Who’s Taking the “Hot Seat” at the $30 Million Company That Just Split From EVN?

The State Enterprise Capital Management Committee has appointed Mr. Nguyen Duc Ninh as the Acting Director of the National Electricity and Electricity Market Operating Company (NSMO) as per Decision No. 355, effective immediately.

Mr. Nguyen Duc Ninh will be the legal representative of NSMO as stipulated in its Organization and Operation Regulations.

Prior to this role, Mr. Ninh served as the Director of the National Power System Dispatch Center (A0), appointed by EVN in February 2020. In 2023, he was temporarily suspended from this position following localized power shortages in May and June. EVN clarified that the suspension was not a disciplinary action but rather to facilitate an inspection into the power supply situation.

Mr. Nguyen Duc Ninh has over 20 years of experience at the National Power System Dispatch Center, holding various positions including Engineer, Deputy Head, and Head of the Modality Department, as well as Deputy Director and Director.

On August 1st, the Prime Minister issued a decision to separate A0 from the Vietnam Electricity Group (EVN) and establish the NSMO under the State Enterprise Capital Management Committee. With a charter capital of VND 776 billion, the NSMO will be responsible for dispatching the national power system and managing electricity market transactions in accordance with the Law on Electricity and related legal regulations.

The NSMO will inherit A0’s workforce, including its management team, from EVN. Additionally, EVN is currently providing A0 with nearly $3 million in loans from the World Bank, which the NSMO will be responsible for repaying to EVN.

Furthermore, per Decision No. 753, the Prime Minister approved the transfer of state capital ownership representation rights in NSMO from the State Enterprise Capital Management Committee to the Ministry of Industry and Trade, in accordance with legal regulations.