The Ministry of Industry and Trade yesterday reported on the situation of industrial production and trade nationwide in 2023 while proposing several tasks and solutions for 2024.
In particular, regarding the management of electricity prices, the Ministry of Industry and Trade said that it will continue managing electricity prices in 2024 while promulgating avoided cost tariff - the cost that the utility would have paid if it had to produce electricity through thermal generation, electricity generation price frames, electricity wholesale prices for power corporations, electricity transmission prices, and ancillary service prices in 2024.
Moreover, the Ministry will check electricity production and business costs, and check electricity price plans of power plants; At the same time, the draft decision on the retail electricity tariff structure will be completed for submission to the Prime Minister in 2024.
In 2024, the Ministry of Industry and Trade will direct the Vietnam Electricity Group (EVN) and related units to ensure the progress of projects to release generation capacity of renewable energy sources (wind, solar). Additionally, it will implement the project to transform the National Load Dispatch Center into a one-member limited liability company operating the power system and electricity market.
Furthermore, the Ministry will mobilize all resources to ensure adequate electricity supply for production and daily life, absolutely avoiding electricity shortages in 2024.
Regarding building a competitive retail electricity market, the Ministry of Industry and Trade has submitted to the Prime Minister a draft proposal. Draft documents to develop a decree on direct electricity trading mechanism between large customers and renewable energy generator investors.
