Illustrative image (Photo: congthuong.vn) Hanoi (VNA)– National Assembly Vice Chairman Nguyen Duc Hai, head of the NA StandingCommittee’s Supervisory Delegation on the enforcement of energy developmentpolicies and laws during the 2016-2021period, attended a seminar on Vietnamese electricity pricing policies andmarket held in Hanoi on July 18.
The event was co-hosted by the NA Standing Committee andthe Vietnam Union of Science and Technology Associations (VUSTA).
In his opening speech, head of the NA’s Committee onScience, Technology and Environment and permanent deputy head of the supervisorydelegation Le Quang Huy said during 2016-2021, the energy sector achievedcommendable results. However, there remained weaknesses and shortcomings in pricing and market capturethat need to be fixed. As a result, the committee decided to conduct specialisedsupervision on this issue.
Participants at the seminar (Photo: VNA) NA Vice Chairman Hai said there remains shortcomings andlimitations in the electricity pricing policy and electricity market. Somebelieved that the power generation structure and electricity pricing adjustmentshave not fully offset the input costs and ensured reasonable profitability. Theformula for calculating and determining the fluctuations of basic inputparameters in electricity pricing is not yet complete.
The restructuring of the energy sector has been slow. The focus is on gradually developing ahealthy competitive energy market, including the electricity market. Some suggested the need to review the subsidy of coal prices forelectricity production, gas prices for fertiliser production, and electricityprices for certain consumer households.
According to him, the current retail electricity pricingmechanism is not aligned with the actual development of the electricity market.Additionally, there is insufficient forecasting and comprehensive calculationof influences from the regional and global energy markets.
He suggested the standing members of the NA’s Committee onScience, Technology, and Environment, together with the VUSTA, experts andscientists, urgently collect feedback at the event to complete the draft reportof the supervisory delegation, with special attention to right andeffective ideas to address obstacles in electricitypricing policy and the Vietnamese electricity market over both short and longterms./.
