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Vietnam contemplates a competitive energy market

The Vietnamese government has approved a master plan for the development of an electricity market in the country for the next 20 years. The plan will be implemented in three phases – the provision of a competitive supply market by 2015, application of a wholesale business model between 2015 and 2022, and a fully competitive retail market after 2024.

The plan will allow any individual or organisation with appropriate qualifications to establish a retail electric company, buying power from suppliers and selling direct to customers. The country’s main utility is Electricity of Vietnam (EVN), which is in a monopoly position despite the existence of several small suppliers.