Legal Counselling

Vietnam: Responsibilities of the Electricity Regulatory Authority in calculation of the average retail price of electricity

15:39, 20/05/2014

From May 15, 2014, Circular No. 12/2014/TT-BCT of the Ministry of Finance of Vietnam on the calculation of the average retail price of electricity will take effect.

Trách nhiệm của Cục Điều tiết điện lực trong việc tính giá bán lẻ điện, Thông tư 12/2014/TT-BCT

According to Article 12 of Circular No. 12/2014/TT-BCT of the Ministry of Finance of Vietnam, responsibilities of the Electricity Regulatory Authority in calculation of the average retail price of electricity are as follows:

- Take charge, cooperate with the relevant agencies in assessing the average price, then submit the assessment to The Ministry of Industry and Trade. i.e.

+ Consider approving the plan for adjusting electricity price if the average price needs to rise from 7% to below 10% and is in the prescribed bracket of electricity price after rising.

+ Consider and inform the Prime Minister of the cases that the average price needs to rise 10% and above or is out of prescribed bracket of electricity price after rising (after having assessment of the Ministry of Finance)

- Assist Vietnam Electricity in developing the annual plan for the electricity generation and economic – technological criteria; Assess and then submit the assessment to The Ministry of Industry and Trade for approving such plans and criteria.

- Carry out inspection and supervision within the competence of Vietnam Electricity in adjusting the electricity price and publishing the adjustment.

View more details at Circular No. 12/2014/TT-BCT of the Ministry of Finance of Vietnam, issued on March 31, 2014.

Le Vy

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