This Decision sets forth the framework for wholesale electricity prices established by Vietnam Electricity Corporation for Electricity Joint Stock Corporations in 2019, applicable from January 1, 2019 to December 31, 2019. Electricity Joint Stock Corporations must adhere to this framework when wholesaling electricity.
Scope of application
Vietnam Electricity Corporation, Electricity Joint Stock Corporations
Key points
- Vietnam Electricity Corporation → shall apply the average wholesale electricity price framework for 2019 from January 1, 2019 to December 31, 2019, with different maximum and minimum prices for each Electricity Joint Stock Corporation.
- Electricity Joint Stock Corporations → shall sell electricity at wholesale prices within the prescribed framework, not lower than the minimum price and not higher than the maximum price.
- Vietnam Electricity Corporation → shall be responsible for setting specific prices for each Electricity Joint Stock Corporation based on this framework.
- Vietnam Electricity Corporation → has the authority to adjust the framework when necessary, based on fluctuations in production costs and revenues of Electricity Joint Stock Corporations.
- The framework applies from January 1, 2019 to December 31, 2019.
🌐 Social impact of this document
- Positive impact: Reduces cost burdens for Electricity Joint Stock Corporations when wholesaling electricity.
- Negative impact: May cause difficulties in adjusting prices according to market fluctuations if the framework is too rigid.
❓ Frequently asked questions
What is the wholesale electricity price framework for 2019?
The average wholesale electricity price framework for Vietnam Electricity Corporation for Electricity Joint Stock Corporations in 2019 ranges from 1,281 VND/kWh to 1,790 VND/kWh, depending on each Electricity Joint Stock Corporation.
Can Electricity Joint Stock Corporations independently determine wholesale electricity prices?
No, Electricity Joint Stock Corporations must comply with the framework established by Vietnam Electricity Corporation, not lower than the minimum price and not higher than the maximum price.
When can Vietnam Electricity Corporation adjust the wholesale electricity price framework?
Vietnam Electricity Corporation may adjust the wholesale electricity price framework when necessary, based on fluctuations in production costs and revenues of Electricity Joint Stock Corporations.
When does the framework apply?
The framework applies from January 1, 2019 to December 31, 2019.
How many Electricity Joint Stock Corporations are specified in this decision?
This Decision specifies five Electricity Joint Stock Corporations: North, South, Central, Hanoi, and Ho Chi Minh City.
Full text
|
MINISTRY OF INDUSTRY AND TRADE Number: 2617/QD-BCT |
SOCIALIST REPUBLIC OF VIETNAM Independence - Freedom - Happiness Hanoi, August 22, 2019 |
Regulations on the framework for wholesale electricity prices of Vietnam Electricity Corporation for Electricity Joint Stock Corporations in 2019
THE MINISTER OF INDUSTRY AND TRADE
Pursuant to the Electricity Law dated December 3, 2004 and the Law Amending and Supplementing Certain Provisions of the Electricity Law dated November 20, 2012;
Pursuant to the Government Decree No. 98/2018/ND-CP dated August 18, 2018 stipulating the functions, tasks, powers, and organizational structure of the Ministry of Industry and Trade;
Based on Decree No. 137/2013/NĐ-CP dated October 21, 2013, issued by the Government, detailing the implementation of certain provisions of the Electricity Law and the Law Amending and Supplementing Certain Provisions of the Electricity Law;
At the proposal of the Director of the Electricity Regulatory Authority,
DECISION:
Article 1. Approves the average wholesale electricity price framework of Vietnam Electricity Corporation for Electricity Joint Stock Corporations in 2019 (excluding value-added tax) as follows:
|
Unit |
Maximum price (VND/kWh) |
Minimum price (VND/kWh) |
|---|---|---|
|
Electricity Joint Stock Corporation North |
1.348 |
1.281 |
|
Electricity Joint Stock Corporation South |
1.535 |
1.494 |
|
Electricity Joint Stock Corporation Central |
1.385 |
1.284 |
|
Electricity Joint Stock Corporation Hanoi |
1.634 |
1.549 |
|
Electricity Joint Stock Corporation Ho Chi Minh City |
1.790 |
1.723 |
Article 2. Based on the average wholesale electricity price framework prescribed in Article 1 of this Decision, the average wholesale electricity price of Vietnam Electricity Corporation for Electricity Joint Stock Corporations shall not be lower than the minimum price and not higher than the maximum price of the framework. Vietnam Electricity Corporation is responsible for issuing specific wholesale electricity prices for each Electricity Joint Stock Corporation in accordance with current regulations.
Article 3. In case it is necessary to adjust the average wholesale electricity price framework to align with fluctuations in production and business costs, electricity purchase costs from the power market, and the predetermined revenue and profit levels of Electricity Joint Stock Corporations, Vietnam Electricity Corporation is responsible for calculating and reporting to the Ministry of Industry and Trade for consideration and decision.
Article 4. The application period for the average wholesale electricity price framework of Vietnam Electricity Corporation for Electricity Joint Stock Corporations is from January 1, 2019 to December 31, 2019.
Article 5. The Director of the Office of the Ministry, the Director of the Electricity Regulatory Authority, the General Director of Vietnam Electricity Corporation, and related organizations and individuals are responsible for implementing this Decision./.
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Place of Receipt: - Prime Minister, Deputy Prime Ministers; - Office of the General Secretary; - Ministries, agencies equivalent to ministries, and government agencies; - Provincial and municipal People's Committees directly under the central government; - Official Gazette; - Government website; - Ministry of Industry and Trade website; - Ministry of Justice (Legal Compliance Inspection Bureau); - Departments of Industry and Trade of provinces and centrally-administered cities; - Vietnam Electricity Corporation; - Electricity Corporations; - Electricity Generation Corporation 3; - For record: VT, Electricity Regulatory Authority. |
DEPUTY MINISTER Hoang Quoc Vuong |
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