Decision 1260/QD-BCT 2024 electricity generation price bracket for combined cycle gas turbine thermal power plants using liquefied natural gas

DECISION

Approving the electricity generation price bracket for combined cycle gas turbine thermal power plants using liquefied natural gas

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THE MINISTER OF INDUSTRY AND TRADE

Pursuant to the Electricity Law dated December 03, 2004, and the Law Amending and Supplementing a Number of Articles of the Electricity Law dated November 20, 2012;

Pursuant to the Government’s Decree No. 96/2022/ND-CP dated November 29, 2022, defining the functions, tasks, powers and organizational structure of the Ministry of Industry and Trade;

Pursuant to the Government’s Decree No. 137/2013/ND-CP dated October 21, 2013, detailing a number of articles of the Electricity Law and the Law Amending and Supplementing a Number of Articles of the Electricity Law;

Pursuant to the Minister of Industry and Trade’s Circular No. 57/2014/TT-BCT dated December 19, 2014, providing methods, and procedures for, formulation and promulgation of the electricity generation price bracket; Circular No. 31/2022/TT-BCT dated November 8, 2022, amending and supplementing a number of articles of the Minister of Industry and Trade’s Circular No. 57/2014/TT-BCT dated December 19, 2014, providing methods, and procedures for, formulation and promulgation of the electricity generation price bracket; and Circular No. 57/2020/TT-BCT dated December 31, 2020, on providing method to determine electricity generation prices and power purchase agreement;

At the proposal of the Director of the Electricity Regulatory Authority of Vietnam.

DECIDES:

‎‎Article 1. To promulgate the electricity generation price bracket for combined cycle gas turbine thermal power plants using liquefied natural gas (LNG) in 2024

The electricity generation price bracket for combined cycle gas turbine thermal power plants using LNG applicable to the negotiation on prices for power purchase agreements of power plants specified at Point a, Clause 2, Article 1 of the Minister of Industry and Trade’s Circular No. 57/2014/TT-BCT dated December 19, 2014, providing methods, and procedures for, formulation and promulgation of the electricity generation price bracket is provided as follows:

1. The electricity generation price bracket applicable to LNG-fired thermal power plants in 2024: 0 - 2,590.85 VND/kWh (excluding value-added tax). In which, the ceiling price is 2,590.85 VND/kWh.

2. Parameters used for calculating the ceiling price of the electricity generation price bracket applicable to LNG-fired thermal power plants in 2024 are as follows:

- Net capacity: 1,579,125 kW.

- Net heat-consuming rate at 85% load: 6,330.2 BTU/kWh.

- LNG price (excluding value-added tax, cost of storage, re-gasification and distribution after re-gasification): 12.9792 USD/million BTU.

- Exchange rate: 24,520 VND/USD.

‎‎Article 2. Organization of implementation

Based on the electricity generation price bracket specified in Article 1 of this Decision, Vietnam Electricity shall negotiate with electricity-generating units on electricity purchase and sale prices on the basis of compliance with the Ministry of Industry and Trade’s regulations on methods of determining electricity generation prices, and management of construction investment costs in accordance with the construction law.

‎‎Article 3. Implementation provisions

1. This Decision takes effect on the date of signing.

2. The Chief of the Office, Director of the Electricity Regulatory Authority of Vietnam, Director of the Department of Legal Affairs, Chief Inspector, heads of units affiliated to the Ministry of Industry and Trade, the General Director of the Vietnam Electricity, and heads of related electricity-generating units shall implement this Decision./.