Approving the plan for the electricity market operation in 2022

Source

The Electricity Regulatory Authority (Ministry of Industry and Trade) has just issued Decision No. 98/QD-DTDL dated December 31, 2021 on approving the plan for the electricity market operation in 2022.

Illustrative image. Source: Vietnamplus

According to the Decision, the ceiling electricity price (SMP cap) applied in the electricity market in 2022 is 1,602.3 VND/kWh (this price accounted for the best new power plant in 2022). The capacity price (CAN) for each transaction cycle applied in the electricity market in 2022 should be specially regulated in a document attached with this Decision.

According to the electricity rate (alpha rate) liquidated by the agreement prices in 2022, in the case that two sides agreed in PPA then the rate level stipulated in the Agreement would be applied. In the case that sides did not agree then the alpha rate applied as 80% for thermal power plant and 90% for hydropower plant until the sides achieve an unification

The National Power System Dispatch Center is responsible to promulgate the contents on plan operating Electricity Market in 2022 on the Electricity Market electronic information website, at the same time to calculate annual, month electricity output for the power plants directly participating in the Electricity Market and promulgate to the electricity generating and purchasing units in accordance with the article 4, clause 1 of Circular No 24/2019/TT-BCT (individual promulgation for each power plant).

In the case that electricity generation and purchase units cannot agree on electricity output rate liquidated by agreement prices, the units must continuously negotiate until unification and report the National Electricity Dispatch Center for calculating, proposing the output rate and reporting it to the Electricity Regulatory Authority before June 15, 2022.