With more than 91 per cent of delegates in favour, the amended Electricity Law was passed by the National Assembly in November and will take effect on February 1.

Electricity legislation to speed up schemes, photo Le Toan

The law focuses on amending and supplementing regulations on electricity development planning, investment in construction of electricity projects, and development of renewable and new energy. As the most comprehensive legal framework governing the sector, the law is expected to play an important role in shaping the industry’s future and could be a game changer for the energy industry in Vietnam.

Nguyen Thai Son, vice president of the Vietnam Energy Association, said that the passing of the Electricity Law has great significance for the development of the electricity industry, creating a legal corridor for electricity initiatives to develop faster

“It will contribute to improving state management, aiding decentralisation between the state, levels of the government, ministries, sectors, and localities, in accordance with the needs of the electricity industry to respond more frequently to improvements in sci-tech,” he said.

Son said that with the recent double-digit growth in electricity demand, Vietnam needed a large, stable power source that can meet the rapid growth of load, both meeting the target of reducing emissions and diversifying the power source structure. Therefore, returning to research on nuclear power is necessary.

“Nuclear power is a clean energy source, while the use of coal and natural gas pollutes the environment and contributes to increasing CO2 emissions. Nuclear power does not emit CO2 directly, helping to reduce climate change and air pollution, so nuclear power will contribute to achieving carbon neutrality as the target by 2050,” said Son.

Experts estimated that the time needed to complete the 500kV line 3, spanning 500km from Quang Trach to Pho Noi, was 3-4 years. However, to meet the demand for electricity supply, progress is being carried out at lightning speed. After only half a year of implementation, the line has taken shape, marking a new milestone for the electricity industry.

Dang Hoang An, chairman of the Board at Vietnam Electricity, said that the transmission line was assigned to National Power Transmission Corporation as the investor. These are power transmission ventures that play a particularly important role in increasing the stable reserve on the north-central interface, supplementing capacity from the north-central region to the northern region.

“The success of the project is a clear demonstration of the power of solidarity and coordination among sectors and communities,” An said.

The numbers speak volumes about the project’s scale, as it required excavation of 2.54 million cubic metres of earth and rock, the use of 700,000cu.m of concrete, 70,000 tonnes of foundation steel, and the erection of almost 1,200 steel columns with a total weight of 140,000 tonnes. This included the use of nearly 14,000km of conductors, lightning protection wires, and optical cables for hundreds of anchorages.

Speaking at a conference summarising the investment and construction of the 500kV line 3 in December, Prime Minister Pham Minh Chinh emphasised its significance for national energy security, preventing incidents and power shortages, meeting the country’s development requirements

Chinh said lessons learned from the record-breaking undertaking would be of great value in future national projects, especially as Vietnam entered a new era with important infrastructure, such as the North-South high-speed railway and the restart of the Ninh Thuan nuclear power plant.

“The speed of 500kV line 3 implementation provides evidence that the Vietnamese people can not only master technology but also their own destiny. This is a symbol of the will and ability of the nation to rise and overcome all challenges to go further on the path of modernisation and international integration,” the PM said.

Meanwhile, at a conference on ensuring adequate electricity supply to 2030 in early January, the Ministry of Industry and Trade (MoIT) said that in the offshore wind power sector, the Power Development Plan VIII (PDP8) targets 6,000MW in 2026-2030, and the MoIT is currently developing a mechanism for selecting investors and survey units, as well as determining a list of projects to submit for approval.

“On February 28, the adjusted PDP8 will be available and immediately after that, the MoIT will develop and announce the adjusted plan, which will provide a lot of room for investors. The ministry will also preside over and coordinate with the Ministry of Natural Resources and Environment to help investors complete procedures for conducting surveys at sea, including wind and seabed surveys,” said Minister of Industry and Trade Nguyen Hong Dien.

The survey is expected to take at least 12 months, so the ministry requested the MoIT’s Electricity and Renewable Energy Department to report to the ministry’s leaders to submit to the government in January. If the government agrees, it will be immediately handed over to investors to implement the following month to keep up with the survey progress.

“The deadline for submitting the government policy for investors to enjoy the price mechanism must be extended to 2032 or 2034, because offshore wind power takes a long time to survey,” he added.