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Circular No. 31/2011/TT-BCT of August 19, 2011, providing for the adjustment of electricity sale prices according to basic input parameters
11/11/2011
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THE MINISTRY OF INDUSTRY AND TRADE

 

Circular No. 31/2011/TT-BCT of August 19, 2011, providing for the adjustment of electricity sale prices according to basic input parameters

 

Pursuant to the Government’s Decree No. 189/2007/ND-CP of December 27, 2007, defining the functions, tasks, powers and organizational structure of the Ministry of Industry and Trade, and Decree No. 44/2011/ND-CP of June 14, 2011, amending and supplementing Article 3 of Decree No. 189/2007/ND-CP of December 27, 2007;

Pursuant to the December 3, 2004 Electricity Law;

 

Pursuant to the Government’s Decree No. 105/2005/ND-CP of August 17, 2005, detailing and guiding a number of articles of the Electricity Law; Pursuant to the Prime Minister’s Decision No. 24/2011/QD-TTg of April 15, 2011, on the adjustment of electricity sale prices under the market mechanism;

 

The Ministry of Industry and Trade provides for the adjustment of electricity sale prices according to basic input parameters as follows: Chapter I

 

GENERAL PROVISIONS

 

Article 1. Scope of regulation and subjects of application 1. This Circular guides the adjustment of electricity sale prices according to basic input parameters prescribed in the Prime Minister’s Decision No. 24/2011/QD-TTg of April 15, 2011, on the adjustment of electricity sale prices under the market mechanism.

 

2. This Circular applies to units which adjust electricity sale prices according to basic input parameters and units which supply fuel price parameters for the adjustment of electricity sale prices.

 

Article 2. Interpretation of terms

 

In this Circular, the terms below are construed as follows: 1. Electricity production and business costs not yet fully accounted into the electricity sale price are reasonable and regular electricity production and business expenses arising in previous years not yet accounted into the current average electricity sale price.

 

2. Computed average electricity sale price is the average electricity sale price computed and examined by Electricity of Vietnam according to fluctuations of basic input parameters by the method prescribed in Clause 1, Article 4 of this Circular.

 

3. Commercial electricity output is the total electricity output sold by Electricity of Vietnam to end-users and electricity-retailing units.

 

Chapter II

 

ELECTRICITY SALE PRICE ADJUSTMENT MECHANISM Article 3. Principles of determination of basic input parameters

The electricity sale price shall be computed and examined every month, taking into account fluctuations of basic input parameters against those used for determining the current electricity sale price, according to the following principles:

 

1. The computing exchange rate is the USD exchange rate calculated on an average daily basis from the date of the last electricity sale price adjustment to the 15th day of the computing month (or the preceeding working day if the 15th day falls on a week-end or holiday), which is the

USD selling rate at the closing hour of the headquarters of the Joint-Stock Bank for Foreign Trade of Vietnam.

 

2. The computing fuel price is the daily average fuel price calculated from the date of the last electricity sale price adjustment to the 15th day of the computing month (or the preceeding working day if the 15th day falls on a week-end or holiday), with the coal price being the domestic coal price for electricity generation at the location of coal delivery publicized by Vietnam National Coal, Mineral Industries Holding Corporation Limited; the gas price for the Ca Mau power plant calculated by PetroVietnam Gas Corporation according to international oil prices; the prices of gas from other sources (Nam Con Son and Cuu Long) prescribed by the Prime Minister at the time of computing electricity sale prices under contracts; and the oil price determined according to the oil retail prices in the domestic market, publicized by Vietnam National Petroleum Corporation. 3. The generated electricity output structure of previous months counting from the last adjustment with the total output from the 15th day to the end

of the month projected for computing.

 

Article 4. Sequence of electricity sale price adjustment

 

1. The average electricity sale price shall be computed and examined when basic input parameters fluctuate as compared to those used for computing the current electricity sale price according to the following formulas....

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