Chương IV Thông tư 30/2014/TT-BCT: Kế hoạch vận hành thị trường điện

Chapter IV

OPERATIONAL PLAN OF ELECTRICITY MARKET

Section 1: OPERATIONAL PLAN FOR NEXT YEAR

Article 17. Operational plan for next year

1. The electricity system and market operating Unit shall make the operational plan for electricity market for next year, including the following contents:

a) Choosing the best new power plant;

b) Calculating the price of market capacity;

c) Calculating the water value and the optimal water level of reservoirs;

d) Calculating the limit of price in quotation of the thermoelectric set;

dd) Determining the plan of market price ceiling;

e) Taking charge and coordinating with the single wholesaling Units  to calculate the planned output, yearly contract output and allocate the annual contract output to the months in a  year of the electricity generating Units directly doing transaction.

2. The electricity system and market operating Unit shall use the electricity market simulation model to calculate the contents specified under Points a, b, c, d and dd, Clause 1 of this Article. The input parameters used in the market simulation of the thermoelectric sets are variable cost of the generating set and are specified in Clause 3 of this Article. The hydrological features and specifications of hydropower plants.

3. The variable cost of the thermoelectric set is determined as follows :

a) Where the value of heat rate is determined, the variable cost of generating set is determined as follows:

In which:

VC: Variable cost of thermoelectric set (dong/kWh);

f: Coefficient of additional cost is calculated by the percentage of total start cost, fuel-secondary material cost and variable maintenance and operation cost for generation compared with main material cost; P_NL: Price of main material cost of the thermoelectric set (dong/kCal or dong/BTU);

HR: Heat rate of thermoelectric set (BTU/kWh or kCal/kWh);

- Fuel price (P_NL) is the Estimated fuel price for year N provided by the single wholesaling Units  for  the electricity system and market operating Unit.

The fuel price of year N is the fuel price announced by the competent authorities for year N or in the long-term primary fuel sale contract. Where there are both two prices mentioned above, the fuel price announced by the competent authorities for year N is used. Where there is no both two prices mentioned above, the fuel price of year N is calculated by the average of actual fuel price used for payment of the last 12 months before the time of operational planning for year N;

- The heat rate of thermoelectric set (HR) is determined by the heat rate agreed in the contract or in dossier of negotiation of electricity sale contract provided by the single wholesaling Units  and adjusted by the coefficient of performance degradation. Where the heat rate in the contract is the average heat rate of life of contract, it is not necessary to adjust it as per the coefficient of performance degradation. If in the contract or in dossier of negotiation of electricity sale contract, there is only a characteristic curve of capacity loss at the load levels, the heat rate of the generating sets is determined at the load level corresponding to the average power output generated in many years of the power plant specified in the electricity sale contract.

Where the thermoelectric set has no data of heat rate in the contract or in dossier of negotiation of electricity sale contract, the heat rate of such power plant is determined by the heat rate of standard power plant of the same group with the technology of electrical generation and installed capacity. The electricity system and market operating Unit calculates the heat rate of standard power plant.

- The coefficient of performance degradation of the thermoelectric set is determined by the heat rate in the contract or in dossier of negotiation of electricity sale contract provided by the single wholesaling Units .

Where the thermal power plant has no data of coefficient of performance degradation in the contract or in dossier of negotiation of electricity sale contract, apply the coefficient of performance degradation of standard power plant of the same group with such power plant which the electricity system and market operating Unit has determined;

- Coefficient of additional cost (f) of the thermoelectric set which the single wholesaling Units  has determined and and provided for the electricity system and market operating Unit based on the data in the electricity sale contract or dossier of negotiation of electricity sale contract. Where the coefficient of additional cost of the thermoelectric set is not included in the contract or dossier of negotiation of electricity sale contract, the the coefficient of additional cost of such thermoelectric set is determined according to the Regulation on method of setting of price of electrical generation; order and procedures for verifying the electricity sale contract which the Ministry of Industry and Trade has issued;

b) Where there is no data of heat rate in the contract or in dossier of negotiation of electricity sale contract and no standard power plant of the same group, the variable cost of the generating set is determined by the variable price in the contract with update of factors affectin the variable price of year N by the method agreed in the contract.

4. The electricity system and market operating Unit must request the Vietnam Electricity to appraise and the Electricity Regulatory Authority to approve the operational plan for next year as per the electricity market operation schedule specified in Annex 1 of this Circular. The submitted dossier includes the calculation result, input data and calculation explanation.

5. Where the price of coal and gas for electrical generation changes largely compared with the time of approving the operational plan for next year, the Electricity Regulatory Authority shall review and request the electricity system and market operating Unit to update the data and re-calculate the operational plan for the remaining months in the year and submit to the Vietname Electricity for appraisal and to the Electricity Regulatory Authority for approval.

Article 18. Classification of power plant

1. The power plants in the electricity market is classified as follows:

a) Multi-objective strategic hydropower plants;

b) Group of ladder hydropower plants;

c) Group of hydropower plants having reservoir with regulation capability of more than 01 week;

d) Group of hydropower plants having reservoir with regulation capability from 02 days to 01 week;

dd) Group of hydropower plants having reservoir with regulation capability of less than 01 week;

2. Every year, the electricity system and market operating Unit must update the list of hydropower plants specified in Clause 1 of this Article.

3. Based on the proposal of the Vietnam Electricity, the Electricity Regulatory Authority shall make a list of multi-objective strategic hydropower plants for the Ministry of Industry and Trade to submit it to the Prime Minister for approval.

Article 19. Load forecasting for the operational planning for next year

The electricity system and market operating Unit must forecast the load for the operational planning for next year by the method specified in the Regulation on power transmission system issued by the Ministry of Industry and Trade. The data of load forecasting for the planning of operation for next year include:

1. The total demand for load of national electricity system and load of the North, Central and South for the entire year and each month in a year.

2. The load chart of typical days of the North, Central and South and the whole of national electricity system of months in a year.

3. Maximum and minimum capacity of load of national electricity system in each month.

Article 20. Auxiliary services for operational plan for next year

1. The electricity system and market operating Unit must determine the demand for auxiliary services for next year under the provisions in the Regulation on power transmission system issued by the Ministry of Industry and Trade.

2. The electricity system and market operating Unit must choose the power plant to provide the auxiliary services. The power plant chosen shall provide the auxiliary services and be paid as stipulated by the Ministry of Industry and Trade.

Article 21. Classification of generating set with base load for next year, intermediate load and peak load

1. The electricity system and market operating Unit shall classify the generating set with base load, intermediate load and peak load under the provisions in the Procedures for classification of generating set and calculate the price ceiling of quotation of the thermal power plant issued by the Electricity Regulatory Authority.

2. The electricity system and market operating Unit shall use the electricity market simulation model to determine the annual average load factor of generating sets.

3. Based on the annual average load factor from the simulation result, the generating sets are classified into 03 (three) groups as follows:

a) Group of generating set with base load includes the generating set with annual average load factor greater or equal to 60%;

b) Group of generating set with intermediate load includes the generating set with annual average load factor greater than 25% and less than 60%;

c) Group of generating set with peak load includes the generating set with annual average load factor less than or equal to 25%;

Article 22. Determining the limit of offered price of generating set

1. In case of determination of value of heat rate:

a) The price ceiling of quotation of thermoelectric set is determined by the following formula:

In which:

: Price ceiling of quotation of thermoelectric set (dong/kWh);

f: Coefficient of additional cost is calculated by the percentage of total start cost, fuel-secondary material cost and variable maintenance and operation cost for generation compared with main material cost;

K_DC: Adjustment coefficient of price ceiling as per the classification result of thermoelectric set. For the thermoelectric set with base load K_DC = 2%; thermoelectric set with intermediate load K_DC = 5%; K_DC = 5%; the thermoelectric set with peak load K_DC = 20%.

P_NL: Price of main fuel of thermoelectric set (dong/kCal or dong/BTU);

HR: Heat rate at the average load of thermoelectric set (BTU/kWh or kCal/kWh);

b) The parameters on coefficient of additional cost (f), fuel price (P_NL) and heat rate (HR) of the thermoelectric set are determined as stipulated under Point a, Clause 3, Article 17 of this Circular.

2. Where there is no data of heat rate in the contract or dossier of dossier of negotiation of electricity sale contract and there is no standard power plant of the same group :

a) The price ceiling of quotation of thermoelectric set is determined by the following formula:

In which:

: Price ceiling of thermoelectric set (dong/kWh);

K_DC: Adjustment coefficient of price ceiling as per the classification result of thermoelectric set. For the thermoelectric set with base load K_DC = 2%; thermoelectric set with intermediate load K_DC = 5%; K_DC = 5%; the thermoelectric set with peak load K_DC = 20%.

: Variable price for year N under the electricity sale contract for difference of the power plant (dong/kWh).

b) Variable price used to calculate the price ceiling is the estimated variable price for year N provided by the single wholesaling Units  for the electricity system and market operating Unit.

3. Price floor of thermoelectric sets specified in Clause 3, Article 10 of this Circular.

4. The electricity system and market operating Unit must announce the approved limit of price offering of thermoelectric sets according to the electricity market operation schedule specified in Annex 1 of this Circular.

Article 23. Determining the market price ceiling

1. The electricity system and market operating Unit shall calculate the plans of market price ceiling, including at least 03 (three) plans.

2. The market price ceiling for year N is determined by the principle:

a) No less than the variable cost of thermoelectric sets with base load and intermediate load with direct offered price in the electricity market;

b) No greater than 115% of price ceiling of highest quotation in thermoelectric sets with base load or intermediate load with direct offered price in the electricity market;

Article 24. Choosing the best new power plant

1. The best new power plant for year N is the power plant participating in the electricity market and meeting the following criteria:

a) Beginning commercial operation and generating power with the whole installed capacity in year N-1;

b) Being power plant with base load, classified by the criteria specified in Clause 3, Article 21 of this Circular;

c) Using thermal coal technology or combined cycle gas turbine technology;

d) Having the average cost of full electric generation for 01 kWh as the lowest cost.

2. The single wholesaling Units  shall make a list of power plants which meet the criteria under Point a and c, Clause 1 of this Article and provide data of electricity sale contract of such power plants to the electricity system and market operating Unit to determine the best new power plant. The data include:

a) Variable price for year N;

b) Fixed price for year N;

c) Agreed power output for calculation of contract price

3. Where there is no power plant meeting the criteria specified under Point a, b and c, Clause 1 of this Article, the electricity system and market operating Unit shall use the list of new plants chosen for year N-1 and request the single wholesaling Units  to update and re-provide data specified in Clause 2 of this Article for calculating and choosing the best new power plant for year N.

4. The electricity system and market operating Unit shall calculate the average cost of full electric generation for 01 kWh for the power plants which have met the criteria specified under Point a, b and c, Clause 1 of this Article by the following formula:

: Average cost of full electric generation for 01 kWh in year N of the power plant (dong/kWh);

: Fixed price for year N under the electricity sale contract for difference of the power plant(dong/kWh);

: Variable price for year N under the electricity sale contract for difference of the power plant(dong/kWh);

: Agreed power output to calculate contract price for year N of power plant (kWh);

: Estimated power output in year N of the power plant determined from the electricity market simulation model by the method of constrained scheduling (kWh).

5. The list of best new power plants arranged in the order of average cost of full electric generation for 01 kWh from low to high. The best new power plant chosen for year N is the power plant with the average cost of full electric generation for 01 kWh as the lowest according to the calculation result in Clause 4 of this Article.

Article 25. Principles to determine the market capacity price

1. Ensuring the best new power plant shall recover adequate cost of electric generation upon participation in electricity market.

2. Not applying the market capacity price for night off-peak hours, in which the night off-peak hours are the hours from 00:00 AM to 04:00 AM and from 22:00 PM to 24:00 PM.

3. The market capacity price is proportional to the forecast load of the national electricity system for transaction cycle.

Article 26. Order of determining the market capacity price

The electricity system and market operating Unit shall determine the market capacity in the following order:

1. Determining the annual Deficient cost of the best new power plant

a) Determining the Estimated revenue in the market of the best new power plant in year N by the following formula:

In which:

R_TTĐ: Estimated revenue from the market power price of the best new power plant in year N(dong);

i: Transaction cycle i in year N;

I: Total transaction cycles in year N;

SMP_i: Estimated price of market power of transaction cycle i in year N determined from the electricity market simulation model by the method of unconstrained scheduling (dong/kWh);

: Estimated output at metering location of the best new power plant at the transaction cycle i in year N determined from the electricity market simulation model by the method of constrained scheduling (kWh);

:   .

b) Determinig the total annual cost of electric generation of the best new power plant by the following formula:

In which:

TC_BNE: Annual cost of electric generation of the best new power plant in year N (dong);

P_BNE: Average cost of full electric generation for 01 kWh of the best new power plant determined in Clause 4, Article 24 of this Circular (dong/kWh);

: Estimated output at the metering location of the best new power plant at the transaction cycle i in year N determined from the electricity market simulation model by the method of constrained scheduling;

i: Transaction cycle i in year N;

I: Total transaction cycles in year N.

c) Annual Deficient cost of the best new power plant determined by the following method:

In which:

AS: Deficient cost of the best new power plant in year N (dong);

TC_BNE: Total annual cost of electric generation of the best new power plant in year N determined under Point b of this Clause (dong);

: Estimated revenue from the market power price of the best new power plant in year N determined under Point a of this Clause (dong).

d) In case of calculing the annual Deficient cost with negative value by the plan of lowest market price ceiling, the electricity system and market operating Unit shall report to the Electricity Regulatory Authority to choose the next best new power plant in the list of new power plants specified in Article 24 of this Circular and re-calculate or review the list of power plants participating in the electricity market to determine the price ceiling rationally.

2. Determining the monthly Deficient cost

Deficient cost of the best new power plant is determined by allocating the yearly Deficient cost  into the month in year N by the following formula:

In which:

t: Month t in year N;

MS: Deficient cost of month t of the best new power plant (dong);

AS: Yearly Deficient cost of the best new power plant in year N (dong);

: Peak load capacity in month t (MW).

3. Determinating the market capacity price for transaction cycle

a) Determining the average available capacity in a year of the best new power plant by the following formula:

In which:

Q_BNE: Average available capacity in year N of the best new power plant (kW);

I: Total transaction cycles in year N, except for night off-peak hours;

i: Transaction cycle in which the best new power plant is estimated to be mobilized, except for night off-peak hours;

: Estimated mobilized capacity of the best new power plant in transaction cycle i of year N as per the electricity market simulation model by the method of constrained scheduling converted to the metering location (kW).

b) Determing the market capacity price for each transaction cycle in the next year by the following formula:

In which:

I: Total transaction cycles in month t, except for night off-peak hours;

i: Transaction cycle i in month t, except for night off-peak hours;

: Price of market capacity of transaction cycle i (dong/kW);

Q_BNE: Average available capacity in year N of the best new power plant (kW);

MS: Deficient cost of month t of the best new power plant (dong);

: Load of forecasting system of transaction cycle i as per the load chart of forecastin typical day of month t is specified in Article 19 of this Circular (MW);

: Minimum load of forecasting system for month t (MW).

Article 27. Determining the total yearly contract output

The total yearly contract output of the power plant is determined by the following steps:

1. Operational planning of electric system for next year by the method of constrained scheduling. The input parameters used in the plan for operation of electric system for next year is the full value of the thermal power plants, the hydrological features and specifications of the power plant.

2. Calculating the total yearly planned output of the power plant by the following formula:

          if         

       if         

     if         

In which:

: Total planned output of year N of the power plant (kWh);

: Estimated output of year N of the power plant determined from the plan for operation of electric system for the next year converted to the metering location (kWh);

GO: Average power output generated in many years of the power plant specified in the electricity sale contract (kWh);

a, b: Adjustment coefficient of yearly output is determined according to the Regulation on method for price preparation, order and procedures for verification of electricity sale contract which the Ministry of Industry and Trade has issued.

3. Calculating the total yearly contract output of the power plant by the following method:

In which:

Q_c: Total contract output of year N (kWh);

: Planned output of year N of the power plant (kWh);

: Output percentage paid at contract price applicable to year N (%). This output percentage is specified in Clause 5 of this Circular.

Article 28. Determining monthly contract output

The monthly contract output of thermal power plant and hydroelectric plant having reservoir with regulation capability of more than 01 week is determined during the the operational planning of electricity market for next year, including the following steps:

1. Using the electricity market simulation model specified in Clause 2, Article 17 of this Circular by the method of constrained scheduling to determine the estimated output of each month of power plant.

2. Determining the monthly contract output by the following formula:

In which:

: Contract output of month t of power plant (kWh);

Q_c: Total yearly output of power plant (kWh);

: Estimated output in month t of power plant determined from the electricity market simulation model by the method of constrained scheduling (kWh).

Article 29. Responsibility to determine and sign the output of yearly and monthly contract

1. The electricity system and market operating Unit is responsible for:

a) Calculating the output of yearly and monthly contract of the electricity generating Units as stipulated in Article 27 and 28 of this Circular;

b) Sending the calculation result of yearly and monthly contract to the single wholesaling Units  and the electricity generating Units directly doing transaction for verification bedore 15 November of each year.

2. The single wholesaling Units are responsible for:

a) Providing data for the electricity system and market operating Unit to calculate the output of yearly and monthly contract;

b) Verifying and coordinating with the electricity system and market operating Unit to handle the discrepancies in the calculation result of yearly and monthly contract;

c) Supplementing appendix and amendments of contract appendix on output of yearly and monthly contract into the electricity sale contract for difference as per the calculation result.

3. The electricity generating Units directly doing transaction are responsible for:

a) Providing data for the electricity system and market operating Unit and the single wholesaling Units to calculate the output of yearly and monthly contract;

b) Verifying and coordinating with the electricity system and market operating Unit to handle the discrepancies in the calculation result of yearly and monthly contract;

c) Supplementing appendix and amendments of contract appendix on output of yearly and monthly contract into the electricity sale contract for difference as per the calculation result.

Article 30. Determining the estimated average electrical generation price for year N

1. The electricity system and market operating Unit shall calculate the estimated average electrical generation price for year N and the extent of change of estimated average electrical generation price compared with year N-1.

2. The yearly average electrical generation price for year N:

In which:

j: Power plant j of the single electricity generating Units directly doing transaction;

J: Total power plants of electricity generating Units directly doing transaction;

P_PDTB: Average electrical generation price of the entire system (dong/kWh);

: Average full market price of year N specified in Clause 4 of this Article (dong/kWh);

: Total power output in year N of the entire system (kWh);

: Total power output in year N of the electricity generating Units directly doing transaction (kWh);

: Total power output  in the electricity sale contract for difference in year N of the power plant j (kWh);

: Price of electricity sale contract for difference in year N of power plant j (kWh);

: Total cost of power purchase from the BOT power plants (dong);

: Total cost of power purchase from the multi-objective strategic hydropower plants (dong);

C_DVPT: Total cost of auxiliary services in year N (dong).

3. The electricity system and market operating Unit shall gather information on the costs of BOT power plants, the multi-objective strategic hydropower plants and the power plants providing the auxiliary services from the Vietnam Electricty to calculate the yearly average electrical generation price as stipulated in Clause 2 of this Article.

4. The average full market price is determined by the following formular:

In which:

i: Transaction cycle i in year N;

I: Total transaction cycle in year N;

: Average full market price of year N (dong/kWh);

: Estimated output generated into market of all power plants participating in the market in the transaction cycle i determined from the constrained electricity market simulation model (kWh);

: Estimated price of market power of transaction cycle i determined from the unconstrained electricity market simulation model (dong/kWh);

: Price of market capacity of transaction cycle i (dong/kW).

Article 31. Publicizing the plan for operation of electricity market for next year

1. After the plan for operation of electricity market for next year is approved under the provisions in Article 17 of this Circular, the electricity system and market operating Unit shall announce on its website the information on the input data and the results of operational plan of electricity market for next year to the members of electricity market.

2. The information on the plan for operation of electricity market for next year is announced, including:

a) - Giá điện năng thị trường dự kiến Estimated market power price;

- Result of selection of best new power plant;

- Hourly price of market capacity;

- Price ceiling of market power price;

- Classification of thermalelectric sets;

- Yearly contract output and output allocated into months of power plants.

b) Input parameters for calculating the plan for yearly operation of electricity market:

- Forecast load of the North, Central and South and for the entire national electricity system;

- Hydroelectrical data of reservoirs used for calculating and simulating the electricity market;

- Progress to put new power plants into operation;

- Technical parameters about transmission grid;

- Chart of estimated electricity import and export;

- Yearly maintenance and repair schedule of power plants, transmission grid and major gas supply sources.

3. The information on the plan for operation of electricity market for next year is only provided for the electricity generating units directly doing transaction owning the power plants directly related to such information, including :

a) Estimated power output in electricity market simulation of the power plant;

b) Water value of hydropower plant;

c) Data about variable price of thermal power plant are used in simulation calculation.

Section 2: OPERATIONAL PLAN FOR NEXT MONTH

Article 32. Forecast load for operational plan for next month

The electricity system and market operating Unit shall forecast the load for operational plan for next month by the method specified in Regulation on power transmission system issued by the Ministry of Industry and Trade. The data of forecast load for operation plan for next month include:

1. The total demand for load of national electricity system and load of the North, Central and South for the entire year and each week in a month.

2. The load chart of typical days of the North, Central and South and the whole of national electricity system of weeks in a month.

Article 33. Calculating water value

The electricity system and market operating Unit shall calculate the water value for weeks in next month. The result of calculation of water value shall be used for operational plan for next month, including

1. Estimated output of multi-objective strategic hydropower plants.

2. Water value of hydropower plant in the groups of ladder hydropower plants.

3. Water value of hydropower plants having reservoir with regulation capability of more than 01 week.

4. Optial water level of each week in a month of hydropower plants having reservoir with regulation capability of more than 01 week.

Article 34. Classifying the generating set with base, intermediate and peak load

1. The electricity system and market operating Unit shall classify generating set with base, intermediate and peak load in next month according to the Procedures for classifying the generating set and calculate the price ceiling of monthly quotation of thermoelectric power plants issued by the Electricity Regulatory Authority.

2. The electricity system and market operating Unit shall use the market simulation model to determine the monthly average load factor of generating sets in next month.

3. Based on the monthly average load factor from the simulation result, the generating sets are classified into following 03 (three) groups:

a) Group of generating sets with base load includes the generating Units with average load factor greater or equal to 70%;

b) Group of generating sets with intermediate load includes the generating Units with average load factor greater than 25% and less than 70%;

c) Group of generating sets with peak load includes the generating Units with average load factor less than or equal to 25%;

Article 35. Adjusting the price ceiling of quotation of thermolelectric set

1. The electricity system and market operating Unit shall calculate and adjust the price ceiling of quotation of thermolelectric sets in next month by the method specified in d 22 of this Circular base on:

a) Fuel price of next month in case the price ceiling of quotation is specified in Clause 1, Article 22 of this Circular.

The fuel price of next month is the fuel price announced by the competent authorities  and applied for next month. In case there is data of fuel price announced by the competent authorities, the fuel price of next month is the one as per the payment documents of the last month before the time to set up the plan for next month. The single wholesaling Units  shall update information on fuel price of thermal power plants in next month and provide it for the electricity system and market operating Unit and notify the electricity generating Units.

b) The variable price of thermal power plants in case the price ceiling of quotation is specified in Clause 2, Article 22 of this Circular.

The single wholesaling Units  shall update the changes of variable price of thermal power plants and provide them for the electricity system and market operating Unit;

c) The result of classification of thermoelectric set for next month as stipulated in Article 34 of this Circular.

2. The electricity system and market operating Unit shall announce the price ceiling of quotation of thermoelectric set  in next month according to the electricity market operation schedule specified in Annex 1 of this Circular.

Article 36. Adjusting the monthly contract output

1. The monthly contract output may be adjusted in case the schedule of maintenance and repair of plant in month M is changed compared with the yearly operational plan as required by the electricity system and market operating Unit to ensure the security of electricity system, not due to causes of plant. The adjustment of monthly contract output in this case is based on the following principles: Transfer of Qc between months corresponding to the time of repair in the order to ensure the total Qc of months in year with adjustment remains unchanged.

In case the plant whose maintenance and repair schedule is changed in months at the end of year, the Qc output corresponding to the repair time of this month to the following year.

2. Where the actual hydrological situation of hydropower plant is so different compared with the hydrological forecast applied in calculating and planning the yearly operation, the power plants shall coordinate and make confirmation with the electricity system and market operating Unit and the single wholesaling Units  and make report to the Electricity Regulatory Authority for review and adjustment for next month.

Article 37. Determining the hourly contract output

The electricity system and market operating Unit shall determine the hourly contract output in next month for the power plant as per the following steps:

1. Using the market simulation model as stipulated in Clause 2, Article 17 of this Circular to determine the estimated hourly output in a month of the power plant by the method of constrained scheduling

2. Determining the hourly contract output by the following formula:

In which:

i: i^th transaction cycle in a month;

I: Total cycles in a month;

: Contract output of power plant in transaction cycle i(kWh);

: Output with estimated generation of power plant in transaction cycle i determined from the electricity market simulation model by the method of constrained scheduling (kWh).  ;

: Monthly contract output of the power plant is determined under the provisions of Article 28 of this Circular (kWh).

3. Where the contract output of the power plant in transaction cycle i is greater than the greatest generated output of the power plant, the contract output in such transaction cycle shall be adjusted by the greatest generated output of the power plant.

4. Where the contract output of thermal power plant in transaction cycle i is greater than 0 MW and less than the lowest stable generated capacity (Pmin) of the power plant, the contract output in such transaction cycle shall be adjusted by the lowest stable generated capacity of the power plant. The lowest stable generated capacity (Pmin) of the power plant is determined by the lowest stable generated capacity of 01 (one) generating set of the power plant with mobilized scheduling in the electricity market simulation model of such cycle.

Where the contract output of hydropower plants is less than the lowest stable generated capacity, it can be adjusted by 0 MW or equal to the lowest stable generated capacity.

5. The electricity system and market operating Unit shall allocate the differential total output due to the adjustment of hourly contract output under the provisions in Clause 3 and 4 of this Article at other hours in a month on the principle of ensuring the monthly contract output remains unchanged and complying with the provisions in the Procedures for operational plan for next week, month and year which the Electricity Regulatory Authority issues.

6. The electricity system and market operating Unit shall send the result of calculation of hourly contract output in a month to the single wholesaling Units  and the electricity generating Units directly doing transaction as per the electricity market operation schedule specified in Annex 1 of this Circular.

7. The single wholesaling Units  and the electricity generating Units directly doing transaction shall sign for confirmation of monthly contract output adjusted according to Article 36 of this Circular and the hourly contract output as per the result of calculation of the electricity system and market operating Unit.

Section 3: OPERATIONAL PLAN FOR NEXT WEEK

Article 38. Water value for next week

1. The electricity system and market operating Unit shall update the forecast load data, hydrological data and relevant data to calculate the water value for next week.

2. The electricity system and market operating Unit shall update information and re-calculate the water value for next week and announce the following results:

a) Water value and hourly estimated output of multi-objective strategic hydropower plants;

b) Water value of groups of ladder hydropower plants and hydropower plants having reservoir with regulation capability of more than 1 week;

c) Hourly estimated output of hydropower plants having reservoir with regulation capability of less than 2 days;

d) Weekly limited water level of reservoirs with regulation capability of more than 01 week under the provisions in the Procedures for short and medium-term assessment of electricity system security issued by the Electricity Regulatory Authority on the implementation of Regulation on power transmission system issued by the Ministry of Industry and Trade.

Article 39. Determining the contract output of hydropower plants having reservoir with regulation capability from 02 to 01 week

1. The electricity system and market operating Unit shall calculate and announce the weekly contract output and allocate it to each transaction cycle in a week of the hydropower plants having reservoir with regulation capability from 02 days to 01 week under the provisions in the Procedures for operational plan for next week, month and year which the Electricity Regulatory Authority issues.

2. The electricity system and market operating Unit shall send the weekly contract output of the hydropower plants having reservoir with regulation capability from 02 days to 01 week to the single wholesaling Units  and the electricity generating Units that shall sign for confirmation of weekly contract output of the power plant as a basis for electricity payment.

Article 40. Limit of offered price of hydropower plant

1. The limit of offered price of hydropower plant having reservoir with regulation capability of more than 01 week is determined based on the water value for next week of such power plant is announced under the provisions in Clause 2, Article 28 of this Circular, specifically as follows:

a) Price floor of quotation is equal to 0 dong/kWh ;

b) Price ceiling of quotation is equal to the highest value of:

- Water value of such power plant;

- Average price of price ceilings of quotation of thermoelectric sets participating in the electricity market in the monthly operational plan;

c) Every month, the electricity system and market operating Unit shall announce the average price of the price ceilings of quotation of thermoelectric sets for next month for hydropower plants having the same schedule of announcing price ceiling of quotation of thermoelectric sets in next month.

2. The limit of offered price of of thermal power plant having reservoir with regulation capacity from 02 days to 01 week is determined as follows:

a) Price floor of quotation is equal to 0 dong//kWh;

b) Price ceiling of quotation is equal to the highest value:

- Highest water level of hydropower plants participating in electricity market;

- Average price of price ceiling of quotation of thermal power plants participating in electricity market;

c) Every week, the electricity system and market operating Unit shall announce the highest water value of hydropower plants participating in electricity market next week for the hydropower plants having reservoir with regulation capability from 02 days to 01 week.

3. Where the reservoir of hydropower plant violates the weekly limited water level, the price ceiling of quotation of such hydropower plant is applied to the next week is equal to the variable cost of the most expensive diesel oil-operated thermoelectric set in the electricity system. When ensuring no violation of weekly limited water level, the plant shall continue to apply the price ceiling under the provisions in Clause 1 or 2 of this Article from the Tuesday. Every month, the electricity system and market operating Unit shall announce the price of the most expensive diesel oil-operated thermoelectric set in the electricity system.

4. Where the hydropower plant is located in the region with power backup lower than 5% announced according to the Procedures for short and medium-term assessment of electricity system security issued by the Electricity Regulatory Authority guiding the implementation of Regulation on power transmission system issued by the Ministry of Industry and Trade, the price ceiling of quotation of hydropower plants in this region of assessment week is equal to the variable cost of the most expensive diesel oil-operated thermoelectric set in the electricity system. When the power backup of region is equal to or higher than 5% , the plants in such region shall continue to apply the weekly price ceiling under the provisions in Clause 1 and 2 of this Article.

5. The hydropower plants participating in electricity market shall offer price must meet the following requirements:

a) Complying the provisions on price ceiling of quotation and price floor of quotation in Clause 1, 2, 3 and 4 of this Article;

b) Constrained requirements on need of use of downstream water and other hydrological constraints.

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