PM gives greenlight to equitisation of power-generating companies

Until 2018, the corporations will still be controlled by the EVN, PetroVietnam and Vinacomin but the shareholding ratio of these holding companies will be below the controlling level.

They will be considered to separate from the holding companies once their operation outcomes are announced after two years from equitisation. 

The PM assigned the Ministry of Industry and Trade (MoIT) to receive feedback to complete the project on restructuring the electricity sector during 2016-2020 with a vision to 2050. 

The PM said building a competitive electricity wholesale market and restructuring the power sector must ensure the goal of improving the business effectiveness of the sector while boosting transparency, equality, and healthy competitiveness amid the international integration. 

Measures to be taken must ensure sufficient electricity supply to all socio-economic activities, he added. 

Restructuring the electricity sector needs a roadmap suitable to the progress of the competitive electricity wholesale market while preparations should be made for the development of an electricity retail market. 

The sector must attract reasonable investment from society with the government keeping control over national electricity transmission and the construction and operation of large power plants. 

The PM also entrusted the MoIT to work with the EVN to review the equitisation of electricity corporations and their affiliates as well as the State management for the operation of the power sector in order to improve the efficiency of the work.