On August 20, 2025, the Politburo issued Resolution No. 70/NQ-TW on ensuring national energy security until 2030, with a vision to 2045. It mentioned the limitations of the electricity market, specifically: "The competitive energy market has not developed synchronously, lacking connectivity between sub-sectors, especially the electricity market, which still has many limitations; the energy price policy is still inadequate, not really suitable for the market mechanism; there is still a situation of cross-subsidization of electricity prices for some customer groups"; at the same time, it proposed a number of key tasks and solutions, including: (i) Developing the electricity market in the direction of increasing competition, transparency, efficiency, and synchronization with ensuring energy security; (ii) Applying market prices to all types of energy, building transparent energy prices decided by the market, without cross-subsidization; (iii) Building and perfecting the electricity trading system, including a transparent, stable, long-term electricity purchase and sale contract mechanism, ensuring the legitimate rights and interests of investors.
Implementing the tasks assigned by the Prime Minister to the Ministry of Industry and Trade in Decision No. 1544/QD-TTg dated December 11, 2024, the Ministry of Industry and Trade is presiding over the drafting of the Prime Minister's Decision stipulating the roadmap, conditions and structure of the electricity sector to develop competitive electricity market levels in Vietnam. On November 27, 2025, the Ministry of Industry and Trade chaired the third meeting of the Drafting Team to develop the Draft Decision with the participation of members of the Drafting Team representing the Ministry of Justice , the Ministry of Finance, Vietnam Electricity, Vietnam National Energy Corporation, Vietnam National Coal and Mineral Industries Group, Power Generation Corporations, Power Corporations and other relevant units. The development of the Draft Decision will be implemented from mid-2025, through many conferences and consultation workshops with industry units and independent experts, ensuring compliance with the Electricity Law, Resolution No. 70-NQ/TW and approved electricity industry development strategies.
At the meeting, the Ministry of Industry and Trade reported on the process of receiving and completing the contents of the Draft Decision, focusing on synchronously supplementing the principles of electricity market operations at each level; updating the requirements and conditions on the electricity industry structure in each stage to ensure the competitive electricity market operates effectively, fairly, transparently, and in accordance with reality; clarifying the requirement to separate the functions of electricity distribution and retail according to the roadmap to avoid monopoly and create the premise for forming a competitive retail electricity market.
Delegates focused on discussing and agreeing on important technical issues such as limiting the market share of power generation units to avoid domination and control of the market; requirements on the structure of the electricity industry, especially service providers such as power transmission units and power distribution units; perfecting the mechanism of power purchase and sale contracts and payments in the competitive wholesale electricity market; transferring the functions and roles of payments in the spot electricity market, requiring the development and approval of competitive electricity market designs at all levels; along with proposals to remove obstacles related to the value added tax mechanism for term electricity contracts, which has been a bottleneck in market operations in recent times.
In his speech, Deputy Minister of Industry and Trade Nguyen Hoang Long acknowledged the active coordination of ministries, branches, energy corporations and relevant units in the process of developing the Draft. The Ministry of Industry and Trade requested the Electricity Authority (Ministry of Industry and Trade) to continue to closely follow the spirit of Resolution No. 70-NQ/TW of the Politburo on developing a competitive energy market and ensuring national energy security, promptly complete the Draft Decision dossier on the basis of consensus opinions at the meeting to send to the Ministry of Justice for appraisal according to the set plan. At the same time, the Ministry also requested relevant units to continue to accompany and closely coordinate in the process of completing and preparing for implementation after the Decision is issued, ensuring the requirements of enhancing competition, attracting socialized investment, transparency of electricity costs and prices, improving the operational efficiency of the electricity sector, serving the goals of socio-economic development and people's lives.
Source: https://moit.gov.vn/tin-tuc/hop-to-soan-thao-quy-dinh-ve-lo-trinh-nguyen-tac-hoat-dong-co-cau-nganh-dien-va-cac-dieu-kien-de-hinh-thanh-va-phat-trie.html
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