Võ Quang Lâm. — Photo tuoitre.vn Võ Quang Lâm, Vietnam Electricity (EVN) deputy director-general, talks to the newspaper Tuổi Trẻ (Youth) on upcoming changes in setting new electricity tariffs. How many electric tariffs will the Ministry of Industry and Trade introduce? From 2011-2014, the electric tariffs were divided into seven scales. Then, in 2015 the electric tariffs were reduced to six scales with a hope to make them simpler. The scales were then from 0-50 kW; 51-100kW; 101-200 kW; 201-300 kW; 301-400 kW and from 400 kW upward. According to the EVN, a key purpose of cutting down from seven scales down to six scales is to encourage people to save electricity and use it more efficiently. From its point of view, the EVN said the six tariff scales has already taken into consideration poor households. According to statistics, if in 2015, there were 4.5 million households using less than 50 kWh per month, then in 2018 that number dropped to 3.9 … [Read more...] about New electricity tariffs more renewable: EVN
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Vietnam to open electricity wholesale market next year
The competitive electricity wholesale market will be fully operational starting in 2019 following a successful year-long pilot period. An engineer operates an electricity production system at the Dong Nai Hydropower Plant in the Central Highland province of Lam Dong.-VNA/VNS Photo Ngoc Ha Deputy Minister of Industry and Trade Hoang Quoc Vuong spoke about the development of the marketplace at a recent meeting in Hanoi. Vuong said the development of a competitive electricity market is a long-term plan for Vietnam’s electricity sector as mandated in the 2004 Electricity Law. The details of the plan were specified in the Prime Minister’s Decision 63/QD-TTg in 2013, which laid out the conditions and structure of the new market. The marketplace was to be developed in three distinct parts: the electricity generation market, the wholesale market and the retail market. The generation market started in 2012, and the wholesale market is expected to open next year. The final … [Read more...] about Vietnam to open electricity wholesale market next year
Việt Nam to open electricity wholesale market next year
An engineer operates an electricity production system at the Đồng Nai Hydropower Plant in the Central Highland province of Lâm Đồng. — VNA/VNS Photo Ngọc HàViet Nam News HÀ NỘI — The competitive electricity wholesale market will be fully operational starting in 2019 following a successful year-long pilot period. Deputy Minister of Industry and Trade Hoàng Quốc Vượng spoke about the development of the marketplace at a recent meeting in Hà Nội. Vượng said the development of a competitive electricity market is a long-term plan for Việt Nam’s electricity sector as mandated in the 2004 Electricity Law. The details of the plan were specified in the Prime Minister’s Decision 63/QĐ-TTg in 2013, which laid out the conditions and structure of the new market. The marketplace was to be developed in three distinct parts: the electricity generation market, the wholesale … [Read more...] about Việt Nam to open electricity wholesale market next year
Electricity and petroleum monopolies spark lively NA debates
On the morning of June 14, Minister of Industry and Trade, Vu Huy Hoang faced a Q&A session with NA deputies which mainly focused on the monopolies in the electricity and petroleum sectors. Policy makers cautious about ending electricity and petroleum monopolies Hoang confirmed that in terms of the electricity industry, Electricity of Vietnam (EVN) remained the only group responsible for transmitting and distributing electricity. Hoang admitted that if this situation continued, it would obviously affect competition in electricity market, leading to poor development in the field. However, he noted that the Government had laid out a road map to eliminate a monopoly in the electricity market, which included ended all monopolies, not just those based on state industries. A competitive electric market would be officially launched this July. All electricity companies would have the right to make offers to the National Electricity Centre. Until 2014, the electricity wholesale … [Read more...] about Electricity and petroleum monopolies spark lively NA debates
Vietnam companies lag behind in anti-corruption program disclosure
The Hanoitimes - "Transparency is key against corruption, which in turn will have positive impacts on economic growth," economist Le Dang Doanh told Hanoitimes. Vietnamese companies did not perform well in reporting on their anti-corruption programs, while outperforming their foreign counterparts in the disclosure of their organizational structure and ownership, thanks to local existing regulations, according to Towards Transparency (TT). Transparency in Corporate Reporting (TRAC) Vietnam 2018 was released on August 21, evaluating the disclosure practices of the 45 largest companies operating in Vietnam, including 15 foreign direct investment (FDI) companies, 15 publicly listed companies (PLCs) and 15 state-owned enterprises (SOEs). The report presented an assessment of those companies based on three dimensions: (i) Anti-corruption programs; (ii) Organizational structure; and (iii) Financial information on a country-by-country basis. Local companies are lagging behind … [Read more...] about Vietnam companies lag behind in anti-corruption program disclosure