Main Contents of New Law on Electricity in Vietnam
2024.12.26.
On 30 November 2024, the National Assembly passed the New Electricity Law (the “New Electricity Law”), which introduces significant updates to Vietnam’s energy policy. This is an important legal document governing power and energy sectors in Vietnam, expected to create positive momentum for the economy, ensuring growth goals and national energy security.
The New Electricity Law covers key areas including, among others, electricity development planning, investment and construction of electricity projects, development of renewable energy and new energy, electricity operation license, competitive electricity market, electricity prices, electricity trading activities; dispatch and operation of the national electricity system, protection of electricity works and safety in the electricity sector and State management of electricity.
This New Electricity Law will be effective from February 1st, 2025, and the currently existing Electricity Law enacted in 2004 (the “Current Electricity Law”) will be replaced by New Electricity Law thereafter.
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