The Ministry of Industry and Trade is drafting a Resolution to address challenges in national energy development for the 2026-2030 period.
VinEnergo, part of the Vingroup ecosystem, has provided feedback on the draft. They note that it lacks provisions allowing retail electricity providers in residential areas, urban zones, commercial hubs, and similar models to participate in Direct Power Purchase Agreements (DPPA).
VinEnergo highlights that many residential and urban areas have significant concentrated electricity demand. However, supply remains entirely dependent on EVN, with no mechanism for retail providers associated with urban developers to enter the competitive electricity market.
Incorporating regulations for retail electricity providers in residential and urban areas is essential. This reflects practical needs, aligns energy infrastructure with urban development, ensures transparency in supply management, encourages private investment in electricity infrastructure, enhances competition and efficiency, and protects residents’ legal interests.
Therefore, VinEnergo proposes adding provisions for retail electricity providers in residential areas, urban zones, and similar models.
Specifically, “Retail electricity providers in residential areas, urban zones, commercial hubs, services, and similar models, as defined by competent authorities, may directly participate in DPPA if they meet the following conditions: Developers of residential areas, urban zones, commercial hubs, services, and similar models owning the electrical grid are permitted to directly retail to users within their respective areas.”
The Ministry of Industry and Trade has responded to this proposal. While expanding consumer choice in electricity providers is a positive trend, further assessment is needed regarding clean energy demand among urban residential customers (linked to REC certificates) and alignment with Vietnam’s retail electricity market development roadmap.
The current DPPA mechanism is an initial step toward an open retail electricity market.
Thus, the Ministry suggests considering the expansion of competitive mechanisms like DPPA for retail providers only after the competitive retail electricity market stabilizes and robust legal tools are in place to protect consumers.
VinEnergo, established on March 12, 2025, is headquartered at Symphony Office Building (Hanoi), specializing in electricity production and equipment. Its shareholder structure includes billionaire Pham Nhat Vuong (71%), his eldest son Pham Nhat Quan Anh (5%), and second son Pham Nhat Minh Hoang (5%). Vingroup holds the remaining 19%.
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