The company with a registered capital of 776 billion VND operating the electricity market has been transferred to the Ministry of Industry and Trade.

According to the decision, NSMO Company is a state-owned enterprise, with the State holding 100% of its charter capital of 776 billion VND. This company will continue its role as the national power system dispatching agency, managing electricity market transactions as stipulated in the Electricity Law and related legislation.

The company has a registered capital of 776 billion VND.

The National Power System and Electricity Market Operating Company Limited will also take over the existing workforce of the National Power System Dispatch Center from EVN. This includes taking over the existing management structure of A0 by assigning A0's leadership and management staff to corresponding leadership positions at NSMO; inheriting all rights, obligations, and legitimate benefits of the National Power System Dispatch Center currently held by A0 and EVN in relation to A0 according to legal regulations, including loans under signed agreements.

After the transfer, the Ministry of Industry and Trade will be responsible for ensuring the stable, continuous, efficient, and safe operation of NSMO and the power system. Relevant agencies will study and consider, within their authority, ensuring sufficient charter capital, supplementing investment capital, and fulfilling loan obligations, etc.

The State Capital Management Committee also announced the decision to establish NSMO Company; the decision on the transfer and appointment of Mr. Nguyen Duc Cuong - a member of the Board of Directors of EVN - as chairman of NSMO; and the decision on assigning the general director position of NSMO to Mr. Nguyen Duc Ninh - director of Center A0.

Mr. Dang Hoang An, Chairman of EVN, stated that the National Power System Dispatch Center has a 30-year history of formation and development. The Center's nhiệm vụ is to directly manage power plants with a capacity of over 30MW and the transmission system from 110kV to 500kV voltage levels, successfully operating the competitive electricity generation market.

Improve the operating mechanisms of NSMO.

Mr. Nguyen Hoang Anh, chairman of the State Capital Management Committee at Enterprises, believes that the separation of A0 and the establishment of a company, transferring it to the Ministry of Industry and Trade, is not only a change in organizational structure but also a major step forward and a sign of maturity for Vietnam's electricity industry.

Recognizing the challenges of increasing electricity demand, increasingly stringent energy security requirements, and the global energy shift, Mr. Hoang Anh requested the company to continuously improve operational efficiency and apply science and technology to help ensure energy security…

Meanwhile, Mr. Nguyen Hong Dien, Minister of Industry and Trade, stated that ensuring the operation of the national power system is crucial, guaranteeing fairness and impartiality in the operation of the power system and the electricity market. Therefore, the establishment of NSMO and its transfer to the Ministry of Industry and Trade is an objective and inevitable requirement for operating a competitive electricity market and restructuring EVN.

To ensure the National Power System and Electricity Market Operation Company operates effectively after the transfer and fulfills its role in guaranteeing energy security, Mr. Dien requested NSMO and EVN to promptly submit relevant documents on system operation and the electricity market. He also requested the completion of documents ensuring NSMO's stable and efficient operation, with the understanding that policies may be improved but not inferior to those before.

The plan includes establishing a working group related to system operation, electricity market, approving dispatching prices and operating the electricity market to cover NSMO's operating costs; transferring financial assets to the parties involved; allocating land for the construction of the operational headquarters; and developing internal regulations and procedures.