Vietnam Electricity requests renegotiation of renewable energy power prices

The Electricity Trading Company (EPTC), a subsidiary of Vietnam Electricity (EVN), has proposed that renewable energy plant investors renegotiate their power purchase agreements.

This move follows nearly two years of implementing Government Resolution 233/2024, aimed at resolving difficulties for renewable energy projects. While many investors have received acceptance for their project inspections, the process of handling violations and redefining electricity purchase prices remains incomplete.

Inspection conclusions for 172 renewable energy projects specify that plants were not entitled to preferential Feed-in Tariffs (FIT) before receiving official written approval of their inspection results. Previous FIT rates varied by technology and regulation, including solar power rates ranging from 1,644 to 2,086 VND/kWh and wind power rates between 1,614 and 2,223 VND/kWh depending on whether the project was onshore or offshore.