Photo By: Ngoc Ha
All preparations had been finalised, the Government said.
The market would operate under the model of a cost-based pool in which power producers had the right to offer power prices based on the market.
All electricity output would be sold to a single wholesale enterprise.
The competitive power generation market would ensure competition in power manufacture and pricing for the benefit of both enterprises and consumers while attracting more investments into the power generation.
Power plants with capacities of more than 30MW, excluding wind power and geothermal plants, would be allowed to join the competitive power generation market.
Viet Nam was scheduled to run a competitive power generation market until the end of 2014 then turn to a competitive power wholesale market by 2015.
Meanwhile, Deputy Prime Minister Hoang Trung Hai said speeding up power transmission projects would be the electricity industry's priority this year.
Under the power master plan, eight power plants are scheduled to be operational next year but the construction of transmission line systems for some plants has been slower than expected.
They include the 500kV lines and 200kV lines to transmit electricity from Vung Ang, Duyen Hai, Vinh Tan, Dak Drinh, Song Bung 4, Song Bung 2 power plants.
The plan's steering committee said the slow construction of transmission lines was caused by lack of capital and slow site clearance.
Hai said the transmission lines must be ready when power plants came on line next year, particularly lines to Ha Noi and HCM City where there was a rapid increase in power demand.
He ordered banks to speed up the allocation of money while setting up a bond issue to raise capital for power projects.
In addition, the Ministry of Industry and Trade would consider the electricity price adjustment to attract more investment into electricity from private and foreign sectors.
Problems related to relocating residents along the route must also be handled, Hai said.
VietNamNews