Cases of termination of participation in the competitive wholesale electricity market in Vietnam

Cases of termination of participation in the competitive wholesale electricity market in Vietnam

The cases of termination of participation in the competitive wholesale electricity market in Vietnam are stipulated as follows:

- The power plant terminates its participation in the electricity market in the following cases:

+ At the request of the electricity generation unit owning the power plant in the event that the power plant completely ceases operations or the power plant does not maintain and cannot restore the installed capacity according to the market participation registration information within 1 year;

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

- The electricity wholesale unit no longer continues to purchase electricity at delivery points within the scope of the electricity market or the electricity operating license in the field of wholesale, retail electricity is revoked or expires.

In case the electricity operating license is revoked, the time of termination of participation in the electricity market of the electricity generation unit or the electricity wholesale unit will be counted from the time the electricity operating license is revoked according to the decision of the competent authority. In other cases, at least 30 days before the desired termination date of participation in the electricity market, the market participant is responsible for sending a written request to terminate participation in the electricity market to the Electricity System and Market Operation Unit.

Within 10 days from the date of receiving the notice requesting termination of participation in the electricity market from the market participant, the Electricity System and Market Operation Unit is responsible for reviewing, deciding, and notifying the Electricity Regulatory Authority for supervision of implementation.

The Electricity System and Market Operation Unit is responsible for maintaining records, notifying on the electricity market's electronic information page about the termination of market participation by the market participant unit.

Circular 21/2024/TT-BCT comes into force in Vietnam from November 25, 2024.

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