ELECTRICITY LAW (AMENDED) 2024: OPPORTUNITIES FOR RENEWABLE ENERGY | VIETNGA ENERGY

On November 30, 2024, the National Assembly passed the Electricity Law (amended), marking a significant milestone in Vietnam's energy sector. This new law not only aims to protect the environment and drive energy transition but also commits to achieving net zero emissions by 2050.

Key Highlights of the Electricity Law (Amended)

The Electricity Law (amended) includes 09 chapters and 81 articles, with the following main contents:

• Development of Renewable and New Energy Electricity: The law adds a new chapter focusing on the development of renewable energy, especially self-produced and self-consumed electricity and rooftop solar power.

• Electricity Development Planning: It specifies unique requirements for the National Electricity Development Plan and electricity grid development plans within provinces.

• Electricity Pricing: It introduces a pricing mechanism tailored for different customer groups and charging stations for green vehicles.

Opportunities for VIETNGA ENERGY

With these legal changes, VIETNGA ENERGY sees numerous opportunities to expand and enhance its service quality:

• Energy Auditing & Energy Management Systems: The new law encourages the adoption of advanced energy management models, enabling VIETNGA ENERGY to offer more effective consulting and energy auditing services.

• Greenhouse Gas Inventory: With the commitment to net zero emissions by 2050, the demand for greenhouse gas inventory and reduction solutions will increase, creating potential for our services.

• Rooftop Solar Power: The promotion of self-produced and self-consumed electricity, particularly rooftop solar power, presents opportunities for VIETNGA ENERGY to expand its consulting, design, and installation services.

Challenges and Development Directions

Alongside opportunities, the new law also presents some challenges:

• Compliance with New Regulations: VIETNGA ENERGY must quickly grasp and comply with new regulations to ensure its services remain aligned and high-quality.

• Enhancing Competitiveness: As the renewable energy market expands, competition will intensify. Therefore, we must continuously improve service quality and innovate to meet customer demands.

Conclusion

The Electricity Law (amended) 2024 brings both opportunities and challenges for VIETNGA ENERGY. With our expertise and commitment to the energy sector, we are confident in leveraging these opportunities while overcoming challenges to continue accompanying our clients on the path to sustainable development.

VIETNGA ENERGY
Efficiency – Sustainability – Savings