The amended Electricity Law paves the way for new power projects

The amended Electricity Law project was implemented in the context of rapidly growing energy demand, potential delays in the implementation of the 8th Power Plan due to institutional obstacles, and the challenge of transitioning to green energy while reducing carbon emissions - posing difficulties for businesses in obtaining clean energy to support production development.

On December 1, 2023, the Government issued Resolution No. 203/NQ-CP, officially beginning the process of amending the Electricity Law. The resolution tasked the Ministry of Industry and Trade with completing the documentation and submitting it to the National Assembly for approval in the October 2024 session, setting a clear and urgent goal.

On May 30, 2024, during the 7th session of the 15th National Assembly, the National Assembly’s Standing Committee submitted a proposal to include the amended Electricity Law in the 2024 law-making program alongside seven other laws.

The National Assembly’s Standing Committee emphasized that if the law project was well-prepared and discussions reached broad consensus, the Standing Committee would coordinate with the Government to submit it for approval at the 8th session under a single-session procedure.

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In response to the urgency of the situation and in line with the Prime Minister’s directive to “only move forward, not backward,” Minister of Industry and Trade Nguyen Hong Dien, as the head of the industry and trade sector - the organization presiding over the law drafting- held meetings with the law drafting committee and editorial team, urging decisive action to ensure timely progress on the law project.

Just as the 500kV transmission line project was completed with remarkable speed due to the involvement of the entire political system, the amended Electricity Law project reflects the determination of 47 drafting committee members and 136 editorial team members, representing ministries, industries, associations, businesses, independent experts, and functional units within the Ministry of Industry and Trade, under the close direction of the Prime Minister.

To ensure the law project progressed on schedule and met high-quality standards, Minister Nguyen Hong Dien, as head of the drafting committee, directed the implementation process by organizing the editorial team into groups based on the contents to be amended. These groups were divided into three categories: power regulation and energy efficiency, power and renewable energy planning and development investment, and electrical safety and hydroelectric dam safety.

The law amendment process was extremely challenging, involving six technical and complex areas that impacted almost every aspect of economic and social life, introducing new elements for Vietnam that had never been tested before.

The Ministry of Industry and Trade conducted extensive consultations with the public and business communities, sending documents to 139 agencies and organizations for feedback. Additionally, the Ministry organized nine seminars and conferences across the northern, central, and southern regions to disseminate information and gather input from experts, management agencies, and industry associations.

It can be said that the project entailed an enormous amount of work, with thousands of comments, many of which were scientific and technical, covering complex issues such as electricity markets, electricity pricing, and offshore wind power. These suggestions were reviewed, revised and submitted to the verifying agency, the National Assembly’s Committee on Science, Technology and Environment.

According to experts, usually, it takes 3-4 years or even longer to complete a new law project, and at least two years to accomplish a law amendment project. However, for the amended Electricity Law, the time taken for revision and approval was less than a year, highlighting the immense workload of the drafting agency and the verifying agency, the National Assembly’s Standing Committee.

It can be affirmed that over the past nearly one year, the amended Electricity Law project has been prepared very thoroughly; all resources have been mobilized with a truly open, listening and democratic spirit, maximizing the contributions of experts, scientists, the business community, voters, and citizens across the country.

With a sense of responsibility, efforts, and close coordination between the National Assembly, the Government, and relevant agencies and organizations, the work has been carried out swiftly, meticulously and cautiously to build and ensure the quality of the draft law, which was approved by the National Assembly on the afternoon of November 30, 2024.

The amended Electricity Law, passed by the National Assembly, is a remarkable achievement, as it was amended and approved in less than a year with a single session. This timely law has created a legal framework, resolved policy bottlenecks, and met the expectations of voters and businesses, aiming to unlock resources for the development of Vietnam’s electricity sector. It also contributes to accelerating the implementation of electricity projects and ensuring power supply security, especially in the context of the high and rapidly increasing demand for electricity in the near future./.