Chapter IV
ELECTRICITY MARKETS
Section 1. PRINCIPLES, SUBJECTS, FORMS AND CONTENTS OF OPERATION OF THE ELECTRICITY MARKETS
Article 17.- Operation principles
1. To ensure publicity, equality, fair competition, non-discrimination among subjects participating in the electricity markets.
2. To respect the rights to opt for partners and transaction forms of subjects purchasing and selling electricity on the markets suitable to the development grades of electricity markets.
3. The state shall regulate the operation of the electricity markets in order to ensure the sustainable development of the electric systems, meeting the requirements of safe, stable and efficient supply of electricity.
Article 18.- Electricity market formation and development
1. The electricity markets are formed and develop according to the following grades:
a) The competitive electricity generation market;
b) The competitive electricity wholesaling market;
c) The competitive electricity retailing market.
2. The Prime Minister shall provide the roadmap and conditions for formation and development of electricity markets of different grades.
Article 19.- Subjects participating in the electricity markets
1. Electricity-generating units.
2. Electricity-transmitting units.
3. Electricity-distributing units.
4. Electricity-wholesaling units.
5. Electricity-retailing units.
6. The national electric system-regulating units.
7. Electricity market transaction- administering units.
8. Electricity-using customers.
Article 20.- Electricity purchase and sale on electricity markets
1. Subjects purchasing and selling electricity on the electricity markets include:
a) Electricity-generating units;
b) Electricity-wholesaling units;
c) Electricity-retailing units;
d) Electricity-using customers.
2. The electricity trading on the electricity markets shall be effected in two following forms:
a) Trading through termed contracts between the electricity sellers and the electricity buyers;
b) Spot dealing between the electricity sellers and the electricity buyers via electricity market transaction-administering units.
3. The electricity market transaction-administering units shall have to regulate, coordinate activities of electricity trading transactions and support services on the electricity markets.
Article 21.- Operation of, administration of transactions on, the electricity markets
1. Major regulations on transaction activities on the electricity markets include:
a) Rights and obligations of subjects participating in the electricity markets being compatible with the development grades of the electricity markets;
b) The technical properties of electricity-generating, -transmitting or-distributing equipment;
c) Regulating the national electric system on the electricity markets;
d) Incident-handling process;
dd) Spot electricity dealings on the electricity markets;
e) Price offer and market price determination;
g) Making invoices and payments between electricity-trading subjects defined in Clause 1, Article 20 of this Law and the support service-providing units;
h) Support service provision and support service charges;
i) Handling violations and settling disputes over complaints about electricity-trading activities and support services on the electricity markets;
k) Supplying, publicizing information related to operation of, administration of transactions on, the electricity markets.
2. Major contents of administering transactions on the electricity markets include:
a) Controlling transaction activities of the subjects participating in the electricity market so as to ensure that the markets operate strictly according to the regulations on administering market transactions, the mutual agreements among the parties and other law provisions;
b) Publicizing the electricity prices for spot dealings and charges of assorted services prescribed in Clause 1 of this Article;
c) Providing transaction services and making payment invoices for the portion of electric energy and output traded in form of spot dealing and support services;
d) Receiving and handling proposals related to electricity trading transaction activities in the electricity markets in order to ensure the stability and efficiency and prevent acts of unfair competition;
dd) Supplying information related to the operation of, administration of transactions in, the electricity markets to the relevant parties;
e) Reporting on electricity trading transaction activities in the electricity markets to the electricity-regulating agencies.
3. The Industry Ministry shall specify the contents defined in Clause 1 and guide the contents in Clause 2 of this Article to suit every development grade of the electricity markets; prescribe the organization, tasks and specific powers of the electricity market transaction-administering units.
Section 2. ELECTRICITY PURCHASE AND SALE AND SERVICE ON ELECTRICITY SUPPLY UNDER TERMED CONTRACTS
Article 22.- Termed contracts on electricity purchase and sale
Termed contracts on electricity purchase and sale must be made in writing and contain the following contents:
1. Contractual parties;
2. Use purpose;
3. Service standards and quality;
4. Rights and obligations of the parties;
5. Electricity prices, payment modes and time;
6. Conditions for contract termination;
7. Liabilities for contractual breaches;
8. The contractual term;
9. Other contents agreed upon by the two parties.
Article 23.- Electricity money payment
1. The electricity buyers must pay fully and on time the billed electricity money to the electricity sellers according to the electricity price tables already approved by competent state bodies. The electricity money shall be paid at the headquarters or residence places of the electricity buyers or at convenient places agreed upon by the two parties in the electricity purchase and sale contracts.
2. The electricity buyers that pay the electricity money late must also pay the interests on the late-paid sums to the electricity sellers.
3. The electricity sellers that collect the electricity money in surplus must reimburse to the electricity buyers the surplus amounts plus the interests thereon.
4. The interests on the late-paid amounts or the excessively-collected amounts shall be agreed upon by the parties in the contracts, which, however, must not exceed the highest lending interest rates of the banks where the electricity sellers open their accounts, as inscribed in the contracts at the time of payment.
5. The electricity buyers may request the electricity sellers to re-examine the payable electricity money amounts. Upon receiving the requests of the electricity buyers, the electricity sellers shall have to settle them within fifteen days. Where they disagree with the settlement by the electricity sellers, the electricity buyers shall propose competent agencies or organizations to organize the conciliation. In case of not proposing the conciliation or failed conciliation, the electricity buyers may initiate lawsuits at courts according to law provisions on civil procedures. Pending the settlement, the electricity buyers shall still have to pay the electricity money and the electricity sellers must not stop the electricity supply.
6. In cases where the electricity buyers do not pay the electricity money though they have been notified of the payment three times by the electricity sellers, fifteen days after the first notification, the electricity sellers may stop supplying the electricity.
The electricity sellers must notify the time for stopping the electricity supply to the electricity buyers 24 hours in advance and shaft not bear responsibly for the damage caused by the electricity supp/y stoppage.
Article 24.- Electricity measurement, counting
1. The electricity-generating -transmitting and/ or -distributing units shall have to invest and install all electricity-measuring or -counting equipment as well as electricity measurement or counting-support equipment except otherwise agreed upon by the parties.
2. The electricity-measuring or -counting equipment must be compatible with Vietnam standards and be standard-inspected and sealed off by state management agencies in charge of measurement.
3. Electricity meters must be installed in areas under the electricity buyers' management, except otherwise agree upon by the parties. The installation positions and installation of meters must ensure safety, beautiful look and convenience for electricity buyers to cheek the meter readings and the electricity setters must note down the meter readings.
4. The electricity buyers shall have to protect the meters instated in areas under their management and promptly notify the electricity sellers of the loss or damage of meters. The electricity sellers shall have to protect meters installed outside areas under the electricity buyers' management
Article 25.- Inspection of electricity-measuring or -counting equipment
1. Only competent or authorized organizations as prescribed by the measurement-State management agencies may inspect electricity-measuring or -counting equipment.
2. The electricity sellers shall have to organize the inspection of electricity-measuring or -counting equipment strictly according to the requirements and time limits prescribed by the measurement-state management agencies.
3. When having doubt that electricity-measuring or -counting equipment are inaccurate, the electricity buyers may request the electricity setters to check them; within three days as from the date of receiving the requests from the electricity buyers, the electricity sellers must check and repair or replace them, in case of disagreeing with the check results, repair or replacement by the electricity sellers, the electricity buyers may request the local State management agencies in charge of electricity activities and use to organize independent inspection. Within fifteen days as from the date of receiving the requests of the electricity buyers, the local State management agencies in charge of electricity activities and use shall have to organize the inspection,
4. The expenses for organization of independent inspections of electricity-measuring or -counting equipment under the provisions of Clause 3 of this Article shall be paid as follows:
a) In cases where the independent inspecting organizations determine that the electricity-measuring or -counting equipment operate in strict accordance with Vietnamese standards, the electricity buyers shall have to pay the inspection expenses.
b) In cases where the independent inspecting organizations determine that the electricity-measuring or -counting equipment operate not in accordance with Vietnamese standards, the electricity sellers shall have to pay the inspection expenses.
5. Where the independent inspecting organizations determine that the readings of the measuring or counting equipment exceed the actually consumed electricity output, the electricity sellers shall have to reimburse the excessively collected amounts to the electricity buyers.
Article 26.- Ensuring quality of electric power
1. The electricity-generating, -transmitting or -distributing units must ensure the compatibility of voltages and electric current frequencies with Vietnamese standards, the contractual electricity output, electric power and electricity supply duration. In case of failure to ensure the standards of voltage, electric current frequency, output, electric power and electricity supply duration according to the signed contracts, thus causing damage to the electricity buyers, the electricity sellers must pay compensations to the electricity buyers according to law provisions.
2. The electricity buyers shall have to ensure that their electrical equipment and appliances operate safely so as not to cause incidents to electric systems and not to affect the voltage quality of electricity grids,
Article 27.- Electricity supply cessation, reduction
1. In case of non-urgent cessation or reduction of electricity supply, except for cases prescribed in Clause 6, Article 23 of this Law, the electricity sellers must notify the electricity buyers thereof at least five days before the time of electricity supply cessation or reduction by announcing such for three consecutive days on the mass media or in other forms of information.
2. In case of urgent cessation or reduction of the electricity supply due to incidents or force majeure events, which are beyond the electricity sellers' control and threaten to cause serious unsafely for human beings, equipment or due to electricity shortage which threatens the safety of the electric systems, the electricity-generating, -transmitting or -distributing units may cease or reduce the electricity supply to the electricity buyers for handling and must within 24 hours notify the electricity buyers of the causes and the estimated time for resumption of electricity supply.
3. In cases where electricity units cease or reduce the electricity supply in contravention of the regulations on electricity supply cessation or reduction, they shall be sanctioned according to law provisions on handling of administrative violations; if causing damage, they must pay compensations to the electricity buyers according to law provisions,
4. In cases where the electricity buyers fail to comply with the provisions at Points a and b of Clause 2, Article 46, Points b and c of Clause 2, Article 47 of this Law, the electricity sellers may cease the electricity supply to the electricity buyers.
Article 28.- Electricity purchase and sale with foreign countries
1. The electricity purchase and sale with foreign countries must be permitted by competent state bodies and stated in the electricity operation licenses.
2. The electricity purchase and sale with foreign countries through the national electric system must ensure the following principles;
a) Not to affect the safety, reliability and stability in operating the national electric system;
b) To satisfy the techno-economic criteria, process and regulations for management of operation of the national electric system;
c) Not to cause harms to the interests of domestic electricity-using customers and the national electricity security.
3. The electricity-using customers in border regions may buy electricity directly from foreign countries without going through the national electric system but must ensure the electric safety criteria and other relevant law provisions.
Section 3. ELECTRICITY PRICES
Article 29.- Electricity price policies
1. To create conditions for various economic sectors to invest in electricity development with reasonable profits, energy resource saving, the use of various new energy, renewable energy without causing environmental pollution in electricity activities, thus contributing to boosting socioeconomic development, particularly in rural areas, mountainous regions, islands.
2. To encourage the thrifty and efficient use of electricity.
3. To implement reasonable price subsidy mechanisms among various customer groups; To gradually reduce, then proceed to abolish the cross subsidy between the production electricity prices and the daily-life electricity prices, thus contributing to boosting production and raising the competitiveness of enterprises.
4. To ensure the right of subjects buying or selling electricity on the electricity markets to determine by themselves the electricity-buying or -selling prices within the price brackets and electricity price tables prescribed by the State in the electricity markets.
5. To ensure the legitimate rights and interests of electricity units and electricity-using customers.
Article 30.- Bases for setting and adjusting the electricity prices
1. The electricity price policies.
2. The socio-economic development conditions of the country, people's incomes in each period.
3. The electricity supply-demand relationship.
4. The electricity production and business costs and reasonable profits of electricity units.
5. The electricity market development grades.
Article 31.- Electricity prices and assorted charges
1. The electricity retailing price tables shall be approved by the Prime Minister. The electricity -regulating agency shall assist the Industry Minister in formulating the electricity retailing price tables and submit them to the Prime Minister for approval.
2. The brackets of electricity generation prices, electricity-wholesaling prices and assorted charges for electricity transmission, distribution, electric-system regulation, electricity market transaction administration, support service expenses shall be formulated by the concerned electricity units and appraised by the electricity-regulating agency before they are submitted to the Industry Minister for approval.
3. The electricity generation prices, electricity-wholesaling prices and electricity-retailing prices under termed contracts for electricity sale shall be decided by electricity units but must not fall beyond the price brackets, price tables already approved by competent state management bodies.
4. The electricity prices for spot dealings shall be formulated at the time of transaction on the electricity markets and publicized by the electricity market transaction-administering units in accordance with the provisions of Points f and h of Clause 1, Article 21 of this Law.
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