Guidelines for terminating participation in the competitive electricity market in Vietnam

Guidelines for terminating participation in the competitive electricity market in Vietnam

According to the regulations specified in Circular 16/2025/TT-BCT, the termination of participation in the competitive electricity market is as follows:

- Circumstances for termination of participation in the electricity market

+ A power plant may terminate participation in the electricity market under the following circumstances:

++  As  proposed  by  the  electricity  generating  unit  owning  the  power  plant  in  the  event  that  the  power  plant  completely  ceases  operation  or  the  power  plant  cannot  maintain  and  is  unable  to  restore  the  installed  capacity  as  per  the  registered  information  for  participation  in  the  electricity  market  within  a  duration  of  1  year;

++  The  power  operation  license  in  the  field  of  electricity  generation  for  the  power  plant  is  revoked  or  expires.

+ The wholesale electricity purchasing unit ceases to purchase electricity at delivery points within the scope of the electricity market, or the power operation license in the fields of wholesale and retail electricity is revoked or expires.

- In cases where the power operation license is revoked, the cessation time for participation in the electricity market of the electricity generating unit or the wholesale electricity purchasing unit is calculated from the time the power operation license is revoked per the decision of the competent authority. In other cases, at least 30 days before the intended cessation of participation in the electricity market, the market participant must send a written proposal to terminate participation in the electricity market to the Electricity and Market System Operator.

- Within 10 days from receiving the written notification proposing termination of participation in the electricity market from the market participant, the Electricity and Market System Operator is responsible for reviewing, deciding, and reporting to the State Electricity Regulatory Agency for supervision of the execution.

- The Electricity and Market System Operator is responsible for archiving records and publishing information on the electricity market's electronic portal regarding the termination of participation by the market member.

More details can be found in Circular 16/2025/TT-BCT, effective from February 1, 2025.

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