Authorities seek investors' ideas for renewable energy price framework
Authorities seek investors' ideas for renewable energy price framework
There have been numerous complaints regarding the development of the electricity price bracket, however only 59 out of 293 units and projects, or just 20 per cent of renewable energy investors, have contributed ideas or proposals themselves.
Hundreds of investors attended a meeting of the Electricity Regulatory Authority and Vietnam Electricity (EVN) last Friday, where director of the Electricity Regulatory Authority Nguyen Anh Tuan quoted Circular No. 15, dated October 3, 2022, as saying within 15 days of the effective date of the circular, the investors of solar power plants, floating solar power plants, inland wind power, and wind power at sea have to submit their projects to his agency for appraisal.
Tuan said in order to build a price frame, EVN needs to have all the parameters of the feasibility studies and the technical design of the power plant approved by the competent state agency.
Experts from the Ministry of Industry and Trade (MoIT) said although it was related to business operations as well as removing obstacles in the implementation of renewable energy projects, it was difficult to understand why many project investors were not interested in answering the issues.
Most investors asked state management agencies to develop a framework of mechanisms and guidelines to remove problems related to renewable energy prices.
Tuan agency said the Electricity Trading Company (EVNEPTC), authorised by EVN, sent an urgent document to 293 units and projects that have signed contracts with EVN on October 12, asking for their comments about the matter before October 21.
By the deadline, EVNEPTC had only received information from 59 units and projects, adding that some units and projects have submitted details but still lacked some information.
Tuan told local media: “The investors should actively cooperate and provide all necessary information for EVN to summarise and develop a price framework to submit to the Electricity Regulatory Authority for appraisal.”
Within the framework of the meeting, leaders of the Electricity Regulatory Authority and EVN specifically explained to the investors the information and documents that need to be provided in accordance with Circular 15. At the same time, they discussed the order of building and promulgating the electricity generation price framework for renewable power projects.
EVN General Director Tran Dinh Nhan also suggested that when investors cooperate in providing information, EVN will try to process information as quickly as possible to build a price framework for electricity generation and promptly report to the MoIT.
