenges such as climate change, increasing electricity demand, and pressure to reduce emissions, the Ministry has demonstrated its strategic vision by proposing appropriate policies, from encouraging the development of renewable energy, improving electricity pricing mechanisms, to enhancing national energy security.

It is noteworthy that the Ministry of Industry and Trade has created conditions for stakeholders, from businesses to voters, to participate in contributing their opinions during the law-making process. The organization of workshops, in-depth discussions, and meetings with different subjects shows the Ministry's efforts to balance economic, social, and environmental benefits. This not only helps improve the quality of the draft but also strengthens social consensus for the new regulations.

The development and completion of the Electricity Law (amended) is not only an immediate responsibility but also a long-term commitment of the Ministry of Industry and Trade in ensuring energy security, promoting sustainable development, and improving people's quality of life.

To bring the Electricity Law into effect soon, do you have any specific recommendations from a legal perspective?

In order for the Electricity Law (amended) to soon come into effect and be effective, there needs to be synchronous and specific solutions from a legal perspective, ensuring feasibility and suitability with practice.

Firstly , it is necessary to issue detailed and timely guidance documents. One of the factors that determines the success of the law is the guidance documents for implementation. The Government and relevant agencies need to promptly issue decrees and guiding circulars to specify the provisions of the law. The guidance content needs to be detailed and clear, avoiding generality and difficulty in implementation.

Second , it is necessary to establish a transparent enforcement monitoring mechanism. To ensure effective enforcement of the law, it is necessary to establish a transparent monitoring mechanism, with the participation of management agencies, social organizations, and the business community. This mechanism not only checks compliance with the law but also promptly detects problems, thereby adjusting policies accordingly.

Third , it is necessary to promote the dissemination and popularization of the law. An important step for the law to come into effect is to raise awareness among relevant parties, from people, businesses to local authorities. It is necessary to organize propaganda programs, seminars, and training courses to disseminate the content of the law, especially new regulations, important changes, and the rights and responsibilities of the parties.

Fourth , it is necessary to develop a reasonable implementation roadmap. To avoid causing disruption and difficulties for stakeholders, it is necessary to establish an implementation roadmap that is suitable for actual conditions. For example, the elimination of the cross-subsidy mechanism for electricity prices and the establishment of a competitive electricity market should be implemented step by step, with specific stages to give businesses, consumers and management agencies time to adapt.

Fifth , strengthen human resource training. The implementation of the Electricity Law (amended) requires the management team and human resources in the electricity industry to clearly understand the new regulations. Therefore, it is necessary to organize training programs to improve the professional capacity of this team, and at the same time, supplement human resources at management agencies at both central and local levels.

Sixth , encourage public-private partnership and international investment. Laws need to be implemented in a way that promotes the participation of the private sector and international investors. Legal mechanisms to encourage investment, especially in the field of renewable energy, need to be widely disseminated to attract social resources. At the same time, investment regulations must be transparent and stable to create confidence for investors.

Seventh , periodic assessment and flexible adjustment. The law needs to be applied flexibly, accompanied by periodic assessment to check the effectiveness of implementation. Through periodic reports, the management agency can identify problems and shortcomings and propose timely adjustment solutions. This is especially important in the context of the energy industry constantly changing and facing new challenges.

In addition, the implementation of the law needs to focus on ensuring fairness between parties, especially consumers and electricity service providers. Dispute resolution mechanisms and consumer rights protection need to be clearly established, fair and accessible.

Thank you!

Source: https://congthuong.vn/luat-su-nguyen-thanh-ha-luat-dien-luc-sua-doi-se-khuyen-khich-dau-tu-vao-nang-luong-tai-tao-362469.html