Competitive power market key to promoting renewables
Vietnam is prioritising developing a competitive electricity market, which is vital to promoting renewable energies, said Head of the Central Institute for Economic Management (CIEM) Nguyen Dinh Cung.
Hanoi (VNA) – Vietnam is prioritising developing a competitiveelectricity market, which is vital to promoting renewable energies, said Headof the Central Institute for Economic Management (CIEM) Nguyen Dinh Cung.
He made thestatement at a CIEM seminar in Hanoi onNovember 28, where participants discussed the growth of renewable energies in concert with acompetitive power market.
According to Pham DucChung, a CIEM member, renewable energy producers in Vietnam enjoy incentives intax, land leasing prices and loans.
However, the dependency ofelectricity firms on State support has led to a power market without competition,making it hard to attract investment in renewables.
To address theseshortcomings, Chung stressed continuing a complete overhaul of the Electricityof Vietnam (EVN) as planned with a focus on restructuring its executive boardto boost independence among EVN members.
Improving the capacity of theElectricity Regulatory Authority and Competition Authority is also necessary,he said.
Nguyen Van Vy, Head of theVietnam Energy Association, proposed preferential investment credits for renewableprojects.
He also suggested issuingan environmental tax on the use of fossil fuels, adding that the fees should bechanneled into developing sustainable energies.-VNA
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Illustrative image (Source: VNA) 
