TO SUPPLEMENT DIVISION OF ELECTRICITY PRICE IN TWO COMPONENTS: OUTPUT PRICE AND ELECTRICAL ENERGY PRICE
On March 18, 2016, the Prime Minister signed the Decision No. 428/QD-TTg dated March 18, 2016 of the Prime Minister on approving revisions to the national power development plan from 2011 to 2020 with visions extended to 2030, in order to mobilize all domestic and global resources for electricity development to maintain the supply of ample electric power of higher quality at reasonable price for the nation's growth in economy and society; utilize varied resources of primary energy for effective production of electricity; fortify the development and use of renewable energies for electricity generation to gradually enhance the volume of electricity generated by renewable energies to alleviate dependence on coal imports for electricity production, contribute to power security, mitigate climate changes…
To achieve above targets, the Prime Minister requires ministries and relevant agencies to implement preferential finance policies and expand international cooperation to intensify the search, survey and increase of reserves and competency for exploitation of coal, gas and renewable energies, maintain and secure the supply of fuels and energy for electricity production; focus on the construction of coal entrepots in each region to optimize coal import expenses; quicken the search and negotiation for stable and long-term import of coal and LNG for power stations; mobilize more capital by issuing bonds domestically and abroad to gain investments in power works and adopt methods to convert domestic savings to investments in infrastructure. The government, at the initial stage, shall underwrite bond issues for major and urgent power projects; equitize power companies, in which the government's full holding is not essential.
On electricity price, the Prime Minister emphasizes to continue renovating and completing current electricity tariff towards adjustment of electricity price commensurate with the fluctuation of fuel price, exchange rate, electricity production and market prices; gradual cutback of cross subsidy in customer groups, regions; conduct studies on seasonal and area-based pricing; division of electricity price in two components: output price and electrical energy price, which shall first apply to major customers….
