Procedure for Checking Power Purchase Agreements
Based on Article 19 of Circular 57/2020/TT-BCT regulating the process of inspecting power purchase agreements as follows:
After concluding negotiations of the power purchase agreement, both parties agree and have the responsibility to report to the Electricity Regulatory Authority for inspection of the power purchase agreement along with the dossier stipulated in Article 18 of this Circular.
Within 5 working days from the date of receiving the dossier requesting the inspection of the power purchase agreement, the Electricity Regulatory Authority is responsible for checking the validity of the dossier and issuing a document requesting the Buyer and the Seller to supplement any missing documents as required.
Within 30 working days from the date of receiving a valid dossier requesting the inspection of the power purchase agreement, the Electricity Regulatory Authority is responsible for inspecting and providing comments on the power purchase agreement.
Within 30 working days from the date of receiving comments on the inspection of the power purchase agreement, both parties are responsible for officially signing the power purchase agreement. In case the deadline stipulated in clause 3 of this Article expires and the Electricity Regulatory Authority has not provided comments on the power purchase agreement, both parties are permitted to officially sign the power purchase agreement based on the agreed terms. The Buyer is responsible for sending one (01) copy of the signed power purchase agreement to the Electricity Regulatory Authority for storage and monitoring of the implementation.
In the case where the electricity price stipulated in clause 4 Article 3 of this Circular as proposed by the Seller exceeds the electricity generation price frame issued by the Minister of Industry and Trade, both parties are responsible for reporting, explaining, and proposing a solution for the Electricity Regulatory Authority to consider and report to the Minister of Industry and Trade for resolution.
Sincerely!
