The Prime Minister Decides to Separate the National Power System Dispatch Center from EVN

The Prime Minister has issued Decision No. 752, which will come into effect on August 1st, outlining procedures to separate the National Power System Dispatch Center (A0) from EVN to establish the National Power and Electricity Market Operating Company (NSMO) under the State Capital Management Committee.

Along with the separation from EVN, the Prime Minister also issued Decision No. 753, approving the transfer of state capital ownership rights in NSMO from the State Capital Management Committee to the Ministry of Industry and Trade after the completion of the separation and establishment of NSMO as per regulations.

As per the Prime Minister’s decision, NSMO will be responsible for dispatching the national power system and managing the electricity market. The company will invest in, manage, operate, maintain, and service the telecommunications and information technology infrastructure for the operation of the power system, dispatch of the electricity market, and renewable energy.

NSMO’s chartered capital is VND 776 billion. The supplement of chartered capital and the source of capital supplement for NSMO during its operation will be determined by the state capital owner’s representative based on the Law on Management and Use of State Capital Invested in Production and Business at Enterprises and other relevant legal documents.

The decision also states that NSMO will inherit A0’s workforce from EVN, including its management team, with A0’s leaders assuming corresponding leadership positions in NSMO.

In terms of the separation process, EVN will transfer the assets, rights, and obligations under A0’s management to NSMO at their current value, as reflected in EVN’s financial statements at the time of separation. EVN will adjust its capital and assets accordingly based on the value transferred to NSMO as per legal regulations.

Regarding the two loans under Agreement No. 4107-VN (Project for a New National Power System Dispatch Center) and Agreement No. 4711-VN (Information Infrastructure Project for a Competitive Power Generation Market), EVN will continue to be responsible for repaying the relending to the Authorized Relending Agency as per the signed relending contracts. NSMO is responsible for reimbursing EVN for the relending payments.

The Ministry of Finance will coordinate with the Authorized Relending Agency, EVN, and NSMO in collecting the relending debts. The Ministry of Industry and Trade is responsible for ensuring all necessary conditions are met to receive NSMO, including a mechanism to guarantee working capital for NSMO. The Ministry of Finance will provide input on NSMO’s financial management regulations and other relevant policies.

The Ministry of Labor, Invalids, and Social Affairs will work with NSMO’s state capital owner’s representative to determine the salaries of NSMO’s employees and managers, temporarily ranking them as Category I managers.

The People’s Committees of Hanoi, Ho Chi Minh City, and Da Nang are tasked with considering the allocation of land for the construction of independent headquarters for NSMO and the Regional Power System Dispatch Centers to ensure stable and long-term operations and security for the national power system dispatch and electricity market management.