The National Assembly, under the Resolution No. 129/2024/QH15
dated 8 June 2024, decided that the Law on Electricity (Amended)
will be submitted to the National Assembly's review this
October 2024 on the National Assembly's 8th meeting. Thus,
recently, numerous meetings between the Ministry of Industry and
Trade (MOIT) and relevant stakeholders have been held to finalize
the Law on Electricity (Amended) as the deadline for submission is
approaching. In this regard, the latest draft of the new Law on
Electricity consists of nine (03) chapters with 130 articles
introducing new and amended regulations on Vietnam's
commitments on renewable energy. It is reported that relevant
stakeholders (i.e. Petrovietnam, VBF, EVN) are working diligently
with the MOIT to work out the last details of the Law on
Electricity (Amended). The notable points expected to be included
in the Law on Electricity (Amended) are:
– The State's policy on development of electricity,
including provisions on encouragement for development of renewable
energy;
– Amended provisions on Electricity Operational License with
clearer guidance on exemption, issuance and revocation;
– Specific regulations on ensuring the eletricity price
structure with clear principles and roadmaps for electricity price
reform;
– Mechanism to handle delayed power projects and priority
regulations for investment in emergency power projects;
– Mechanism for planning, exploration, survery, investment,
approval for offshore wind power projects and pilot implementation
of offshore wind power project.
As the 8th meeting of the National Assembly will be held on 21
October 2024, it is expected that the drafting for the Law on
Electricity (Amended) is in its final stage. We will follow up with
the progress and keep you posted on this matter.
Disclaimer: This Alert has been prepared and published for informational purposes only and is not offered, nor should be construed, as legal advice. For more information, please see the firm's full disclaimer.