The Electricity Regulatory Authority of Vietnam ( ERAV ) andthe US Bureau of Energy Resources ( ENR ) signed a Memorandum ofUnderstanding (MoU) on providing technical support to develop thecompetitive electricity market in Vietnam on May 7 in Hanoi.
At the event, Head of the ERAV Nguyen Anh Tuan said the MoU willcontribute to boosting the electricity market in Vietnam by ensuringfair competitiveness and transparent prices while raising theeffectiveness of power projects.
He said the current market is plagued with poor infrastructure and unqualified labor force in its first stage.
Thus, the Ministry of Industry and Trade has learnt from othercountries’ experience towards building a competitive market in Vietnam.
According to a senior ENR official, the project aims to focuson improving the activities of the Build-Operate-Transfer (BOT)electricity projects.
The US also continues to share experienceand technologies to help Vietnam run a successfully competitiveelectricity market, said Ambassador Mary Warlick, Principal DeputyAssistant Secretary of ENR.
According to the framework todevelop the electricity market approved by the Ministry of Industry andTrade, a power generation market was formed from 2011 to 2014.
The whole sale market will appear in 2015-2020. Ultimately, the retail electricity market will be ready by 2024.
Since 2010, Vietnam has allowed the private sector to build electricity plants under public-private partnership.-VNA
At the event, Head of the ERAV Nguyen Anh Tuan said the MoU willcontribute to boosting the electricity market in Vietnam by ensuringfair competitiveness and transparent prices while raising theeffectiveness of power projects.
He said the current market is plagued with poor infrastructure and unqualified labor force in its first stage.
Thus, the Ministry of Industry and Trade has learnt from othercountries’ experience towards building a competitive market in Vietnam.
According to a senior ENR official, the project aims to focuson improving the activities of the Build-Operate-Transfer (BOT)electricity projects.
The US also continues to share experienceand technologies to help Vietnam run a successfully competitiveelectricity market, said Ambassador Mary Warlick, Principal DeputyAssistant Secretary of ENR.
According to the framework todevelop the electricity market approved by the Ministry of Industry andTrade, a power generation market was formed from 2011 to 2014.
The whole sale market will appear in 2015-2020. Ultimately, the retail electricity market will be ready by 2024.
Since 2010, Vietnam has allowed the private sector to build electricity plants under public-private partnership.-VNA
