Vietnam''s Power Market Shift: What 30-Minute
Vietnam''s power market operates on a 30-minute trading system, with prices updated every half hour. This Full Market Price (FMP) reflects the real
Vietnam's power market operates on a 30-minute trading system, with prices updated every half hour. This Full Market Price (FMP) reflects the real-time cost of power and is used to settle payments in the wholesale market. The FMP includes: System Marginal Price (SMP) – a dynamic price based on supply and demand.
In May 2025, and Vietnam's average electricity price per kWH was set at VND 2,204.07 or about US $0.084, excluding value-added tax (VAT), per Decision 599/QD-EVN. This was an increase from an average electricity price per kWH of VND 2,103.1159 or about US $0.0836, excluding value-added tax (VAT), per Decision 2699/QD-BCT, from October 2024.
Vietnam's move toward a competitive power system took a big step forward with the launch of its Wholesale Electricity Market (VWEM) in 2019. In this market, state and private generators sell electricity through a centrally coordinated system. Prices are based on real-time supply and demand, bringing more transparency and efficiency to the sector.
Vietnam issued a decree on Direct Power Purchase Agreements on July 3, 2024, clearing the way for businesses to buy power directly from power generators. The decree was a long time coming and has been touted as a critical component to developing Vietnam's electricity network.
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