Circular No. 30/2026/TT-BCT Regulating the Method for Determining the Price of Power Generation Services from Independent Power Projects and Electricity Purchase-Sale Contracts, Including Determination of Capacity Price, Energy Price, Annual Reliability Capacity Test Method, Time-Periodic Price Adjustment, and Responsibilities of Relevant Parties.

 

DECREE

Regulations on the Method of Determining the Price of Power Generation Services for Electric Power Plants Invested in According to the Build-Operate-Transfer Model

Based on the Law on Electricity No. 61/2024/QH15;

 

Based on Decree No. 40/2025/NĐ-CP dated February 26, 2025 of the Government on the Functions, Powers, Tasks, and Organizational Structure of the Ministry of Industry and Trade;

In accordance with the proposal by the Director of the Electricity Department,

The Minister of Industry and Trade promulgates this Decree to regulate the method of determining the price of power generation services for electric power plants invested in according to the build-operate-transfer (BOT) model.

Chapter I

 

GENERAL PROVISIONS

Article 1. Scope of Application and Applicable Subjects

1. This Decree provides detailed guidance on paragraph 3 of Article 12, points g of clause 1 and b of clause 8 of the Law on Electricity No. 61/2024/QH15 regarding the principles for determining electricity prices to implement power projects; methods for determining the price of power generation services for electric power plants invested in according to the build-operate-transfer (BOT) model.

2. This Decree applies to the following subjects:

a) Entities, organizations, and individuals owning BOT electric power plants that comply with the national electricity development plan for the period 2021-2030, vision to 2050 and have not yet entered into an electricity purchase agreement;

b) Vietnam Electricity Group;

c) Entities and individuals relevant thereto.

Article 2. Interpretation of Terms

In this Decree, the following terms are understood as follows:

Seller of Electricity

1. is the entity that owns the BOT electric power plant. 2. Buyer of Electricity

is Vietnam Electricity Group (or its authorized representative). Contracted Capacity

3. is the installed capacity converted to the point of delivery for settlement purposes between the seller and buyer of electricity. Reliability Capacity

4. is the capacity determined at the point of delivery according to the annual reliability capacity test method agreed upon by the seller and buyer of electricity, as stipulated in their electricity purchase agreement. 5. Pre-determined Compensation Cost

is the amount that a party must pay to the other party under specific circumstances as specified in the electricity purchase agreement. Delivered Electricity

6. is all the electricity delivered by the seller to the buyer of electricity. Generating Unit

7. is an electric power entity owning one or more BOT electric power plants. Fuel Purchase Contract

8. are agreements between a generating unit and a fuel trading entity for supplying fuel to the power plant, entered into in accordance with relevant laws, ensuring legal origin of the fuel, competitive pricing, transparency. Fuel Transportation Contract

9. are agreements between a generating unit or a fuel trading entity and a transportation entity for transporting fuel to the power plant, entered into in accordance with relevant laws, ensuring competitive pricing, transparency. Base Year

10. is the year of total investment cost approved for use in calculating the price of power generation services. Heat Input Rate

11. is the amount of heat consumed to produce one kWh of electrical energy at the point of delivery (BTU/kWh or kJ/kWh or kcal/kWh). The heat consumption to produce one kilowatt-hour of electrical energy at the point of electricity supply and receipt (BTU/kWh or kJ/kWh or kCal/kWh).

 

Chapter II

METHOD OF DETERMINING THE ELECTRICITY GENERATION SERVICE FEE FOR BOT POWER PLANTS

Article 3. Principles for Determining the Electricity Generation Service Fee

1. The electricity generation service fee of a BOT power plant is based on:

a) Reasonable and allowable costs of the investor throughout the economic life of the project.

b) A financial internal rate of return (IRR) not exceeding 12%.

2. The electricity generation service fee for a BOT power plant includes the following components:

a) Capacity Fee (per kW) which includes average fixed price and fixed operation and maintenance costs, established according to the method specified in Clause 1 of Article 4 of this Circular;

b) Energy Fee (per kWh) which includes variable fuel cost and variable operation and maintenance cost, established according to the method specified in Clause 2 of Article 4 of this Circular.

3. The determination of the electricity generation service fee in foreign currency (if any) must comply with the regulations on foreign exchange management. The seller and buyer of electricity shall implement such determination after obtaining an approval document from a competent state authority.

4. The electricity generation service fee does not include value-added tax, water resource tax, payment for water resource exploitation rights, forest environmental service fees, pollution prevention and control fees, and industrial wastewater fees (applicable to thermal power plants) as well as other charges in money according to the regulations of the competent state authority managing such matters (excluding taxes and fees already included in the electricity purchase contract pricing scheme).

5. The electricity generation service fee is compared with the base price for electricity generation.

a) The electricity generation service fee compared with the base price for electricity generation (PC) (per kWh) shall not exceed the base price for electricity generation of the BOT power plant type established by the Minister of Industry and Trade at the base year, where the electricity generation service fee is calculated based on corresponding cost components relative to the cost components used in calculating the base price for electricity generation, as follows:

 

Where:

b) In case there is no base price for electricity generation at the base year, the electricity generation service fee shall be calculated by converting corresponding cost components to the nearest base price after the base year.

Article 4. Method of Determining Base Year Capacity Fee and Base Year Energy Fee

1. The base year capacity fee PCS (per kW) is determined according to the following formula:

 

Where:

2. The base year energy fee PĐNis determined as follows:

PĐN = PBĐ + VOMCb

Where:

3. The variable fuel cost for the base year PBĐis determined as follows:

 

Where:

4. The variable operation and maintenance cost per kWh for the base year is determined according to the method specified in Article 8 of this Circular.

5. Costs of testing, trial operation, and acceptance of power plants: Payment for costs arising from testing, trial operation, and acceptance prior to commercial operation shall be borne by the seller and buyer of electricity and shall not be duplicated in the total investment amount used in calculating the electricity price.

Article 5. Method of Establishing Fixed Average Prices

1. The fixed average price (FC) for a power plant is determined based on the annual fixed prices (FCj) of the power plant according to the financial analysis of the project as specified in Form 1 and Form 2 appended hereto. The input parameters used to establish FC, FCj are defined pursuant to Clause 2 of this Decree.jThe heat input for the power plant according to the financial analysis of the project as specified in Forms 1 and 2 appended to this Circular. Input parameters for constructing FC, FCj 2. Main input parameters utilized in calculating FC

a) Investment Costs: Investment costs are determined based on the total investment amount of the project as per the Project Approval Decision, and the Feasibility Study Report reviewed according to the law on investment through public-private partnership (PPP), including all costs under the responsibility of the electricity seller up to the connection point of the power plant, such as the power plant itself; infrastructure, wharfs for the power plant, costs of electric grid from the power plant to the connection point, related costs, and any allocated project costs (if applicable);

b) Economic Life of the Power Plant: The economic life of the power plant is consistent with the operational period stipulated in the Build-Operate-Transfer (BOT) contract;

c) Contractual Capacity of the Power Plant (kW): Determined by the parties in the electricity purchase and sale agreement, which aligns with the National Electricity Development Plan;

d) Depreciation Period for Each Group of Fixed Assets: Determined based on the depreciation period of each group of fixed assets according to the relevant legal provisions;

e) Interest Rate and Repayment Schedule for Loans during Operation: Determined based on loan agreements or related documents between the investor and lending institutions, banks providing loans, or actual capital mobilization at the time of electricity price negotiations.

f) In case the total loan amount in loan contracts or legal documents between the investor and financial institutions is lower than the calculated loan amount for establishing the electricity price, any shortfall in loan funds may be agreed upon by the seller and buyer of electricity based on provisions stipulated at points e, e1, and e2 of Clause 5, Paragraph 2 of Decree No. 12/2025/TT-BCT issued by the Minister of Industry and Trade;

g) Corporate Income Tax Rate, Other Taxes and Fees: Determined according to relevant legal provisions.

Article 6. Method of Establishing Fixed Annual Operating and Maintenance Prices for Power Plants

The fixed annual operating and maintenance cost (FOMC) price is determined as follows:

FOMC

Fixed operating and maintenance costs per year facility FOMCWherein: The operating and maintenance costs including major repairs and other expenses per year of the power plant, are determined according to Clause 1 of this Decree (dong/kW);

The operating and maintenance costs based on labor costs per year of the power plant, are determined according to Clause 2 of this Decree (dong/kW).1. The operating and maintenance costs including major repairs and other expenses per year of the power plant (dong/kW) is determined by the following formula: = +

Wherein:

Contractual capacity of the power plant as stipulated in Paragraph 2, Article 5 of this Decree (kW);

 

TC

 

k

Total labor costs (dong) at the year of operation are determined as follows:

 

Wherein:

 

k

Article 7. Method of Determining the Price of Fuel Variance at Base Year

The price of fuel variance for thermal power plants at base year PBĐ (USD/kWh) is determined according to the formula below:

PBĐ = + +

Wherein:

1. The component of the fuel variance price adjusted according to the fluctuation of the main fuel cost at the power plant at base year (USD/kWh), as determined by the formula below:

 

Wherein:

2. The component of the fuel variance price adjusted according to the fluctuation of the auxiliary fuel cost at the power plant at base year (USD/kWh), as determined by the formula below:

 

Wherein:

3. The transportation cost of the main fuel for the power plant at base year (USD/kWh) is determined according to the formula below:

 

Wherein:

Article 8. Method of Determining Operating and Maintenance Cost Year-Change Price

Component of the operating and maintenance cost year-change price (VOMC) for a power plant is determined according to the formula below:b (per kWh) of the power plant is determined according to the following formula:

 

Wherein:

 

Wherein:

m: Number of foreign currencies in the generation service pricing scheme agreed upon by the seller and buyer of electricity (type);

n: Number of times principal and interest repayments i of type j are made during the calculation year (times);

D i,j

Actual principal repayment amount of type i at time j in the calculation year;

D i,j

2Actual interest repayment amount of type i at time j in the calculation year;

 

Exchange rate for payment time j of type i during the calculation year (.../dong);

Agreed exchange rate base for type i foreign currency in the generation service pricing scheme by the seller and buyer of electricity (.../dong).

Number of foreign currency principal repayment, foreign currency interest payment times in the year under calculation (times);

: Exchange rate for payment time j of type i foreign currency in the year (.../dong);

: The exchange rate base for type i foreign currency as agreed by the seller and buyer in the electricity service pricing scheme (.../dong).

Article 10. Method of Determining the Price of Power Generation Services at the Time of Payment

1. The price of power generation services at the time of payment for electricity in month t, year j includes the component of capacity price (per kW) and the component of energy price PĐN,j,t (per kWh) as follows:

a) The capacity price for month t, year j is determined according to the formula below:

 

: Fixed price is determined on the basis of provisions in Clause 1 and Clause 2 of this Circular (per kW);

: The variable fuel cost for month t, year j is determined according to Clause 3 of this Article (per kWh).

 

VOMC

: The operating and maintenance cost based on major repair expenses and other expenses in year j is determined according to the method specified in Clause 1 of Article 6 of this Circular (per kW);

 

FOMC

for month t, year j

 

are determined according to the provisions in

this Clause (

per kW

Order number of the payment year from the base year

 

for the base year

l

, i = 0

l:

= + +

Order number of the payment year from the base year (for the base year

l

:       = 1, i

3. The variable fuel cost for thermal power plant in month t, year j () (per kWh) is determined according to the formula below:

Wherein:

 

: The component of variable fuel cost adjusted based on the fluctuation of the main fuel cost of the power plant in month t, year j, as specified in point a of this Clause (per kWh);

Efficiency reduction ratio for year j as agreed upon by the seller and buyer of electricity (%);

 

l

l

Order number of commercial operation years of the plant;

 

The auxiliary fuel cost for power generation at the time of payment in month t, year j is determined by weighted average based on the volume of invoices under fuel supply contracts within a period agreed upon by the seller and buyer of electricity.

4. For thermal power plants using LNG: by weighted average of the service prices for storage, regasification, transportation and distribution of liquefied natural gas for electricity production. The service prices for storage, regasification, transportation and distribution of liquefied natural gas for electricity production are carried out in accordance with relevant laws;

 

For thermal power plants using a combination of multiple types of fuel: as agreed upon by the seller and buyer of electricity based on actual conditions at the power plant;

5. Startup costs for the month t of the thermal power plant

(in Vietnamese dong), determined according to the formula below:

 

Where:

u: Unit order number of the power plant;

s:

u,f,s

u,f,sFuel price per startup for unit u, using fuel f, in startup state s, calculated in Vietnamese dong/kg and Vietnamese dong/BTU;:       : Other costs incurred during each startup, calculated in Vietnamese dong.

Article 11.Payment of electricity charges:       1. After the commercial operation date, the payment of electricity charges (Rtt) for the power plant is specifically calculated as follows:

Rtt = Rt(1 + VAT)

Where: Rt: Electricity charges for month t year j, excluding VAT

(in Vietnamese dong), determined as follows:Rt = PCS,j,t PDC,j,t + PDN,j,t Qm,j,t + Rk + RThWhere:

PCS,j,t: Unit price of power capacity for month t, year j as specified in Article 10 of this Circular (Vietnamese dong/kW);PDC,j,t: Unit price of electricity energy for month t, year j as specified in Article 10 of this Circular (Vietnamese dong/kWh); Qm,j,t: Electricity production at the point of delivery and receipt by the power plant (kWh);PDN,j,t: Reliable capacity of the power plant for year j (kW); if the reliable capacity of the power plant is greater than the contracted capacity, then PDC,j,t shall be taken as the contracted capacity of the power plant;

Rk: Other costs specified in paragraph 2 hereof (Vietnamese dong);

RTh: Total amount of taxes, fees, and other payments due for the month in accordance with relevant laws and regulations agreed upon by the seller and buyer of electricity (accompanying valid documents) (Vietnamese dong);

b) Various adjustment, interest payment, and additional interest costs (if any), as determined by the seller and buyer of electricity;

c) Pre-determined compensation costs during the pre-compensation period, as agreed upon by the seller and buyer of electricity;d) Other costs as agreed upon by the seller and buyer of electricity in accordance with relevant laws. Chapter IVCONDITIONS FOR IMPLEMENTATION

Article 12. Responsibilities of the Electricity AuthorityTo guide and inspect the implementation of the provisions of this Circular. In case necessary, to propose amendments or supplements to the Circular to meet practical needs and ensure consistency with relevant laws and regulations. + PDN,j,t

Qm,j,t + Rk + RTh

Wherein:

2. Components of other costs (Rk) include:

a) Payment costs for turbine testing in accordance with the test schedule (if any), as agreed by the seller and buyer;

b) Adjustment payment, interest penalty, additional interest payment costs (if any), as agreed by the seller and buyer;

c) Pre-determined compensation costs during the pre-compensation period as agreed by the seller and buyer;

d) Other costs as agreed by the seller and buyer in accordance with the law.

Chapter IV

TERMS OF IMPLEMENTATION

Article 12. Responsibilities of the Electricity Authority

To guide and inspect the implementation of the provisions of this Circular. In case necessary, to propose amendments or supplements to the Circular to meet practical needs and ensure consistency with relevant laws.

Article 13. Responsibilities of the Purchaser of Electricity

1. Negotiate an electricity purchase and sale contract with the seller of electricity in accordance with the provisions of this Circular; bear responsibility for ensuring the accuracy, reasonableness, and legality of the data and documents provided.

2. Agree and coordinate with the seller of electricity on the method of annual reliable power capacity testing to be stipulated in the electricity purchase and sale contract.

3. Cooperate with the seller of electricity to calculate and agree on the exchange rate differential in the implementation of the electricity purchase and sale contract in accordance with the provisions of this Circular.

4. In the case where the power generation service price for BOT power plants is priced in foreign currency as provided in paragraph 3 of Article 3 of this Circular, cooperate with the seller of electricity to study and propose principles for adjusting the power generation service price annually based on Article 9 of this Circular for consideration and supplementation of relevant provisions.

Article 14. Responsibilities of the Seller of Electricity

1. Negotiate with the purchaser of electricity regarding the electricity purchase and sale contract; bear responsibility for ensuring the accuracy, reasonableness, and legality of the data and documents provided.

2. Provide sufficient information, bear responsibility for ensuring the accuracy, reasonableness, and legality of the data and documents provided to relevant units and agencies during the negotiation process of the electricity purchase and sale contract.

3. Cooperate with the purchaser of electricity to calculate and agree on the payment plan for exchange rate differential in the implementation of the electricity purchase and sale contract annually as stipulated in this Circular (if applicable).

4. Agree and coordinate with the purchaser of electricity on the method of annual reliable power capacity testing to be stipulated in the electricity purchase and sale contract.

5. In the case where the power generation service price for BOT power plants is priced in foreign currency as provided in paragraph 3 of Article 3 of this Circular, cooperate with the purchaser of electricity to study and propose principles for adjusting the power generation service price annually based on Article 9 of this Circular.

Article 15. Adjustment of Power Generation Service Price

The seller of electricity and the purchaser of electricity shall negotiate again the power generation service price in the electricity purchase and sale contract already signed in accordance with paragraph 4 of Article 52 of the Electricity Law No. 61/2024/QH15.

 

Article 16. Effective Date

1. This Circular shall come into effect from the date 28 month 7 year 2026.

2. In the event of any difficulties or issues arising during implementation, organizations and individuals are responsible for reporting to the Ministry of Industry and Trade for appropriate supplementation and amendment.

 

Appendix I

FINANCIAL ANALYSIS FORMS FOR PROJECTS

(Issued in conjunction with Circular No. /2026/TT-BCT dated 10 June 2026 by the Minister of Industry and Trade) 30Form 1 - Project Financial Performance Budget

Unit: …

STT

Form 2 - Financial Cash Flow Statement and Financial Indicators

 

Unit: …

STT

Note: Revenue from electricity sales does not include operation and maintenance costs, value added tax, water resource tax, fees for exploiting water resources, forest environmental protection fees, industrial wastewater discharge fees (applicable to thermal power plants) and other taxes and fees (if any). Form 02 is prepared starting from the year of construction.