On 15, November 2018, the Ministry of Industry and Commerce (MIC) issued Circular 45/2018/TT-BCT regulating the operation of the competitive electricity wholesale market and amending, supplementing Circular 56/2014/TT-BCT on the method of determination of electricity generation price and the procedure of inspection of electricity trading contracts. This Circular takes effect on 1, January 2019.
Accordingly, Circular 45/2018/TT-BCT specifies the responsibility of participating in the electricity market of the power generation unit, specifically:
– The power plant has a license for electricity activities in the field of electricity generation, with a capacity of more than 30MW connected to the national power system; Power plants with a capacity of up to 30MW connected to power grids of 110KV or higher shall directly participate in the electricity market;
– Non-hydro power plants with a capacity of more than 30MW have the option to participate in the electricity market;
– Power plants indirectly involved in the electricity market: BOT power plants; Non-hydropower renewable energy power plants except for the above.
Power plants that have been licensed to operate electricity and have to join the electricity market but do not register to participate in the electricity market will not be able to mobilize electricity to the national grid.
It can be seen, with the above specific regulations, the Ministry of Industry and Trade has clearly and clearly defined the responsibilities of the power generation units in participating in the electricity market, thereby contributing to improving the efficiency of the management. State management as well as the creation of a mechanism for operating the wholesale electricity wholesale market.