Consolidated Document number 57/VBHN-BCT Decree detailing the implementation of the Electricity Law on electrical safety

MINISTRY OF INDUSTRY AND TRADE -------	SOCIALIST REPUBLIC OF VIET NAM Independence - Freedom - Happiness ---------------
Number: 57/VBHN-BCT	Hanoi, November 26, 2025

 

CIRCULAR

REGULATIONS ON DOCUMENTS, PROCEDURES, AND METHODS FOR DETERMINING AND APPROVING THE FRAMEWORK PRICE FOR ELECTRICITY GENERATION; REGULATIONS ON DOCUMENTS, PROCEDURES FOR CONSTRUCTING AND APPROVING THE FRAMEWORK PRICE FOR IMPORTED ELECTRICITY

Circular No. 09/2025/TT-BCT dated February 1, 2025, issued by the Minister of Industry and Trade, stipulates the documents, procedures, and methods for determining and approving the framework price for electricity generation; stipulates the documents, procedures for constructing and approving the framework price for imported electricity, which took effect from February 1, 2025, has been amended and supplemented by:

1. Circular No. 25/2025/TT-BCT dated April 13, 2025, issued by the Minister of Industry and Trade, amending and supplementing Article 3 of Circular No. 09/2025/TT-BCT dated February 1, 2025, issued by the Minister of Industry and Trade, stipulating the documents, procedures, and methods for determining and approving the framework price for electricity generation; stipulating the documents, procedures for constructing and approving the framework price for imported electricity, which took effect from May 13, 2025.

2. Circular No. 54/2025/TT-BCT dated November 21, 2025, issued by the Minister of Industry and Trade, amending and supplementing some articles of Circular No. 09/2025/TT-BCT dated February 1, 2025, issued by the Minister of Industry and Trade, stipulating the documents, procedures, and methods for determining and approving the framework price for electricity generation; stipulating the documents, procedures for constructing and approving the framework price for imported electricity, and Circular No. 12/2025/TT-BCT dated February 1, 2025, issued by the Minister of Industry and Trade, stipulating the method for determining the electricity service generation price; principles for calculating electricity prices to implement power projects; main contents of the electricity purchase and sale contract, which took effect from November 21, 2025.

Pursuant to the Electricity Law dated November 30, 2024;

Pursuant to 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; Decree No. 105/2024/NĐ-CP dated August 1, 2024, amending and supplementing some articles of Decree No. 96/2022/NĐ-CP and Decree No. 26/2018/NĐ-CP dated February 28, 2018, of the Government on the Charter of Organization and Operation of Vietnam Electricity Corporation;

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

The Minister of Industry and Trade issues this Circular stipulating the documents, procedures, and methods for determining and approving the framework price for electricity generation; stipulating the documents, procedures for constructing and approving the framework price for imported electricity.[1]

PART I

GENERAL PROVISIONS

Article 1. Scope of Regulation and Applicability

Thông tư này quy định chi tiết khoản 4 Điều 38 Luật Thủy sản số 18/2017/QH14 đã được sửa đổi, bổ sung tại điểm c khoản 21 Điều 14 Luật số 146/2025/QH15.

This Circular provides detailed regulations on certain provisions of the Electricity Law No. 61/2024/QH15, including:

a) Clause 5, Article 46, stipulating the documents, procedures, and methods for constructing and approving the framework price for imported electricity, the method for establishing the framework price for imported electricity;

b) Clause 3, Article 51 of the Electricity Law, stipulating the documents, procedures, and methods for determining the framework price for electricity generation; approving the framework price for electricity generation established and submitted by the electricity unit.

c) [2] Point a, Clause 8, Article 51, stipulates the application of the framework price for electricity generation to power plants specified in Clause 2, Article 51, including: small renewable energy power plants that have exceeded the period of applying the avoided cost tariff; power plants that have commenced commercial operation and have exceeded the period of applying the power purchase contract price; power plants that have completed the BOT contract period and handed over to the Government.

2. This Circular applies to the following entities:

a) [3] Organizations, entities, and individuals owning power plants operating within the territory of the Socialist Republic of Vietnam connected to the national power grid, except strategic multi-purpose hydropower plants, small renewable energy power plants applying the avoided cost tariff, power plants and units providing ancillary services, independently invested energy storage systems, and power plants applying the electricity purchase price mechanism as stipulated in the competent authority's documents;

b) Domestic organizations engaged in importing electricity from organizations and individuals within the territory of the Lao People's Democratic Republic (hereinafter referred to as Laos) and the People's Republic of China (hereinafter referred to as China);

c) Vietnam Electricity Corporation;

d) Other related organizations and individuals.

Article 2. Interpretation of Terms

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

1. Calculation parameters are calculation parameters for the framework price for electricity generation collected by the electricity unit when building the framework price based on the feasibility study report for the construction project of the power plant approved, and the basic design reviewed within 48 months immediately before the calculation date for coal-fired and gas-fired thermal power plants, and 24 months immediately before the calculation date for non-coal-fired and non-gas-fired thermal power plants.

2. System Operator and Market Operator is the entity performing the function of the National Power System Dispatching Unit and the Market Operations Unit according to the Electricity Law (currently the National Power System and Electricity Market Operation Joint Stock Company).

3. [4] Pumped Storage Hydropower Plant is a hydropower plant using water storage systems at different elevation levels to store hydro energy and generate electricity, where water is pumped from low-elevation water storage areas to higher-elevation water storage areas during non-generation periods to store hydro energy and released through turbines to generate electricity when the power system requires it.

4. Floating Solar Power Plant is a solar power plant connected to the national power grid, with photovoltaic panels installed on floating structures on water surfaces.

5. Ground-mounted solar power plant is a solar power plant connected to the national power grid, excluding those specified in Clause 4 of this Article.

6. Onshore Wind Power Plant is a wind power plant connected to the national power grid, excluding those specified in Clause 5 of Article 20 of the Electricity Law.

7. [5] Flexible Power Plant is a thermal power plant using reciprocating internal combustion engines (RICE) or aeroderivative gas turbines (Aero-GT) with fast start-up characteristics, designed in modular form to generate electricity for balancing capacity and maintaining power system stability.

Chapter II

METHOD FOR DETERMINING THE FRAMEWORK PRICE FOR ELECTRICITY GENERATION

Article 3. Principles for Establishing the Electricity Generation Price Framework

1. The electricity generation price framework has a range between the minimum price (0 VND/kWh) and the maximum price.

2. The maximum price is the electricity generation price corresponding to each type of power plant (excluding hydroelectric power plants) determined according to the methods prescribed in Articles 4, 5, 6, and 7 of this Circular.

3. For hydroelectric power plants, the maximum price is established based on the annual avoidable cost tariff table according to the method prescribed in Article 8 of this Circular.

4. The electricity generation price framework for solar power plants is established based on the average annual radiation intensity of three regions: Northern, Central, and Southern.

5. In cases where there are no approved feasibility study investment construction projects or reviewed basic design projects for a certain type of power plant, the parameters for calculating the electricity generation price framework according to the methods prescribed in this Circular are determined based on reference to consulting organizations.

6. For renewable energy power plants that use combined electricity storage systems, if the electricity storage system only consumes electricity from these renewable energy power plants during charging cycles, the total investment cost for calculating the electricity generation price framework includes the investment costs of the electricity storage system components.

7. [6] The electricity generation price framework for wind power plants is established based on regions and sea areas according to the results of wind resource surveys as stipulated by law, specifically as follows:

a) The electricity generation price framework for onshore wind power and near-shore wind power is established based on three regions: Northern, Central, and Southern.

b) The determination of areas for establishing the electricity generation price framework for offshore wind power is based on:

b1) National Marine Space Planning;

b2) National Power Development Plan.

From 2025 to 2035, the electricity generation price framework for offshore wind power plants is established based on three marine areas: Northern Region, South Central Region, and Southern Region.

8. [7] The determination of regions for establishing the electricity generation price framework for solar power plants and onshore wind power plants, near-shore wind power plants is based on:

a) Economic-Social Zones in the National Master Plan;

b) National Power Development Plan;

c) Decisions of competent authorities regarding the reorganization, merger, and consolidation of provincial administrative units.

Article 4. Method for Determining the Electricity Generation Price

Electricity generation price "5. The pre-tax weighted average cost of capital i (%) is determined according to the formula below:_C (VND/kWh) is determined according to the following formula:

"5. The pre-tax weighted average cost of capital i (%) is determined according to the formula below:_of = FC + FOMC + VC

Where:

FC:	The average fixed price FC (VND/kWh) is determined according to the provisions of Article 5 of this Circular.
FOMC:	The annual fixed operation and maintenance price is determined according to the provisions of Article 7 of this Circular (VND/kWh).
VC:	The variable price is determined according to the method prescribed in Article 6 of this Circular (VND/kWh).

Article 5. Method for Determining the Average Fixed Price

1. The average fixed price FC (VND/kWh) is a component for recovering investment costs and is determined according to the following formula:

Where:

TC:	Investment capital cost (excluding VAT) converted evenly annually is determined according to the provisions of Clause 2 of this Article (VND);
Ebq :	The average annual electricity delivery and receipt volume is determined according to the provisions of Clause 6 of this Article (kWh).

2.[8] The investment capital cost converted evenly annually TC is calculated according to the following formula:

Where:

SĐT:	The calculated investment rate is determined according to the provisions of Clause 4 of this Article (VND/kW or VND/kWp); kWp is the unit measuring the peak power output of solar photovoltaic panels under standard conditions;
"5. The pre-tax weighted average cost of capital i (%) is determined according to the formula below:organize credit institutions, foreign bank branches are responsible for organizing the implementation of this Circular.:	Calculated capacity (kW or kWp) is specified in Clause 3 of this Article;
d	The economic life of the power plant is specified in the Appendix issued together with this Circular (years). For offshore wind power plants, n is 25 years. For flexible power plants, n is 25 years or determined based on the feasibility study investment construction project report approved by the competent authority. For power plants invested in Build-Operate-Transfer (BOT) form, n is determined according to the operating period of the power plant stipulated in the BOT contract.
× (n − n	The financial discount rate of the power plant is determined according to the provisions of Clause 5 of this Article (%).

3. Calculated capacity is the capacity of the power plant selected from the set of calculation parameters based on implementing the National Power Development Plan. The calculated capacity is converted to the point of electricity delivery and receipt with the electricity buyer through the self-use ratio and the transformer step-up loss of the power plant, transmission line loss (if any).

4. The calculated investment rate is the investment cost for 1 kW (or 1 kWp) of the power plant's capacity, including the total investment amount (only including production-related items) effective at the time of calculating the electricity generation price framework, updated foreign currency exchange rates at the time of calculation, determined according to one of the following bases:

a) The investment rate of the power plant with the calculated capacity selected in Clause 3 of this Article;

b) The average investment rate of power plants of the same technology type based on the set of calculation parameters.

If the calculated investment rate cannot be determined according to the options prescribed in points a and b of this clause, the calculated investment rate is selected based on actual data from electricity purchase and sale contract negotiations; or by referring to data from consulting organizations.

5.[9] The financial discount rate i (%) applied to the weighted average cost of capital before tax is determined according to the following formula:

Where:

D:	The proportion of borrowed capital in the total investment is specified in the Appendix of this Circular (%);
E:	7. Amend and supplement Point a Clause 5 Article 5 as follows: For coal-fired thermal power plants where the enterprise holds 100% of the charter capital and uses 100% of its own capital to invest in the project approved by the competent authority, E is determined as 100%;
d	The economic life of the power plant specified in Clause 2 of this Article (years);
nD:	The average loan repayment period is 10 years;
FFor coal-fired thermal power plants where the enterprise holds 100% of the registered capital and uses 100% of its own capital to invest in the project approved by the competent authority, E is determined as 100%;:	× r
FAverage loan repayment period is 10 years;:	The proportion of domestic currency borrowed capital in the total borrowed capital as specified in the Appendix attached to this Circular (%);

a) [10] The interest rate on borrowed capital rFor coal-fired thermal power plants where the enterprise holds 100% of the registered capital and uses 100% of its own capital to invest in the project approved by the competent authority, E is determined as 100%; (%) is calculated as the weighted average interest rate of domestic and foreign currency loans, determined according to the following formula:

F_{For coal-fired thermal power plants where the enterprise holds 100% of the registered capital and uses 100% of its own capital to invest in the project approved by the competent authority, E is determined as 100%;} Proportion of domestic currency (Vietnamese Dong) loan capital in total loan capital as specified in the Appendix attached to this Circular (%);_F × r_d,F + D_D × r_d,D

Where:

DF:	The proportion of foreign currency borrowed capital in the total borrowed capital is specified in the Appendix issued together with this Circular (%). For power plants invested under the BOT model, DF shall be determined based on the total investment amount and the capital structure of the project as decided by the competent state agency;
DD:	The ratio of domestic currency (Vietnamese Dong) loan capital in the total loan capital is specified in the Appendix issued together with this Circular (%); For coal-fired thermal power plants using 100% domestic currency (Vietnamese Dong) loans, DD shall be determined at 100%;
Fd,F:	The interest rate for foreign currency loans shall be determined by adding the average annual fee arrangement rate of banks at 3%/year to the average SOFR (Secured Overnight Financing Rate) for a term of 180 days (180 Days - Average) over the most recent 36 months ending on the first day of March, June, September, or December of the negotiation year, as published by the Fed (Website: www.newyorkfed.org);
Fd,D:	The interest rate for domestic currency loans shall be determined by adding the average annual service fee of banks at 3%/year to the average interest rate of 12-month post-term personal customer Vietnamese Dong deposits on the first day of the 60 months preceding the construction pricing framework year, calculated from the first day of March, June, September, or December of the most recent year, of four commercial banks (Vietnam Joint Stock Commercial Bank for Foreign Trade, Vietnam Joint Stock Commercial Bank for Industry and Trade, Vietnam Joint Stock Commercial Bank for Investment and Development, and Vietnam Agricultural and Rural Development Bank or their legitimate successors);

b) The pre-tax profit margin on the equity contribution rAverage loan repayment period is 10 years; re,pt: Post-tax return on equity is 12%;

Where:

Fe,pt:	5. Average annual power generation and delivery
t:	: The corporate income tax rate averaged throughout the economic life of the power plant, as stipulated by current state regulations (%), ensuring that the project benefits from corporate income tax incentives (if applicable);

6. Annual average electricity delivery E_bq (kWh) shall be determined as follows:

a) For thermal power plants, E_bq are determined according to the following formula:

Where:

"5. The pre-tax weighted average cost of capital i (%) is determined according to the formula below:_{organize credit institutions, foreign bank branches are responsible for organizing the implementation of this Circular.}: Calculated capacity as prescribed in Clause 3 of this Article;

d.1. Amount of taxable income in Vietnam:_max: Number of hours operating at maximum capacity as prescribed in the Appendix issued together with this Circular (hours);

signing and implementing Agreements_cs: Average capacity reduction factor throughout the entire economic life of the power plant as prescribed in the Appendix issued together with this Circular (%).

For power plants not specified T_max in the Appendix issued together with this Circular, T_max shall be determined based on the calculation parameters, referencing data from consulting organizations (if necessary);

For power plants not specified K_cs in the Appendix issued together with this Circular, K_cs shall be taken as 0 (zero);

b) For solar power plants, E_bq are determined according to the following formula:

Where:

A: Total area installed with photovoltaic panels (m²) corresponding to the calculated capacity;

H: Average annual radiation intensity corresponding to three regions: North, Central, and South (kWh/m²/year);

r: Photovoltaic panel conversion efficiency (%);

PR: Power plant efficiency (%).

Parameters A, r, PR shall be determined based on one of the following bases: Calculation parameters for solar power plants; referencing data from consulting organizations or actual operational data from existing solar power plants.

Parameter H corresponding to the Northern, Central, and Southern regions shall be determined based on information about basic resource surveys for renewable energy power sources published and shared by the competent authority according to the law. In the absence of such information, parameter H corresponding to the Northern, Central, and Southern regions shall be determined by referencing data from consulting organizations or the average annual radiation intensity of operational solar power plants.

c) For wind power plants, E_bq shall be determined as the multi-year average expected delivered electricity at 50%, based on the calculation parameters or the following formula:

Where:

"5. The pre-tax weighted average cost of capital i (%) is determined according to the formula below:organize credit institutions, foreign bank branches are responsible for organizing the implementation of this Circular.:	Calculated capacity as prescribed in Clause 3 of this Article (kW);
kCF :	Capacity factor (%) corresponding to the multi-year average expected production at 50%;

Parameters k_CF shall be determined based on one of the following bases: Calculation parameters; referencing data from consulting organizations or actual operational data from power plants.

d) For pumped storage hydropower plants, E_bq shall be designed based on system electricity demand and the amount of water pumped into the reservoir as stated in the feasibility study report for investment projects approved by the projects. If it cannot be determined, E_bq shall be selected based on data from similar pumped storage hydropower plants where E_bq.

Article 6. Method for Determining Variable Cost Price

1. The variable cost price (VC) is a component to recover fuel costs and other variable costs of power plants, determined according to the following formula:

Where:

VC :	Variable cost price of the power plant (VND/kWh);
HR :	Specific fuel consumption rate calculated at 85% load level and based on the specific fuel consumption rate of the corresponding type of power plant in the Calculation Parameters Manual or references from consulting organizations (kg/kWh or kJ/kWh or kcal/kWh or BTU/kWh);
"5. The pre-tax weighted average cost of capital i (%) is determined according to the formula below:nlc :	Main fuel price of the power plant (VND/kcal or VND/kJ or VND/BTU or VND/kg);
f:	Percentage ratio of start-up costs, auxiliary fuel-material costs, and other variable costs for power generation compared to the main fuel cost, as stipulated in the Appendix issued together with this Circular (%).

For types of power plants not specified in the Appendix issued together with this Circular, f shall be taken as 0 (zero).

2. Main fuel price (P_nlc) determined as follows:

a) For coal-fired thermal power plants and biomass power plants, P_nlc includes losses, operating fees, management fees, insurance (if applicable), and transportation charges;

b) For combined cycle gas turbine power plants using natural gas, P_nlc is the gas price at the wellhead including transportation costs to the power plant (if applicable);

c) For combined cycle gas turbine power plants using LNG, the main fuel price includes the import price of LNG, import tax on LNG (if applicable), transportation costs of LNG to the regasification port warehouse, and storage, regasification, and distribution costs of gas after regasification;

d) For waste-to-energy power plants (electricity produced from waste), P_nlc takes into account subsidies from waste collection, transportation, and treatment costs according to environmental protection laws (if applicable).

3. For hydropower plants (excluding pumped-storage hydropower plants), solar power plants, and wind power plants: the variable cost price is taken as 0 (zero).

4. For pumped-storage hydropower plants, the variable cost price is a component to recover water storage costs, determined based on the electricity consumption during the water storage cycle, the off-peak retail electricity price applicable to production sectors as prescribed, and the cost of purchasing reactive power capacity.

In which, the electricity consumption during the water storage cycle is determined based on the feasibility study report approved for projects. If it cannot be determined, the electricity consumption during the water storage cycle is selected based on data from similar pumped-storage hydropower plants, determining this level of production.

Article 7. Method for Determining Fixed Operation and Maintenance Cost Price

1. The fixed operation and maintenance cost price FOMC (VND/kWh) is a component to recover major repair costs, labor costs, and other annual costs, determined according to the following formula:

Where:

Economic life of the power plant as specified in the Appendix attached to this Circular (years).FOMC :	Total fixed operation and maintenance costs of the power plant are determined according to Clause 2 of this Article (VND);
Ebq :	Average multi-year power generation and delivery volume of the power plant is determined according to Clause 6 of Article 5 of this Circular (kWh).

2. Total fixed operation and maintenance costs Economic life of the power plant as specified in the Appendix attached to this Circular (years).FOMC (VND) of the power plant are determined according to the following formula:

Where:

SĐT:	Investment cost of the power plant is determined according to Clause 4 of Article 5 of this Circular (VND/kW);
"5. The pre-tax weighted average cost of capital i (%) is determined according to the formula below:organize credit institutions, foreign bank branches are responsible for organizing the implementation of this Circular.:	Calculated capacity is defined in Clause 3 of Article 5 of this Circular;
kO&M:	Ratio of fixed operation and maintenance costs in investment cost is stipulated in the Appendix of this Circular (%).

For types of power plants not specified kO&M in the Appendix issued together with this Circular, kO&M is determined based on references from consulting organizations' data or actual operational data from similar projects that have been implemented.

Article 8. Method for determining the maximum price level of the power generation pricing framework for hydropower plants

The maximum price level of hydropower plant P^TĐ (VND/kWh) is determined according to the following formula:

Where:

ACTbq,j:	The average avoided cost tariff of the Northern, Central, and Southern regions as stipulated annually by the Ministry of Industry and Trade;
organize credit institutions, foreign bank branches are responsible for organizing the implementation of this Circular.9. Travel distance is the distance traveled without using mechanical means (cars, motorcycles, motorboats) to reach locations for implementing technical forest management measures and patrolling to protect forests.:	The ratio of electricity production by season and hour throughout the year as specified in the Appendix attached to this Circular (%).

Article 8a. Method for determining the power generation pricing framework applicable to other types of power plants

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1. Other power plants refer to power plants falling under any of the following cases:

a) Coal-fired thermal power plants with capacity from 200 MW or less;

b) Coal-fired thermal power plants where the enterprise is wholly owned by the State, using 100% of its own capital to invest in the project approved by the competent authority;

c) Coal-fired thermal power plants funded entirely by domestic loans to invest in the project;

d) Small renewable energy power plants that have exceeded the period of application of the avoided cost tariff; power plants that have commenced commercial operation and have exceeded the period of application of the power purchase contract price; power plants that have completed their BOT contract term and transferred to the Government.

2. The power generation pricing framework applicable to other types of power plants as stipulated in points a, b, and c of Clause 1 of this Article shall be regulated as follows:

a) The maximum price level of the power generation pricing framework is determined based on the principle of establishing the power generation pricing framework as prescribed in Clause 1 and Clause 2 of Article 3 of this Circular;

b) Input parameters for calculating the maximum price level of the power generation pricing framework are determined based on the feasibility study report of the project approved or the basic design of the project reviewed by the competent state agency, or actual data from negotiating power purchase contracts (if available).

3. The power generation pricing framework applicable to other types of power plants as stipulated in point d of Clause 1 of this Article shall be regulated as follows:

a) The maximum price level of the power generation pricing framework is determined based on the principle of establishing the power generation pricing framework as prescribed in Clause 1 and Clause 2 of Article 3 of this Circular;

b) Economic life to calculate the maximum price level suitable for the remaining economic life of the power plant;

c) Investment cost to calculate the maximum price level is determined based on the investment cost of the power plant according to the residual value of the asset at the time when the power service price ceases to be effective or the power purchase contract expires, plus any approved renovation and upgrade costs by the competent authority or agreed upon with the power buyer. For power plants that have completed their BOT contract term, the investment cost to calculate the maximum price level is determined based on the residual value of the asset approved by the competent state agency;

d) Other input parameters for calculating the maximum price level of the power generation pricing framework are determined based on actual data of the power plant agreed upon by the power seller and the power buyer.

Chapter III

METHOD FOR DETERMINING THE IMPORT POWER PRICING FRAMEWORK FROM LAO AND CHINA

Article 9. Method for determining the import power pricing framework

The import power pricing framework is the maximum price level (price ceiling) converted according to the foreign exchange rate at the time of establishing the pricing framework, applied to each specific country and determined as follows:

1. In cases where there is a provision in an international treaty to which Vietnam is a party (Agreement between two Governments), the maximum price level of the import power pricing framework shall be determined according to the provisions of such Agreement.

2. For importing electricity from power plants, the maximum price level is equal to the average of the average avoided cost tariffs of the Northern, Central, and Southern regions based on the calculation results of the avoided cost tariff table calculated by the system operator and the national electricity market, submitted to the competent state management agency for electricity at the Ministry of Industry and Trade according to the method and principles for applying the avoided cost tariff for small renewable energy power plants issued by the Minister of Industry and Trade.

3. For importing electricity through the national grid (not purchasing electricity from power plants), the maximum price level is the marginal cost according to the average electricity volume for the base scenario in the most recent National Power Development Plan approved by the National Power Development Plan Review Council.

Chapter IV

DOCUMENTS, PROCEDURES, APPROVAL OF THE POWER GENERATION PRICING FRAMEWORK AND THE IMPORT POWER PRICING FRAMEWORK

Article 10. Documents, procedures, and approval process for the electricity generation price framework

1. Within fifteen days from the date of approval of the feasibility study report on investment construction of the power plant and the review of the basic design, the investors of these power plants shall be responsible for providing the feasibility study report on investment construction and the basic design to Vietnam Electricity Corporation.

2. Before November 1st each year, Vietnam Electricity Corporation shall be responsible for:

a) Proposing a set of calculation parameters and selecting calculation parameters for the electricity generation price framework for various types of power plants;

b) Calculating or hiring consultants to select the set of calculation parameters and calculate the maximum price of the electricity generation price framework for various types of power plants as stipulated in Chapter II of this Circular.

c) Preparing the calculation documents for the electricity generation price framework according to Article 12 of this Circular and submitting them to the competent state management agency for electricity for review.

3. Within five working days from the date of receipt of the calculation documents for the electricity generation price framework as stipulated in Clause 2 of this Article, the competent state management agency for electricity shall be responsible for checking the completeness and validity of the submitted documents. If necessary, the competent state management agency for electricity at the Ministry of Industry and Trade may issue a written request to Vietnam Electricity Corporation to amend, supplement, or provide explanations regarding the contents in the documents. Vietnam Electricity Corporation shall be responsible for sending a written report explaining the contents in the documents according to the requirements within the latest fifteen days from the date of receipt of the amendment, supplementation, or clarification requests from the competent state management agency for electricity at the Ministry of Industry and Trade.

4. Within twenty-five days from the date of receipt of the valid application documents for approval of the electricity generation price framework, the competent state management agency for electricity at the Ministry of Industry and Trade shall be responsible for reviewing the electricity generation price framework and submitting it to the Minister of Industry and Trade for approval. In case the electricity generation price framework for the following year has not been announced, the previous year's framework may be temporarily applied.

Article 11. Establishment, Review, and Approval of the Electricity Import Price Framework

1. The system operator and national electricity market operator shall be responsible for preparing the annual avoided cost tariff table and submitting it to the competent state management agency for electricity at the Ministry of Industry and Trade for review according to the method and principles for determining and applying the avoided cost tariff for small renewable energy power plants issued by the Minister of Industry and Trade.

2. Within twenty-five days from the date of receipt of the avoided cost tariff table submitted by the system operator and national electricity market operator, the competent state management agency for electricity at the Ministry of Industry and Trade shall be responsible for organizing the review and submitting it to the Minister of Industry and Trade for approval of the electricity import price framework as stipulated in Clause 2 of Article 9 of this Circular. In case the electricity import price framework for the following year has not been announced, the previous year's framework may be temporarily applied.

Article 12. Application Documents for Approval of the Electricity Generation Price Framework

1. The application documents for approval include:

a) A proposal requesting review and approval of the electricity generation price framework;

b)[12] Tables of parameters and calculation documents for the electricity generation price framework as stipulated in Articles 4, 5, 6, 7, 8, and 8a of this Circular;

c) Relevant documents related to the calculation parameters for the maximum price of the electricity generation price framework.

2. The documents shall be prepared in paper form or electronic message format with equivalent legal value as prescribed by law. Vietnam Electricity Corporation shall be responsible for directly submitting one set of documents in electronic message format and one set in paper form (if necessary) to the competent state management agency for electricity at the Ministry of Industry and Trade.

Chapter V

IMPLEMENTING PROVISIONS

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Article 13. Implementation Organization

1. The competent state management agency for electricity at the Ministry of Industry and Trade shall be responsible for:

a) Reviewing and submitting to the Minister of Industry and Trade for approval of the electricity generation price framework;

b) Reviewing and submitting to the Minister of Industry and Trade for approval of the electricity import price framework.

2. Vietnam Electricity Corporation shall be responsible for preparing the annual calculation documents for the electricity generation price framework according to Articles 10 and 12 of this Circular.

3. The system operator and national electricity market operator shall be responsible for preparing the annual avoided cost tariff table according to Article 11 of this Circular.

Article 14. Transitional Provisions

For organizations and individuals participating in the implementation of investments in solar power plants or wind power plants that have signed power purchase agreements with Vietnam Electricity Corporation but do not meet the conditions for applying the electricity purchase prices stipulated in the Prime Minister's decisions before the effective date of this Circular, the maximum price of the electricity generation price framework for each type is defined as follows:

Serial number	Type	Maximum price of the electricity generation price framework (VND/kWh)
1	Ground-mounted solar power plant	1.184,90
2	Floating solar power plant	1.508,27
3	Onshore wind power plant	1.587,12
4	Onshore wind power plant	1.815,95

Article 15. Effective Date

1. This Circular takes effect from February 1, 2025.

2. Abolish the following Circulars:

a) Circular No. 57/2014/TT-BCT dated December 19, 2014, issued by the Minister of Industry and Trade, stipulating the method, procedure for building and promulgating the electricity generation price framework;

b) Circular No. 31/2022/TT-BCT dated November 8, 2022, issued by the Minister of Industry and Trade, amending and supplementing some articles of Circular No. 57/2014/TT-BCT dated December 19, 2014, stipulating the method, procedure for building and promulgating the electricity generation price framework, and Circular No. 57/2020/TT-BCT dated December 31, 2020, issued by the Minister of Industry and Trade, stipulating the method for determining the electricity generation price and power purchase contracts;

c) Circular No. 19/2023/TT-BCT dated November 1, 2023, issued by the Minister of Industry and Trade, stipulating the method for building the electricity generation price framework applicable to solar power plants and wind power plants;

d) Circular No. 20/2024/TT-BCT dated October 10, 2024, issued by the Minister of Industry and Trade, stipulating the method for establishing the electricity generation price framework for solid waste power plants and biomass power plants;

đ) Circular No. 15/2022/TT-BCT dated October 3, 2022, issued by the Minister of Industry and Trade, stipulating the method for building the electricity generation price framework for transitional solar power plants and wind power plants.

3. During the implementation process, if any issues arise, organizations and individuals shall be responsible for reflecting them to the Ministry of Industry and Trade for consideration and appropriate amendments or supplements.

 

Place of Receipt: - OFFICE OF THE GOVERNMENT (FOR PUBLICATION IN THE GAZETTE); - Minister (for signature); - Ministry of Industry and Trade website; - Ministry of Justice; - Legal Affairs Department (for publication on the National Database for Management of Official Documents) - To be filed: VT, DL (02b).

CERTIFIED CONSOLIDATED DOCUMENT DEPUTY MINISTER DEPUTY MINISTER Nguyen Hoang Long

 

ANNEX

FACTORS USED IN CALCULATING THE GENERATION PRICE FRAMEWORK

(Pursuant to Circular No. 09/2025/TT-BCT dated February 1, 2025 issued by the Minister of Industry and Trade)

I. Factors Used in Calculating Generation Prices

No.	Item	Parameter
I	Economic Life
1	Coal-fired thermal power plant	30 years
2	Combined Cycle Gas Turbine Power Plant	Twenty-five years
3	Hydro Power Plant	40 years
4	Pumped Storage Hydro Power Plant	40 years
5	Solar power plant	20 years
6	Wind power plant	20 years
7	Waste-to-Energy Power Plant (Electricity Produced from Waste)	20 years
8	Biomass power plant	20 years
II	Average number of hours of maximum capacity operation over many years - Tmax (hours)
1	Coal-fired thermal power plant	6.500
2	Combined Cycle Gas Turbine Power Plant	6.000
III	Proportion of Capital Sources in Total Investment Capital
1	Loan Capital Ratio	70%
2	Shareholder Contribution Capital Ratio	30%
IV	Proportion of Borrowed Capital in Total Borrowed Investment Capital
1	Foreign Currency Loan Capital Ratio	80%
2	Domestic Currency Loan Capital Ratio	20%
V	Fixed Operating and Maintenance Cost Ratio in Investment Cost (%)
1	Coal-fired thermal power plant	3,2%
2	Combined Cycle Gas Turbine Power Plant	5,0%
VI	Factor f (%)
1	Coal-fired thermal power plant	5%
2	Combined Cycle Gas Turbine Power Plant	3,2%
VII	3. The price of sewage treatment paid by households (excluding domestic wastewater) to the wastewater service provider is determined by multiplying the formula (2) by factor K.cs (%)
1	Combined Cycle Gas Turbine Power Plant	1,75%

 

II. Factors Used in Calculating the Ceiling Price Level of the Generation Price Framework for Hydro Power Plants

The proportion of electricity production during peak, off-peak, and shoulder periods in a year (%) is defined as follows:

	Dry season			Rainy season
	High , Đ	Portable gas fire extinguisher with a capacity of no less than 3kg or portable water-based fire extinguisher with a capacity of no less than 6 liters usually	Low , Đ	High , Đ	Portable gas fire extinguisher with a capacity of no less than 3kg or portable water-based fire extinguisher with a capacity of no less than 6 liters usually	Low , Đ
Proportion of Electricity Production (%)	20%	23%	7%	10%	29%	11%

Number of hours for peak, normal, and low periods as prescribed by the Ministry of Industry and Trade.

 

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