On February 15, MOIT Minister Nguyen Hong Dien and Chair of the Commission for the Management of State Capital at Enterprises Nguyen Hoang Anh had a working session with Electricity of Vietnam (EVN) on electricity generation and electricity transmission line projects. 

Also discussed were EVN’s financial situation in 2022-2023 and the building of the average electricity retail pricing framework in 2023.

Dien praised EVN’s efforts to ensure sufficient electricity to serve socio-economic development of the country and people’s daily lives, especially as EVN has to face unprecedented challenges caused by global geopolitical conflicts and energy crisis which have led to input material price hikes in the world market.

Dien instructed agencies belonging to MOIT to work with EVN on measures to solve problems on developing electricity projects, the electricity market and electricity sale policy.

Regarding solutions to adjust the average electricity retail prices in 2023, Dien asked EVN to strictly comply with procedures stipulated in the PM’s Decision No 24/2017 dated June 30, 2017 on the electricity price adjustment scheme.

The adjustment needs to be considered thoroughly with assessments of all factors that may impact inflation, people’s daily lives and the government’s macroeconomic management.

Dien also told EVN to suggest amendments to the current regulations on the retail electricity adjustment scheme, retail price structuring, electricity pricing mechanism, electricity market, and direct power purchase agreements (DPPA). 

This aims to ensure that electricity prices reflect all input market factors, creating a level playing ground for involved parties in the market.

Anh instructed EVN to apply solutions to solve problems related to the investment and construction of power projects, including O Mon III and Tri An. 

He also urged cooperation with agencies to complete the report to the PM on solutions to ensure balance of electricity production and business results in 2022, including assessments and classification of enterprises.

Prior to that, MOIT asked EVN to quickly come up with average electricity retail prices for 2023. 

EVN has been requested to finalize the report on production costs in 2022, and complete the financial report in 2022 of the holding company and work with audit firms.

Hanh Nguyen