Key changes to Vietnam’s power regulatory framework
Vietnam has recently issued a key circular and several decrees to guide the implementation on the Law on Electricity. The Law on Electricity came into effect on 1 February 2025.
This article provides a summary of the key principles set out in the following implementing instruments:
- Circular 12/2025/TT-BCT, which prescribes the tariff mechanisms and Vietnam Electricity power purchase agreement templates for power projects, and replaces its predecessor, Circular 07/2024/TT-BCT;
- Decree 56/2025/ND-CP, which sets out guidance on the national and provincial power plans, investment in the construction of electricity projects, and the bidding process to select investors for electricity projects;
- Decree 57/2025/ND-CP, which regulates the Direct Power Purchase Agreement mechanisms between renewable energy (“RE”) companies and large electricity consumers, and repeals its predecessor Decree 80/2024/ND-CP;
- Decree 58/2025/ND-CP, which regulates the development of RE and new energy (i.e. green hydrogen and green ammonia) and contains the regulatory framework for self-produced self-consumed energy projects; and
- Decree 61/2025/ND-CP, which sets out the conditions for the grant of power operation licences in respect of specified regulated activities, as well as the application processes for the procurement of power operation licences.
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