DRAFT CIRCULAR: REGULATIONS ON THE OPERATION OF THE COMPETITIVE WHOLESALE ELECTRICITY MARKET

I. General Regulations

This section sets the scope of the regulation, identifying applicable entities and explaining specific terminologies used within the context of the electricity market. The entities covered include wholesale electricity purchasers, electricity generating units, units operating the electrical system and electricity market, electricity transmission units, and the Vietnam Electricity Group. This foundational section lays out the groundwork for understanding the roles and responsibilities of various stakeholders within the market.

II. Market Participation Registration

It details the responsibilities of electricity generation units and wholesale electricity purchasers regarding their participation in the electricity market. This includes the process for registration, the timing for participation, the requirements for submission of registration documents, the process for reviewing these documents, and information regarding market members. This segment ensures that all participants are duly registered and meet the criteria for engagement in market activities, fostering a transparent and regulated environment.

III. Operational Principles of the Electricity Market

This part elaborates on the operational principles, including transaction days, transaction cycles, trading nodes, price offering limits, and market prices applicable to direct trading generation units. It aims to standardize the functioning of the market by setting clear rules for trading cycles, price setting mechanisms, and the identification of trading nodes, ensuring an efficient and fair market.
 

IV. Market Operation Planning

Focuses on the annual operational planning of the electricity market, including selecting the best new power plants, calculating the market power price, determining the water value and optimal reservoir levels for hydroelectric plants, setting price caps for thermal power plants, and allocating annual contract volumes among direct trading units. This section is crucial for strategic planning, allowing for the anticipation of market needs and ensuring the optimal allocation of resources to meet the demand for electricity.

The document offers an exhaustive overview of the regulatory framework governing Vietnam's electricity market, detailing the mechanisms for market participation, operational principles, and planning.

Source: https://moit.gov.vn/tin-tuc/thong-bao/du-thao-thong-tu-quy-dinh-van-hanh-thi-truong-ban-buon-dien-canh-tranh.html

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