Circular No. 09/2024/TT-BCT on the calculation of average electricity selling price

CIRCULAR

Provisions on the calculation of average electricity sales price

Based on the Electricity Law dated December 3, 2004; the Law Amending and Supplementing Certain Articles of the Electricity Law dated November 20, 2012; the Law Amending and Supplementing Certain Articles of the Public Investment Law, the Public-Private Partnership Investment Law, the Investment Law, the Housing Law, the Bidding Law, the Electricity Law, the Enterprise Law, the Special Consumption Tax Law, and the Civil Enforcement Law dated January 11, 2022;

Based on Decree No. 96/2022/NĐ-CP dated November 29, 2022 of the Government stipulating the functions, tasks, powers, and organizational structure of the Ministry of Industry and Trade;

Based on Decree No. 137/2013/NĐ-CP dated 21 the 10 Pursuant to Decree No. 32/2019/NĐ-CP dated April 10, 2019 of the Government on assigning tasks, procurement or tendering for the supply of products and services using state budget from regular operating expenses;13 of the Government detailing implementation of certain provisions of Electricity Law and the Law Amending and Supplementing Certain Articles of the Electricity Law;

Based on Decision No. 05/2024/QĐ-TTg dated March 26, 2024 of the Prime Minister stipulating the mechanism for adjusting the average retail electricity price;

At the proposal of the Director of the Electricity Regulatory Authority,

The Minister of Industry and Trade issues this Circular to provide guidance on calculating the average electricity sales price.n.

PART I

GENERAL PROVISIONS

Article 1. Scope and Applicability

Article 1. This Circular guides Vietnam Electricity Corporation in calculating the average electricity sales price in accordance with Article 4 of Decision No. 05/2024/QĐ-TTg dated March 26, 2024 of the Prime Minister regarding the mechanism for adjusting the average retail electricity price.

Article 2. This Circular applies to Vietnam Electricity Corporation and its affiliated units, organizations, and individuals related thereto.

Article 2. Interpretation of Terms

In this Circular, the following terms shall be understood as follows:

1. ofAverage electricity sales price means the average retail electricity price within the range of the average retail electricity price framework set by the Prime Minister.

2. System Operator and Market Operator National Power System Dispatch Center or other names depending on the level of development of the electricity market.

3. Market-based electricity price is the price level determined for each unit of electricity for each trading cycle, applied to calculate the electricity payment amount in the electricity market.

4. Market-based capacity price is the calculated price level for each trading cycle, applied to calculate the capacity payment amount for power generation units in the electricity market.

5. BOT Power Plant is a power plant invested in under the Build-Operate-Transfer model through a contract between the investor and the competent state authority.

6. N |||Strategic multi-purpose hydropower plant and dependent accountingrefers to strategic multi-purpose hydropower plants and dependent accounting hydropower plants under Vietnam Electricity Corporation. refers collectively to Northern Power Corporation, Southern Power Corporation, Central Power Corporation, Hanoi Power Corporation, and Ho Chi Minh City Power Corporation.

7. Total Commercial Electricity Output is the total electricity output of the Vietnam Electricity Corporation and the Electricity Corporations sold to customers.

8. Electricity Corporation refers to the year during which the average electricity sales price is calculated according to this Circular, from January 1 to December 31 of the Gregorian calendar year.

9. Year N METHOD FOR ESTABLISHING THE AVERAGE ELECTRICITY SALES PRICE

10. Year N-1 is the Gregorian calendar year immediately preceding Year N |||.

11. Year N-2 is the Gregorian calendar year immediately preceding Year N-1.

Chapter II

ANNUAL AVERAGE ELECTRICITY SALES PRICE ESTABLISHMENT METHOD

Section 1

. Annual average electricity sales price establishment method

Article 3. Method for setting the average electricity sales price in the power distribution and retail electricity marketlogoAnnual average electricity sales price establishment method

Article 1. The annual average electricity sales price is calculated based on the formula prescribed in Clause 2, Article 4 of Decision No. 05/2024/QĐ-TTg dated March 26, 2024 of the Prime Minister regarding the mechanism for adjusting the average retail electricity price (hereinafter referred to as Decision No. 05/2024/QĐ-TTg).

Article 2. The costs of power generation, system ancillary services, transmission service purchase costs, distribution-retail service purchase costs, system dispatching, and power market transaction management, industry operation-management costs included in the annual average electricity sales price are determined respectively in accordance with Articles 4, 5, 6, 7, 8, and 9 of this Circular.

Article 3. The forecasted total electricity consumption volume for the year N ||| is calculated by Vietnam Electricity Corporation corresponding to the power supply plan and national power system operation plan for year N.

Article 4. The documentation for the annual average electricity sales price proposal as stipulated in Clause 2, Article 5 of Decision No. 05/2024/QĐ-TTg

Article 4. Method for establishing total cost power generation stage TĐN

1. Total generation cost for the year (CPĐ) shall be determined according to the following formula: N ||| (VL

C_{= C}TTĐ_{+ C} ĐMT_BOT ĐMT_TTN ĐMT_{from direct and indirect power plants participating in the electricity market (in dong), is determined according to the provisions of Clause 2 of this Article;} ĐMT_NK ĐMT_{a) C}

Where:

C_{+ C}b) C N ||| from strategic multi-purpose hydropower plants and dependent accounting plants (in dong), is determined according to the provisions of Clause 3 of this Article;

C_BOT(VND) from BOT power plants, as specified in Clause 2 of this Article; N ||| from BOT power plants (in dong), is determined according to the provisions of Clause 2 of this Article;

C_TTN(VND) from small renewable energy power plants; N ||| from small hydropower plants (in dong), is determined according to the provisions of Clause 2 of this Article;

C_{from direct and indirect power plants participating in the electricity market (in dong), is determined according to the provisions of Clause 2 of this Article;}b) C N ||| from renewable energy and new energy power plants including hydrogen, green ammonia, and other forms of new energy different from traditional energy (in dong), is determined according to the provisions of Clause 2 of this Article;

C_NK(VND) from small renewable energy power plants; N ||| Imported electricity (in dong), is determined according to the provisions of Clause 2 of this Article.

C_{a) C}b) C N ||| from imported electricity (in dong), is determined according to the provisions of Clause 2 of this Article.

Article 2. The total cost of purchasing electricity from direct and indirect power plants participating in the electricity market, BOT power plants, small hydropower plants, renewable energy and new energy power plants, and imported electricity is determined based on power purchase contracts and electricity market regulations, wherein:

a) Power plant production volume: is determined according to the power supply plan and national power system operation plan for year N |||;

đ) Average monthly capacity price in the market approved based on the simulation results of the electricity market operation plan of the System Operation Unit and the Electricity Market;

c) Contracted volume (Qc) of direct power plants participating in the electricity market provided by Vietnam Electricity Corporation/System Operation Unit and the electricity market.

d) Average monthly electricity price in the market is calculated based on the simulation results of the electricity market operation plan for year N |||.

f) Average monthly capacity price in the market is approved based on the simulation results of the electricity market operation plan for year N |||.

e) Electricity prices and input parameters such as fuel prices, foreign exchange rates of direct and indirect power plants participating in the electricity market, BOT power plants, renewable energy and new energy power plants, and imported electricity: are determined according to the electricity prices used in the calculation of the power supply plan and national power system operation plan for year N |||.

g) Cost of purchasing electricity from small hydropower plants using avoided cost tariff: is determined according to the avoided cost tariff for year N ||| (if there is no price for year N ||| then it follows year N-1from strategic multi-purpose hydropower plants and other dependent accounting power plants during the period not participating in competitive electricity markets of Vietnam Electricity Corporation as follows: N-1.

Article 3. Method for determining total cost and regulated profit from strategic multi-purpose hydropower plants and dependent accounting plants

a) Total cost and regulated profit from strategic multi-purpose hydropower plants and dependent accounting plants (C_BOT), is determined according to the following formula:

C_BOTVL_TĐĐMT(VND) from direct and indirect power plants participating in the electricity market;_HTPT

Where:

C_TĐĐMT: Regulated cost and profit from strategic multi-purpose hydropower plants (in dong), is determined according to the provisions of point b, Clause of this Article;

C_HTPT||| Standardized cost and profit norms from dependent accounting plants (in dong) are determined according to the provisions set forth in point c of this Clause;

||| b) Standardized costs and profit norms from strategic multi-purpose hydroelectric power plants, including large hydroelectric power plants with significant economic and social importance, national defense, and security as stipulated in Decision No. 2012/QĐ-TTg dated October 24, 2016 of the Prime Minister, and power plants operating in conjunction with large hydroelectric power plants with such significant importance, as decided by the Ministry of Industry and Trade in N ||| (C_TĐĐMT||| , shall be determined according to the provisions of Circular No. 26/2017/TT-BCT dated November 29, 2017 of the Minister of Industry and Trade on the method and procedure for establishing annual costs and electricity prices for strategic multi-purpose hydroelectric power plants and subsequent amendments, supplements, or replacements, based on reasonable and legitimate costs for electricity production and business operations consistent with various technological types; for new power plants, Vietnam Electricity Corporation has the responsibility to develop a two-year cost plan.

||| c) Standardized costs and profit norms for the year N ||| ||| from dependent accounting power plants (C_HTPT||| ) are determined as follows:

||| - For power plants directly selling electricity to Power Trading Corporations, they shall comply with the provisions of signed power purchase contracts;

||| - For other dependent accounting power plants (C_{||| HTPTkhac}VL

C_{||| HTPTkhac}VL_KH(VND) from direct and indirect power plants participating in the electricity market;_{N |||L}(VND) from direct and indirect power plants participating in the electricity market;_TL(VND) from direct and indirect power plants participating in the electricity market;_SCL(VND) from direct and indirect power plants participating in the electricity market;_NL(VND) from direct and indirect power plants participating in the electricity market;_MN(VND) from direct and indirect power plants participating in the electricity market;_{Economic life of the power plant as specified in the Appendix attached to this Circular (years).}(VND) from direct and indirect power plants participating in the electricity market;_K +
||| + LN_{||| HTPTkhac} ||| + GT

Where:

||| In cases where audit data have been independently audited for the year N-1METHOD FOR CALCULATING THE AVERAGE RETAIL ELECTRICITY PRICE IN THE YEAR N-1 to calculate the corresponding cost for the year N |||.

||| Vietnam Electricity Corporation is responsible for developing costs for the year N for newly operational or newly transferred dependent accounting power plants.

||| d) In cases where major repairs of strategic multi-purpose hydroelectric power plants and dependent accounting power plants are carried out centrally through a dependent accounting repair unit under Vietnam Electricity Corporation, the standardized costs and profits of this unit are determined similarly to other dependent accounting power plants as stipulated in point c of Clause 3 of this Article.

Article 5. Method for calculating total costs of power plants providing ancillary services to the electricity system system

The total cost of power plants providing ancillary services to the electricity system in year N, including the trial operation costs of power plants determined under ancillary service provision contracts, shall be calculated as follows:

- Electricity output shall be determined according to the power supply plan and national electricity system operation plan for year N;

- Electricity prices and input parameters such as fuel costs and foreign exchange rates shall be determined based on the parameters used by the System Operator and the electricity market in planning power supply and operating the national electricity system for year N.

Article 6. Method for calculating total costs of purchasing transmission service

The total costs of purchasing transmission service in year N ||| (C_No.) shall be determined in accordance with the regulations of the Ministry of Industry and Trade regarding the method, procedure for establishing, reviewing, and approving transmission tariff rates.

Article 7. Method for establishing total cost purchasing distribution-retail electricity services distribution-retail electricity

1. Total cost of purchasing distribution-retail electricity services () in N ||| are determined according to the following formula:

Where:

: Total distribution-retail electricity cost of the State Corporation of Electricity ( i year N |||), determined in accordance with Clause 2 of this Article (in dong);

: Prescribed profit of the State Corporation of Electricity i year N ||| determined based on the return on equity ratio prescribed by the competent authority or based on the production and business plan approved by the competent authority (in dong);

2. The total distribution-retail electricity cost of the State Corporation of Electricity i in N ||| are determined according to the following formula:

VL,i,N_TL,i,N ĐMT_KH,i,N ĐMT_SCL,i,N ĐMT_MN,i,N ĐMT_BTK,i,N ĐMT_TC,i,N ĐMT_{+ C} +

                  + C_CT,i,N ĐMT_TXS,i,N ĐMT_{+ GT)} is the total material cost for the year

Where:

: Total cost of electricity purchase for the year (VND) from direct and indirect power plants participating in the electricity market, as specified in Clause 2 of this Article;_TL,i,N(VND), determined based on audited financial reports based on the results of inspection or announced production and business costs in year N ||| (in dong), determined based on the standards issued by the competent authority or organization;

c) C_KH,i,N(VND), including total labor costs and other costs with wage-like nature such as health insurance, social insurance, unemployment insurance, and trade union fees, determined according to relevant laws; N ||| (in dong) includes total labor costs and other costs with similar nature such as health insurance, social insurance, unemployment insurance, and trade union fees, as stipulated by relevant laws;

(VND) from small renewable energy power plants, as specified in Clause 2 of this Article;_SCL,i,N(VND), determined according to the regulations on the management, use, and depreciation of fixed assets by the Ministry of Finance or authorized agencies; N ||| (in dong), determined based on the regulations on management, use, and depreciation of fixed assets issued by the Ministry of Finance or the competent authority or organization;

(VND) from power plants using renewable and new energy including storage systems, as specified in Clause 2 of this Article;_MN,i,N(VND), determined based on the approved annual major repair plan by authorized agencies; N ||| (in dong), determined based on the major repair plan based on the standards issued by the competent authority or organization;

(VND) from imported electricity, as specified in Clause 2 of this Article._BTK,i,N: Other cash costs in year N ||| (in dong), including costs based on standards and costs outside the standards. Costs based on standards are determined based on the standards issued by the competent authority or organization. Costs outside the standards are determined according to current regulations and supplemented with reasonable anticipated costs for the year N |||;

a) Power plant production volume: as stipulated in Article 3 of this Circular;_TC,i,N. Taxes, fees, land rental payments, and meal allowances expected in year N ||| (in dong), including costs based on standards and costs outside the standards. Costs based on standards are determined based on the standards issued by the competent authority or organization. Costs outside the standards are determined according to current regulations and supplemented with reasonable anticipated costs for the year N |||;

(VND), including: total interest costs, bond costs, lease costs, and other fees for borrowing that must be paid in year_{+ C}, determined according to contracts and legally binding documents, and expected borrowing costs for production activities in year N ||| ; exchange rate differences expected in year N |||is determined according to financial accounting regulations; N |||h) GT: Reductions from cost of goods sold (VND); N ||| i) Regulated profit is determined according to Clause 5, Article 4 of Decree No. 72/2025/NĐ-CP.

h) C_CT,i,N: Total customer development, customer care, and communication costs in N ||| (in dong), determined based on the standards issued by the competent authority or organization;

||| i)_TXS,i,N: Metering costs in N ||| (in dong), determined based on the standards issued by the competent authority or organization;

k) C_{+ GT)}: Self-production costs in N ||| (in dong), which include costs for generating electricity from power units owned by the State Corporation of Electricity during year N;

l) GT: Cost deductions include income from leasing utility poles and selling off fixed assets (in dong).

Article 8. Method for establishing total cost purchasing system dispatching services and electricity market transaction management

1. The total cost of purchasing system dispatching services and electricity market transaction management in N ||| (C_{) is the total allowable dispatching and operation revenue for the System Operation Unit and the electricity market in year}) shall be determined in accordance with the regulations of the Ministry of Industry and Trade on system dispatching tariffs and electricity market transaction management.

2. In cases where the System Operator and electricity market are not independent accounting entities within the Vietnam Electricity Group, the total cost of purchasing system dispatching services and electricity market transaction management shall be determined similarly to the total operational-management costs of the industry as stipulated in Article 9 of this Circular.

Article 9. Method for calculating total operational - management costs and prescribed profit

Total operational-management costs of the industry include management costs related to the production and business activities of the Vietnam Electricity Group. Total operational-management costs of the industry and prescribed profit in N ||| (C_{) are determined according to the following formula:}VL

C_{) are determined according to the following formula:}VL_KH(VND) from direct and indirect power plants participating in the electricity market;_TL(VND) from direct and indirect power plants participating in the electricity market;_SCL(VND) from direct and indirect power plants participating in the electricity market;_MN(VND) from direct and indirect power plants participating in the electricity market;_BTK(VND) from direct and indirect power plants participating in the electricity market;_{+ GT + LN}(VND) from direct and indirect power plants participating in the electricity market;_{Economic life of the power plant as specified in the Appendix attached to this Circular (years).} + LN + GT

Where:

: Total cost of electricity purchase for the year (VND) from direct and indirect power plants participating in the electricity market, as specified in Clause 2 of this Article;_KH(VND), determined based on audited financial reports based on the results of inspection or announced production and business costs in year N ||| (in dong), determined based on the audited financial report based on the results of checking production and business costs in , excluding abnormal one-off costs in year, adjusted annually based on the average CPI of the three years immediately preceding the time of building the average retail electricity price and supplemented with reasonable costs expected to occur in year N but not yet included or fully included in year , excluding abnormal one-off costs in year||| , adjusted annually for inflation based on the average industrial product price index of the five years immediately preceding the time when the average electricity sales price is announced by the General Statistics Office, supplemented with anticipated reasonable costs for the year N ||| : Total financial costs in year , excluding abnormal one-off costs in year;

c) C_TL(VND), including total labor costs and other costs with wage-like nature such as health insurance, social insurance, unemployment insurance, and trade union fees, determined according to relevant laws; N ||| (in dong), including total labor costs and other costs with similar nature such as health insurance, social insurance, unemployment insurance, and trade union fees, as stipulated by relevant laws;

(VND) from small renewable energy power plants, as specified in Clause 2 of this Article;_SCL(VND), determined according to the regulations on the management, use, and depreciation of fixed assets by the Ministry of Finance or authorized agencies; N ||| : Total major repair costs in year

(VND) from power plants using renewable and new energy including storage systems, as specified in Clause 2 of this Article;_MN(VND), determined based on the approved annual major repair plan by authorized agencies; N ||| : Total external service costs in year N ||| approved by the competent authority;

(VND) from imported electricity, as specified in Clause 2 of this Article._BTK: Other cash costs in year N ||| (in dong), determined based on the audited financial report based on the results of checking production and business costs in , excluding abnormal one-off costs in year, adjusted annually based on the average CPI of the three years immediately preceding the time of building the average retail electricity price and supplemented with reasonable costs expected to occur in year N but not yet included or fully included in year , excluding abnormal one-off costs in year||| , adjusted annually for inflation based on the average industrial product price index of the five years immediately preceding the time when the average electricity sales price is announced by the General Statistics Office, supplemented with anticipated reasonable costs for the year N ||| : Total financial costs in year , excluding abnormal one-off costs in year;

a) Power plant production volume: as stipulated in Article 3 of this Circular;_{+ GT + LN}. Taxes, fees, land rental payments, and meal allowances expected in year N ||| are determined according to current regulations. Other cash costs in year N |||are determined based on audited financial reports based on the results of inspection or announced production and business costs in year N ||| , adjusted annually based on the average CPI of the three years immediately preceding the time of building the price and supplemented with reasonable costs expected to occur in year N ||| determined based on the audited financial report based on the results of checking production and business costs in , excluding abnormal one-off costs in year, adjusted annually based on the average CPI of the three years immediately preceding the time of building the average retail electricity price and supplemented with reasonable costs expected to occur in year N but not yet included or fully included in year , excluding abnormal one-off costs in year||| , adjusted annually for inflation based on the average industrial product price index of the five years immediately preceding the time when the average electricity sales price is announced by the General Statistics Office, supplemented with anticipated reasonable costs for the year N ||| : Total financial costs in year , excluding abnormal one-off costs in year;

(VND), including: total interest costs, bond costs, lease costs, and other fees for borrowing that must be paid in year_{Economic life of the power plant as specified in the Appendix attached to this Circular (years).}, determined according to contracts and legally binding documents, and expected borrowing costs for production activities in year N ||| ; exchange rate differences expected in year N |||are determined according to financial accounting regulations; N |||; the expected foreign exchange rate difference for year N is determined according to financial accounting regulations;

h) LN: Prescribed profit in N ||| of the operational-management sector (in dong), determined based on the return on equity ratio of the operational-management sector prescribed by the competent authority or based on the production and business plan approved by the competent authority;

i) GT: Cost deductions (in dong);

to calculate the corresponding costs in year N-1METHOD FOR CALCULATING THE AVERAGE RETAIL ELECTRICITY PRICE IN THE YEAR N-1 to calculate the corresponding cost for the year N |||.

Section 2.

METHOD FOR CALCULATING THE AVERAGE SELLING PRICE OF ELECTRICITY IN THE YEAR

Article 10. Method for Establishing the Average Selling Price of Electricity for the Year

1. The average selling price of electricity for the year shall be calculated according to the formula prescribed in Clause 2, Article 4 of Decision No. 05/2024/QĐ-TTg.

2. Total costs for purchasing transmission services, distribution-retail electricity services, system dispatching, and power market operation management: according to the annual average selling price plan.

3. Total generation costs and total costs of power plants providing ancillary services to the system shall be updated quarterly in accordance with the provisions of Articles 11 and 12 of this Circular.

4. Documentation for the annual average selling price plan shall be in accordance with Clause 2, Article 6 of Decision No. 05/2024/QĐ-TTg.

Article 11. Method for Determining Fixed Costssystem specialized agency under the People's Committee of the province/city.cost recovery power generation stage TĐN

1. Electricity output shall be determined according to the national power system operation method plan for April of the year. N ||| for the first quarter price update, July of the year N ||| for the second quarter price update, and October of the year N ||| for the third quarter price update or the annual power supply plan and national power system operation plan N ||| updated;

2. Electricity prices and input parameters such as fuel costs and foreign exchange rates shall be determined based on the parameters used by the System Operator and the Power Market in preparing the national power system operation method plan or the power supply and national power system operation plan for the year. N ||| update;

3. The total generation cost updated quarterly for the year N ||| is determined according to the formula prescribed in Clause 1, Article 4 of this Circular.

4. Costs of purchasing electricity from power plants, including direct and indirect participants in the power market, BOT power plants, renewable energy and new energy power plants, and imported electricity, shall be updated quarterly in year N based on power purchase contracts, actual costs incurred in the first months of the year, and projected costs for the remaining months of the year, including:

a) Costs of purchasing electricity in the first months of year N: determined based on actual payment documentation for electricity purchase costs, estimated for expenses without or incomplete payment documentation at the time of establishing the pricing plan.

b) The projected cost of purchasing electricity for the remaining months of the year N ||| is determined based on:

- Forecasted electricity output for the last months of the year as stipulated in Clause 1 of this Article.

- Contracted output (Qc) of power plants directly participating in the power market announced by Vietnam Electricity Corporation/System Operator and Power Market at the time of calculating the national power system operation method plan for year N., Update Qc of power plants according to Clause 1 of this Article when calculating the national power system operation method plan.

- Average monthly market electricity price calculated based on the simulation results of the power market by Vietnam Electricity Corporation/System Operator and Power Market using forecasted input data at the time of preparing the national power system operation method plan as stipulated in Clause 1 of this Article but not exceeding the approved maximum market electricity price for year N by the Electricity Regulatory Authority.

- Average monthly market capacity price according to the approved power market operation plan for the year. N ||| has been approved.

- Electricity prices and input parameters for power plants directly and indirectly participating in the power market, BOT power plants, renewable energy and new energy power plants, and imported electricity: determined according to Clause 2 of this Article.

- Costs of purchasing electricity from small hydropower plants applying avoidable cost tariffs: determined according to the avoidable cost tariff for the year. N ||| (if there is no price for year N ||| then it follows year N-1and the peak, normal, and off-peak electricity output structure of each region for the remaining months of the year N ||| according to the corresponding monthly electricity output structure ratio of each region implemented in the year N-1.

5. Total costs from strategic multi-purpose hydropower plants and dependent accounting shall be updated quarterly in year N. N ||| According to fluctuating taxes, fees, and payments depending on electricity output. Quarterly updated electricity output for calculating taxes, fees, and payments is as specified in Clause 1 of this Article.

Article 12. Method for Determining Total Costs of Power Plants Providing System Ancillary Services

1. Total costs of power plants providing ancillary services to the system shall be updated quarterly in year N. N ||| is determined based on the principle of costs of the initial months of the year N ||| according to the provisions of Clause 2 of this Article, the estimated costs for the remaining months of the year N ||| according to the provisions of Clause 3 of this Article.

2. Costs of purchasing electricity in the first months of year N already implemented: determined based on payment documentation for electricity purchase costs for power plants with payment documentation and estimated figures for power plants without payment documentation.

3. Costs of purchasing electricity from power plants providing ancillary services to the system expected for the remaining months of the year. N ||| is determined based on:

a) Forecasted output for the remaining months of year N is determined according to Clause 1 of Article 11.

b) Electricity prices and input parameters such as fuel costs and foreign exchange rates for the remaining months of year N are determined according to Clause 2 of Article 11.

Chapter III

IMPLEMENTATION

Article 13Responsibilities of the Electricity Regulatory Authority

To take the lead and coordinate with relevant agencies to report to the Minister of Industry and Trade on the inspection, review, and supervision of the average selling price plan established and adjusted by Vietnam Electricity Corporation in accordance with Decision No. 05/2024/QĐ-TTg.

Article 14Responsibilities of Vietnam Electricity Corporation

Vietnam Electricity Corporation is responsible for implementing the provisions of Decision No. 05/2024/QĐ-TTg and the provisions of this Circular.

Article 15. Effective date

1. This Circular takes effect from September 14, 2024.

2. In the course of implementation, if there are difficulties, relevant agencies, organizations, and individuals shall promptly reflect them to the Ministry of Industry and Trade for consideration and resolution./.