Mô hình thị trường điện và vấn đề cải cách thị trường điện việt nam

ERAV Electricity Regulatory Authority of Vietnam POWER MARKET DEVELOPMENTS IN VIETNAM 18 October, 2010 ERAV Electricity Regulatory Authority of Vietnam Contents Section - Vietnam power sector overview Section - Power sector development strategies Section 3: Competitiveness and affordability Section 1: Power sector overview ERAV Electricity Regulatory Authority of Vietnam 1.1 Existing National Grid As at 2009 Generation Capacity: 18,268 MW Generation: 84,750 GWh Consumption: 74,761 GWh • Hydro: 35.8% 6,548 MW • Coal and oil thermal: 20.9% 3,812 MW • Gas turbine (CCGT): 36.9% 6,747 MW • Diesel and small hydro: 2.6% 461 MW • Import from China: 3.8% 700 MW • • • • • Total length of lines: 500 kV: 3,410 km 220 kV: 5,602 km 110 kV: 12,448 km 6-35 kV: 135,371 km LV: 240,424 km 8,814 MVA 15,440 MVA 21,314 MVA 39,804 MVA Section 1: Power sector overview ERAV 1.2 Supply and Demand Electricity Regulatory Authority of Vietnam Capacity, generation and consumption from 1998-2009 35,000 90000 84750 30,000 80000 74197 74761 66612 70000 25,000 Import from China 65880 58781 Diesel and small hydro 60000 51854 46226 MW 40590 15,000 44860.1 35715 21526 23484 30000 Hydro 30228 25752 20000 22397 5,000 17725 19592 10000 0 1998 1999 2000 2001 2002 2003 2004 2005 2006 Year Oil Coal 34835 26457 10,000 40000 39596.2 30423 Gas turbine 50000 51295.5 GWh 20,000 58438.2 Consumption growth rate: 14%/year Installed capacity growth rate: 12%/year 2007 2008 2009 Electricity sale, GWh Generated, GWh Section 1: Power sector overview ERAV Electricity Regulatory Authority of Vietnam 1.3 Power Development Plan (Master Plan 6) Total installed capacity planned to 2020 140000 120000 100000 MW Import Small hydro and renewable energy Gas turbine and oil Coal Hydro and pump storage Pmax 80000 60000 40000 20000 06 07 08 09 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 20 20 20 20 20 20 20 20 20 20 20 20 20 20 20 20 20 20 20 20 - Growth rate: 15% (based case), Total capacity/Peak demand: 2010 : 21,400 / 16,000 (MW) 2015 : 55,500 / 29,500 (MW) 2020 : 107,300 / 54,400 (MW) - Additional generation: 40,000 MW in 2009-2015; 52,000 MW in 2016- 2020 Section 1: Power sector overview ERAV Electricity Regulatory Authority of Vietnam 1.4 Industry Structure Current power sector structure: Vertically integrated GENERATION TRANSMISSION, SCHEDULING AND DISPATCHING BOTs BOTs and andIPPs IPPs (32%) (32%) Power Power plants plants under underEVN EVN (68%) (68%) National National Load Load Dispatch Dispatch Center Center (NLDC) (NLDC) National National Power Power Transmiss Transmiss ion ion Corporati Corporati on (NPT) on (NPT) DISTRIBUTION AND RETAIL Electric Electric Power Power Trading Trading Company Company (EPTC) (EPTC) Power Power Compani Compani es es (5(5PCs) PCs) EVN EVN is holding company for: • Generation: equitized (EVN holds majority) or subsidiary power plants account for 68% of installed capacity • Scheduling and dispatching: dependent accounting unit • Transmission: dependent accounting unit • Distribution: independent accounting companies Section 1: Power sector overview ERAV Electricity Regulatory Authority of Vietnam 1.5 Challenges • Generation not keeping up with rapidly growing demand (~14% per annual) • Reasons: − Required investment in power sector, especially for generation, is far beyond EVN financial resource − Electricity pricing is not transparent and not reflecting costs; low prices unattractive for investors − The current vertically integrated structure cannot ensure generation investors confidence in a fair and efficient trading environment, fair and non discriminatory access to the grid, dispatch − Lack of clear mechanism for PPAs leads to delays and inefficiencies in negotiations and pricing, and lack of clear mechanisms for other generation investors PPAs to sell to EVN ERAV Electricity Regulatory Authority of Vietnam Contents Section - Vietnam power sector overview Section - Power sector development strategies Section 3: Competitiveness and affordability Section - Sector development strategies ERAV Electricity Regulatory Authority of Vietnam 2.1 Legal Framework Electricity Law (2005) stipulates: − Diversification in power sector investments, allowing participation of all economic sectors − Introduction of power market, step-by-step development of competitive generation, wholesale competitive, and retail competitive markets Power sector administration: − Ministry of Industry and Trade (MOIT) is the sector’s policy maker − Electricity Regulatory Authority of Vietnam (ERAV): Established in 10/2005 as an entity under MOIT, to conduct: Development and regulation of power markets Economic regulation (electricity pricing) Monitoring supply/demand balance to promote security, efficiency and conservation Licensing and Dispute resolution ERAV is the first and only infrastructure dedicated economic regulator in Vietnam Section - Sector development strategies ERAV Electricity Regulatory Authority of Vietnam 2.2 Power Market Development Roadmap Competitive Generation Market (VCGM) 2014 2011 Pilot Operation Electricity Wholesale Market Full Operation 2022 2016 Pilot Operation Electricity Retail Market Full Operation Pilot Operation 2024 Full Operation The preparation for the Competitive Power Market (CGM) is now in progress and conducted by ERAV Section - Sector development strategies ERAV Electricity Regulatory Authority of Vietnam 2.3 VCGM design • A cost-based pool (CBP) design has been selected as providing the best balance between the objectives of: o attracting investments o assuring power supplies and retail tariff stability o increasing competition and transparency in the power market o the CBP design draws on the experience of EVN’s pilot power market • A single buyer (part of EVN) purchases all generation • The CBP comprises a gross pool, with hourly clearing and day-ahead 11 bidding Major features are: o thermal generators are subject to a bid cap equal to variable costs o hydro generators are subject to a bid cap in a range around their water value (calculated by the system and market operator, SMO) o a market-clearing price (system marginal price, SMP) is set on an ex-post basis using an unconstrained schedule o contracts for differences are used, initially covering up to 90% of expected output, to stabilise prices for generators and customers Section - Sector development strategies ERAV Electricity Regulatory Authority of Vietnam 2.4 VCGM structure Section - Sector development strategies ERAV Electricity Regulatory Authority of Vietnam 2.5 VCGM participants Customers NON-PARTICIPANTS SPPs ([...]... late-2011 ERAV Electricity Regulatory Authority of Vietnam Contents Section 1 - Vietnam power sector overview Section 2 - Power sector development strategies Section 3: Competitiveness and affordability 16 Section 3: Competitiveness and affordability ERAV Electricity Regulatory Authority of Vietnam 3.1 Tariff Reforms • The main elements of Vietnam’s tariff policy are: - • Major tariff reforms were... development strategies ERAV Electricity Regulatory Authority of Vietnam 2.6 Investment and cost recovery in VCGM • A capacity payment is made to all generators included in the schedule plus a margin, in each daylight hour o the payment is calculated to cover the fixed costs of a new thermal generator that are not recovered from the energy market • Vietnam retains a generation investment master plan, which determine... expected output, to stabilise prices for generators and customers Section 2 - Sector development strategies ERAV Electricity Regulatory Authority of Vietnam 2.4 VCGM structure Section 2 - Sector development strategies ERAV Electricity Regulatory Authority of Vietnam 2.5 VCGM participants Customers NON-PARTICIPANTS SPPs ( ...ERAV Electricity Regulatory Authority of Vietnam Contents Section - Vietnam power sector overview Section - Power sector development strategies Section 3:... generation investors PPAs to sell to EVN ERAV Electricity Regulatory Authority of Vietnam Contents Section - Vietnam power sector overview Section - Power sector development strategies Section 3:... infrastructure dedicated economic regulator in Vietnam Section - Sector development strategies ERAV Electricity Regulatory Authority of Vietnam 2.2 Power Market Development Roadmap Competitive