The Government Office recently sent an urgent dispatch to the Minister of Industry and Trade regarding recommendations to deal with shortcomings in the building and issuance of a pricing mechanism for electricity generation of transitional wind and solar power plants.
On March 20, Minister of Industry and Trade Nguyen Hong Dien also signed and sent a document to the Electricity of Vietnam (EVN), requesting it to urgently coordinate with investors of transitional renewable energy projects to reach a consensus on electricity prices before March 31, in order to put the plants into operation soon and avoid wastage of renewable resources.
Previously, on January 9, the Ministry of Industry and Trade asked the EVN and relevant investors to agree on power generation prices to ensure they do not exceed the price bracket promulgated by the ministry.
In early 2023, the Ministry of Industry and Trade introduced new ceiling prices for solar and wind energy in Vietnam.
On October 3, 2022, it released a circular which sets out a framework for the EVN to enter into tariff negotiations with developers of transitional solar and wind energy projects by reference to some specific ceiling prices.
On January 7, the ministry set the ceiling prices at VND1,184.90 (US$5.05 cents) per kWh for ground-mounted solar projects, VND1,508.27 for floating solar projects, VND1,587.12 for onshore wind projects, and VND1,815.95 for offshore wind projects.
The EVN will now use these ceiling prices to negotiate tariffs with transitional projects, which are not subject to any tariff so far.
