On March 6, Mr. Nikomdej Blankura, Thai Ambassador to Vietnam, sent a document to the Minister of Industry and Trade expressing his views and proposing how to calculate the price bracket for solar and wind power.
Thai enterprises have 13 transitional wind power investment projects in Vietnam that have completed construction but have not been allowed to operate commercially. Recently, the Ministry of Industry and Trade has issued Decision 21/QD-BCT dated 7.1 on the electricity generation price bracket and Circular 15/2022-TT-BCT dated 3.10.2022 on the method of developing a solar and wind power generation price bracket.
However, these regulations have raised concerns and reservations of the Working Group on Electricity (Thai Chamber of Commerce and Industry in Vietnam), because investment activities of Thai enterprises will be seriously affected.
Accordingly, the Thai Ambassador to Vietnam requested the competent agencies of the Ministry of Industry and Trade to consider suggestions from Thai enterprises.
Firstly, the competent authorities of the Ministry of Industry and Trade should appoint an experienced consultant to select reasonable parameters to be used to calculate the price bracket. Because currently, the ceiling price for solar and transitional wind power production stated in Decision 21/QD-BCT is 19-21% lower than previously granted to investors.
Secondly, it is recommended that the competent authorities consider keeping the conditions in the previously signed power purchase agreement (PPA) on the currency to be used (USD) and the term of 20 years, as these conditions have been agreed by the lender.
Expressing his views to the Minister of Industry and Trade, the Thai Ambassador to Vietnam said that there should be a fair conclusion on how to calculate the price bracket as well as implement the terms of the power purchase contract. This will ensure more investment projects in the alternative and sustainable energy sector, helping Vietnam meet its commitment to net-zero emissions by 0.
Source: Thanh Nien Magazine_Thai Ambassador suggests reviewing price bracket of Wind and Solar Electricity