Promulgation of the Law on Electricity 2024 in Vietnam from February 1, 2025
Promulgation of the Law on Electricity 2024 in Vietnam from February 1, 2025
Law on Electricity 2024 was passed by the National Assembly of the Socialist Republic of Vietnam, 15th tenure at its 8th session, on November 30, 2024.
The Law on Electricity 2024 provides regulations on the planning of electricity development; investment in the construction of electricity projects; the development of renewable energy and new energy electricity; electricity activity licenses; competitive electricity market and electricity trading activities; dispatch, national electricity system operation; protection of electrical works and safety in the electricity sector; responsibilities, rights, and obligations of agencies, organizations, and individuals in electricity activities and electricity usage; state management of electricity.
The Law on Electricity 2024 is effective from February 01, 2024
Promulgation of the Law on Electricity 2024 in Vietnam from February 1, 2025 (Image from the Internet)
Which are considered urgent electricity projects and works in Vietnam?
Pursuant to Article 14 of the Law on Electricity 2024 regulating urgent electricity projects and works:
Article 14. Urgent electricity projects and works
- Urgent electricity projects and works include:
a) New construction or repair and renovation of electricity projects to promptly overcome the consequences of natural disasters, catastrophes, and epidemics according to construction law and other relevant legal provisions;
b) Projects and constructions for the development of electricity sources and grid connections to compensate for the shortage of electricity sources compared to the capacity planned in the electricity development plan: due to delays in other electricity source construction investment projects causing electricity shortage risks; due to unforeseen regional and national load increases; due to the stoppage of other electricity construction projects;
c) Construction of electricity grid projects that play an important role in transmitting electricity between regions to prevent grid overload; as per urgent requirements to ensure defense, security, or urgent requirements for the socio-economic development of localities;
- The Government of Vietnam shall stipulate principles and criteria to determine urgent electricity projects and works as specified in points b and c of clause 1 of this Article based on ensuring prompt responses to urgent issues concerning electricity supply security.
According to the above regulation, urgent electricity projects and works include:
- New construction or repair and renovation of electricity projects to promptly overcome the consequences of natural disasters, catastrophes, and epidemics according to construction law and other relevant legal provisions
- Projects and constructions for the development of electricity sources and grid connections to compensate for the shortage of electricity sources compared to the capacity planned in the electricity development plan:
+ Due to delays in other electricity source construction investment projects causing electricity shortage risks
+ Due to unforeseen regional and national load increases
+ Due to the stoppage of other electricity construction projects
- Construction of electricity grid projects that play an important role in transmitting electricity between regions to prevent grid overload; according to urgent requirements to ensure defense, security, or urgent requirements for the socio-economic development of localities
What documents are included in a electricity plant project contract invested under the public-private partnership method applying the build-operate-transfer contract type in Vietnam?
Pursuant to Article 16 of the Law on Electricity 2024 providing for documents included in a electricity plant project contract invested under the public-private partnership (PPP) method applying the build-operate-transfer (BOT) contract type, the documents include those required by law about PPP investment and the following documents:
- Electricity purchase agreement: a written agreement between the electricity buyer and the project enterprise electricity seller
- Land lease agreement: a written agreement between the land lessor where the project is located and the project enterprise (if any); sea area allocation decision (if any)
- Domestic fuel supply agreement: a written agreement between the domestic fuel supplier and the project enterprise (if any)
- Shared infrastructure usage agreement: a written agreement between the infrastructure developer and the project enterprise (if any).
