This should progress to a competitive wholesale market by 2017, then finally a competitive retail market by 2023.Īccording to Thanh, EVN will maintain its 100 percent ownership of the National Power Transmission Corporation, which was established in 2008 based on the reorganization of the state utility's four transmission companies and three power grid management units.Ĭhairman Thanh also said that when the wholesale market becomes fully operational, EVN will stop functioning as the single buyer in the generation market, making power purchases through long-term contracts known as power purchase agreements, or PPAs.įive power corporations set up within EVN in 2010 will take over the power purchases via PPA contracts. Official statistics show that in 2013, foreign investments in generation through the BOT model accounted for 6 percent of total installed capacity.Īt that time, the government laid out a clear road map for power sector reforms that started with limited competition among selected state-owned generators with a single buyer for power in 2009. Vietnam has already partly opened its power market to foreign players, allowing them to invest in power generation. These companies are expected to be independent from EVN when the competitive wholesale market opens. Who held the remaining seven percent is unclear.Ĭhairman Thanh said that EVN is ready to accelerate share sales in Genco 3 this year, while Genco 1 and Genco 2 will be privatized in 20 respectively. Meanwhile, state-owned companies PetroVietnam and Vinacomin held 16 percent, and plants under the Build-Operate-Transfer (BOT) model and private ownership accounted for another 16 percent. These companies are currently fully controlled by EVN.Īccording to the Asian Development Bank, as of 2013, EVN owned 22 percent of total installed capacity and the three Gencos held 39 percent. In 2012, EVN restructured the generation part into the three Gencos. The Vietnamese government in 2007 announced plans to partially sell stakes in most of EVN’s power generation and distribution units. Vietnam’s sole retail power supplier is going to sell shares in three power generation companies, known as Genco 1, 2 and 3, to the public in the next five years, EVN Chairman Duong Quang Thanh said in an interview with the Vietnam News Agency. State utility Vietnam Electricity group (EVN) is quickening its privatization and divestments from non-core businesses as Vietnam moves towards a competitive power sector, including full wholesale and retail competition. EVN to ensure power supplies during dry season.EVN to maintain retail electricity prices.EVN apologizes to clients for widespread power outages. EVN hooks up power deal with China on rising demand.Privatization quickens as investors lay eyes on "golden land".Privatization helps Vietnamese contractors compete with foreign players.Vietnam to retain state control of enterprises in national security and defense.
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