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| A power project in operation in Ninh Thuan province. (Photo: VNA) |
The maximum price for hydroelectric power plants is set at 6.78 US cents/kWh, down from the current rate of 6.95 cents/kWh.
For wind power, the maximum price is 6.4 US cents/kWh, also down from the current rate of 6.95 cents/kWh.
This price framework applies to power plants operating commercially from December 31, 2025, to December 31, 2030.
Based on this framework, Vietnam Electricity (EVN) and power generation units will negotiate electricity purchase prices on the principles of mutual benefit and risk sharing, and in accordance with market mechanisms and market prices, ensuring minimal generation costs.
EVN is required to monitor and promptly report to the Ministry of Industry and Trade in case of significant fluctuations in the factors affecting the calculation of electricity import prices from Laos.
According to the Memorandum of Understanding signed between the Governments of Vietnam and Laos on October 5, 2016 and the development goals outlined in the National Power Development 8, the minimum import capacity target by 2030 is around 5,000MW, an increase of 4,000MW compared to the currently operating electricity imports from Laos.
EVN expects electricity imports from Laos will support and supplement the power supply for the increasing load demand in Vietnam.
The imported electricity volume is expected to be around 3,000MW by 2025 and about 5,000MW by 2030. In October 2023, the Prime Minister approved a proposal to import electricity from various sources in Laos with a total capacity of 2,689MW.
EVN has signed 19 power purchase agreements (PPA) to buy electricity from 26 Lao power plants with a total capacity of 2,240MW. Among them, seven projects were commercially operational with a total capacity of 806MW, and an additional 1,171MW could be put into operation by 2025, according to the ministry./.