New solar power prices not incentive enough: Finance Ministry
The new solar power rates proposed by the Ministry of Industry and Trade (MoIT), much lower than the current average electricity retail price of VND1,864 (8 cents) a kWh, would erase all incentive to develop solar power over other sources, the Finance Ministry has said.
Under the proposed regulations, the fixed rates would only apply to projects that come online this year, which have already signed power purchase agreements and have begun construction before November 2019. The rates will apply for 20 years from the date each project comes into operation.
Anh Minh
