A competitive market, to be set up on a pilot basis by 2011, should ensure savings across the board – in generation, transmission, and distribution – to ensure reasonable prices for consumers, he said.

The Electricity of Vietnam Group should give priority to developing a transmission network and enhancing the capability of its National Power Transmission Corporation to ensure they can meet the needs of power companies, he said.

He also said the information technology infrastructure required for the market should be in place by the first quarter of 2011.

EVN's power companies now account for 60 percent of total electricity generated in the country, with independent producers, both private and foreign, accounting for the rest.

The Ministry of Industry and Trade issued a circular on May 10 on the operation of the electricity market. The market will comprise companies that buy and sell electricity, generate electricity, operate the supply network, and manage the market itself.

The circular also requires all licensed power plants with a capacity of 30MW or above and beyond to join the market.