VietNamNet Bridge – The Law on Electricity needs amendment to support economic development trends effectively, according to Deputy Minister of Trade and Industry, Hoang Quoc Vuong, speaking at an Electricity Law review conference held in Ha Noi yesterday, June 20.


Photo shows solar energy panels at the Punch Commune in Gia Lai Province. Electricity law will be amended to limit the monopoly of power production. (Photo: VNS)
Amendment should aim at increasing the responsibility while limiting the monopoly of power production and supply companies while protecting customer rights.


The Electricity Law, which came into effect on July 1, 2006, has revealed various limitations within the current economy that challenges the electricity industry, Vuong said.


According to a ministry report, several regulations, based on electricity prices and investment, are no longer appropriate to the country's economic development, preventing investment and energy saving.


The report revealed a lack of regulations on supervising the implementation of electricity related projects, which has led to power shortages throughout the country.


Power management needs to be clarified among relevant authorities in order to avoid overlap, representatives told the conference.


New development and usage regulations focused on renewable energy have been proposed in order to help protect the environment and reduce climate change.


The Prime Minister will ratify a periodical framework for power prices in order to meet the demands of a competitive power market, following market rules.


The Electricity Law will be amended in order to help develop a more competitive power market in Viet Nam, currently monopolised by Electricity Viet Nam (EVN), by July.


Incentives will be given to power plants selling electricity at lower prices.


VietNamNet/Viet Nam News