CIRCULAR

REGULATION ON OPERATION OF COMPETITIVE GENERATION MARKET

Pursuant to Decree No. 95/2012/ND-CP of November 12, 2012 of the Government defining the functions, tasks, powers and organizational structure of the Ministry of Industry and Trade;

Pursuant to Electricity Law dated December 03, 2004;

Pursuant to Decision No. 26/2006/QD-TTg dated January 26, 2006 by the Prime Minister on the approval roadmap, the conditions of formation and development of the electricity market levels in Vietnam;

At the proposal of the Director of Department of Electricity Regulation;

The Minister of Industry and Trade issues Circular on operation of competitive generation market.

Chapter I

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Article 1. Scope of regulation

This Circular provides for operation of the competitive generation market (hereinafter referred to as electricity market) and the responsibility of the units involved in the electricity market.

Article 2. Subject of application

This Circular applies to units involved in electricity market as follows:

1. Unique wholesaling unit

2. Generating unit

3. Electricity system and market operating unit.

4. Power transmission unit.

5. Power metering data management unit.

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Article 3. Explanation of term

In this Circular, the terms below are construed as follows:

1. Price quotation is the offer to sell electricity on the market of each set handed in to electricity system and market operating unit and under the form of price quotation specified in this Circular.

2. Scheduling price quotation is the price quotation approved by the electricity system and market operating unit for day and hour-ahead mobilization schedule.

3. Payment list is a calculation of the payments for power plant in the electricity market made by the electricity system and market operating unit for each trading day and each payment cycle.

4. Interference in electricity market is the action to change the normal operation mode of the electricity market that unit operation of the electricity system and electricity market must be applied to handle the situations specified in Clause 1, Article 57 of this Circular.

5. Group offer is the offering mechanism when a representative unit carries out the offer for the whole group of ladder hydropower plant.

6. Full load cost is the variable cost of generating set when operating at full load mode, calculated in dong / kWh.

7. Transaction cycle is the cycle of the calculation of electricity price in the electricity market over a period of 01 hour from the first minute of each hour.

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9. Announced capacity is the largest available capacity of generating set announced according to the timetable market by the offering unit or the electricity system and market operating unit and generating unit having signed contract of auxiliary services supply.

10. Moderate capacity is the capacity rate of the generating set actually mobilized in the transaction cycle power system operation and actual deposit market in the transaction cycle by the electricity system and market operating unit.

11. Capacity of hour-ahead mobilization is the capacity rate of generating set expected to be mobilized for the first hour in the schedule of hour-ahead mobilization.

12. Capacity of day-ahead mobilization is the capacity rate of generating set expected to be mobilized for transaction cycles in the schedule of day-ahead mobilization according to the biding scheduling result.

13. Incrementally generated capacity is the difference capacity between moderate capacity and arranged capacity in the schedule of market price calculation of the generating set.

14. Payment capacity is the capacity of the set in the schedule of hour capacity and is paid with market capacity price.

15. Auxiliary services are the services of frequency regulation, rotation backup, fast start backup, cold backup, operation to be generated due to constraint of power system security, voltage regulation and black start.

16. Incrementally generated power is the power of generating set due to be mobilized corresponding to the Incrementally generated capacity.

17. Price offering unit is the unit which shall directly submit a quotation in the electricity market, including power generating units or power plants that are registered for direct pricing offer and the representative pricing offer unit for group of ladder hydropower plants.

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19. Generating unit is the unit possessing one or a lot of power plants taking part in electricity market and signing power sale and purchase contract

20. Generating unit of indirect transaction is the generating unit having power plant and not entitled to make pricing offer directly in the electricity market.

21. Generating unit of direct transaction is the generating unit having power plant and entitled to make pricing offer directly in the electricity market.

22. Power metering data management unit is a unit providing, installing, managing operation of system of gathering, processing and storing power metering data and information transmission line in service of electricity market.

23. Power transmission unit is a power unit licensed to operate in the area of power transmission and responsible for management and operation of the national transmission grid.

24. Electricity system and market operating unit is a unit directing and controlling the process of power generation, power transmission and distribution in national electricity system and running transactions on electricity market.

25. Market capacity price is the price level for a unit of active capacity determined for each transaction cycle applied to calculate payment of capacity to the generating units in the electricity market.

26. Floor price of quotation is the lowest price level which the offering unit is permitted for offer to a generating set in day-ahead quotation.

27. Market power price is the price level for a unit of power unit defined for each transaction cycle, used to calculate payments for power generating units in the electricity market.

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29. Ceiling price of quotation is the highest price level which the offering unit is permitted for offer to a generating set in day-ahead quotation.

30. Ceiling price of electricity market is the rate of highest market power price determined for each year.

31. Water value is the expected marginal cost to calculate the amount of water stored in the reservoir used to generate power in lieu of other sources of thermal power in the future, to be converted to a unit of power.

32. Performance degradation coefficient is the performance degradation index of the generating set over the operating time.

33. Yearly or monthly average load factor is the ratio between the total power output generated in 01 year or 01 month and the product of total capacity output set with capacity with a total number of calculation hours of yearly or monthly load capacity.

34. Electricity market information system is the system of equipment and data base in service of management and exchange of information on electricity market and is managed by the electricity system and market operating unit

35. Power sale and purchase contract is a a written agreement of power sale and purchase between the unique wholesaling unit and generating or power trading units with foreign countries.

36. Power sale and purchase contract for difference is the power sale and purchase agreement signed between unique wholesaling unit with the generating unit of direct transaction under the form issued by the Ministry of Industry and Trade.

37. Default interest rate is the interest rate is calculated by non-term interest rate of Vietnam dong on the interbank market at the time of payment.

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39. Non-binding schedule is the orderly arrangement of mobilization of the generating sets according to the method of minimizing power purchasing cost not taking into account the technical constraints in the power system.

40. Capacity schedule is scheduled by the electricity system and market operating unit after the operation to determine the payment capacity in each transaction cycle.

41. Hour-ahead mobilization schedule is the expected mobilization schedule of sets for power generation and supply of auxiliary services to the transaction cycle ahead and three consecutive transaction cycles made by the electricity system and market operating unit.

42. Day-ahead mobilization schedule is the expected mobilization schedule of sets for power generation and supply of auxiliary services to the transaction cycles of the transaction day ahead made by the electricity system and market operating unit.

43. Schedule of market power price calculation is the one made by the electricity system and market operating unit after the current transaction day to determine market power price for each transaction cycle.

44. Electricity market simulation model is a system of simulation softwares mobilizing the generating sets and calculating the market power price used by the electricity system and market operating unit in the yearly, monthly and weekly operation planning.

45. Water value calculation model is a system of hydro-thermal optimization softwares to calculate the water value used by the electricity system and market operating unit in the yearly, monthly and weekly operation planning.

46. Limited water level is the lowest upstream water level of the hydroelectric reservoir at the end of each month of the year or at the end of each week of the month calculated and announced by the electricity system and market operating unit.

47. Year N is the current year of operation of the electricity market, which is calculated according to calendar year.

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49. Transaction day is the day of the electricity market transaction activities, from 0h00 to 24h00 daily.

50. BOT power plant is a power plant invested in the form of Build-Operate-Transfer through contract between investor and competent state agency.

51. Best new power plant is a thermal power plant put into operation with the lowest average generation price calculated for the year ahead and the price of electricity sale and purchase contract agreed based on generation price range for standard power plant issued by the Ministry of Industry and Trade. Best new power plant shall be selected annually for use in the calculation of market capacity.

52. Multi-objective strategic hydropower plant is the large hydropower plants having an important role in terms of society, economy, national defense and security exclusively built and operated by the state.

53. Group of ladder power plants is a set of hydropower plants, in which the amount of water discharged from the reservoir of higher ladder hydropower plant accounting for all or most of the water volume flowing to reservoir of the lower hydropower plant and between these two power plants there is no regulating reservoir greater than 01 week.

54. Mobilization scheduling software is a software system that the electricity system and market operating unit uses to prepare hour and day-ahead mobilization schedule for the generating sets in the electricity market.

55. System sub-loading is the total power output of the whole electrical system converted to the terminals of the generating sets and imported power output in a transacton cycle minus the output of the poewer plants with capacity of less than or equal to 30 MW not participating in electricity market.

56. Metered output is the power to be measured of the power plant at the location of measurement.

57. Hourly contract output is the power output allocated from the monthly contract output for each transaction cycle and paid under the sale and purchase contract for difference.

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59. Monthly contract output is the power output allocated from yearly contract output for each month.

60. Yearly planning output is power output of pwoer plant expected to be mobilized in the year ahead.

61. Monthly planning output is the power output of power plant expected to be mobilized in months of a year.

62. Heat loss capacity is the amount of consumed heat energy of the set or power plant to produce one power unit.

63. Binding generation payment is the payment which the generating unit receives for the increased amount of power generation.

64. Electricity market participants are units engaged in transaction activities or providing services in the electricity market as prescribed in Article 2 of this Circular.

65. Lack of capacity is a situation when the total announced capacity of all the generating units is less than the subloading demand of subloading of forecasting system in a transaction cycle.

66. Security information is the confidential information as prescribed by law or by agreement between parties.

67. Market information is all data and information related to the operation of the electricity market.

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69. Mobilization order is the result of power range arrangement in the quotation on the principle of non-binding scheduling.

70. Excessive capacity is the situation when the total amount of capacity offered at the floor price of the generating unit of direct transaction and capacity expected to be mobilized of the power plants of generating units of indirect transactions and announced by the electricity system and market operating unit in a transaction cycle larger than the subloading of forecasting system.

71. Total calculation hours of yearly loading coefficient is the total number of hours of the year N for the sets put into commercial operation since year N-1 and earlier or the total number of hours from the time of commercial operation of generating set until the end of the year for generating sets put into commercial operation in year N, minus the repair time of the generating set according to the approved plans in year N.

72. Total calculation hours of monthly loading coefficient is the total number of hours of month M for sets put into commercial operation since lmonth M-1 and earlier or the total number of hours from the time of commercial operation of the generating set until the end of month for generating sets put into operation in the month M, minus the repair time of the generating unit according to the approved plan in month M.

73. Slow startup set is the one unable to start and connect to grid in a time of less than 30 minutes.

Chapter II

REGISTRATION FOR ELECTRICITY MARKET PARTICIPATION

Article 4. Responsibility for electricity market participation

1. Power plant having electricity operation license in the field of generation, with an installed capacity greater than 30 MW connected to the national electricity system, excluding power plants specified in Clause 2 of this Article must participate in electricity market.

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a) BOT power plants;

b) Power plants using renewable energy not as hydropower;

c) Power plants in the industrial zone only sell a portion of the output to the national electricity system and do not determine long-term electricity selling plan.

3. Prior to November 1 in year N-1, the unit operating power system and electricity market shall make a list of power plants with installed capacity larger than 30 MW not participating in the market, the units indirectly participating in electricity market in year N and submit it to the Department of electricity regulation for approval.

4. The power plants participating in electricity market are responsible for investment and improvement of the equipment system for the connection to the electricity market information system, SCADA / EMS system and power metering system to meet the operation requirements of the electricity market.

Article 5. Dossier of electricity market participation registration

1. Generating units possessing power plants specified in Clause 1, Article 4 of this Circular are responsible for submission of dossier of electricity market participation registration for each power plant.

2. The dossier comprises:

a) Registration for electricity market participation specifying name, address of the generating unit and power plant.

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c) Acceptance documents to put into operation equipment system for the connection to the electricity market information system, SCADA / EMS system and power metering system;

d) Other necessary information as required by the electricity system and market operating unit.

3. In case the generating unit has power plant put into commercial operation but not registered to participate in the electricity market for that power plant, within 60 days from the time the power plant is granted electricity operation license for commercial operation, the electricity system and market operating unit shall continue to schedule and announce capacity mobilization diagram for this power plant and this plant is temporarily paid the full actual output generated in the payment cycle at a price equal to 90% of the price in the power sale and purchase contract signed between the two parties.The difference amount (10% remaining) shall be settled in the first month's payment cycle when the plant directly participates in price offering in the electricity market.

Article 6. Approval of dossier of electricity market participation registration

1. Within 10 working days from the date of receipt of valid dossier, the electricity system and market operating unit is responsible for assessing and submitting it to Department of electricity regulation for approval.

2. In case of invalid dossier, within 05 working days from the date of its receipt, the electricity system and market operating unit must have a written request to the generating unit for supplementation and completion of dossier.

3. Within 05 working days from the date of receipt of written report of the electricity system and market operating unit, the Department of electricity regulation is responsible for issuing approval decision and notifying the electricity system and market operating unit in order to put the power plant into the list of electricity market participation.

4. Within 05 working days from the date when the power plant is allowed to participate in electricity market, the generating unit shall register with the electricity system and market operating unit on the susbject offering price in electricity market (the generating unit or power plant).

Article 7. Information of electricity market participants

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2. The electricity system and market operating unit shall store registration information and update changes on registration information of electricity market participants.

3. The electricity market participants shall notify the electricity system and market operating unit upon changes of registered information.

4. The electricity system and market operating unit shall publicize registration information of the electricity market participants and the changed registration information.

Article 8. Suspension and restoration of the right to participate in electricity market of power plant.

1. The power plant is suspended the right to participate in electricity market in the following cases:

a) Failing to fully implement the provisions of Clause 4, Article 4 of this Circular;

b) Having one of the following acts:

- Failing to provide information or provide accurate information to the planning for electricity market operation and mobilization schedule of sets in the power system;

- Making agreement with the electricity system and market operating unit or other generating units in the price offering for mobilization schedule not as prescribed.

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- Other acts of violation causing serious consequences on supply of electricity or finance to other units in the electricity market.

2. The Department of electricity regulation has a right to suspend the right to participate in electricity market of any power plant having acts of violation prescribed in Clause 1 of this Article. The order and procedures to suspend the right to participate in electricity market are specified in Article 112 of this Circular.

3. During the time the power plant is suspended its right to participate in electricity market:

a) The generating unit or power plant are not entitled to make price offering in electricity market but must comply with othe provisions of this Circular.

b) The electricity system and market operating unit shall schedule and publicize the capacity mobilization diagram for the power plant suspended its right to participate in electricity market. The plant shall be temporarily paid all output generated in the payment circle at a price equal to 90% of the price in the power sale and purchase contract signed between the two parties.The difference amount (10% remaining) shall be settled in the first month's payment cycle when the plant is restored its right to participate in electricity market.

4. The suspended power plant shall be restored the right to participate in electricity market when meeting the following conditions:

a) Upon expiration of suspension of the right to participate in electricity market is over;

b) Having completed obligations specified in the decision on suspension of the right to participate in electricity market.

5. When fully meeting conditions specified in Clause 4 of this Article, the power plant shall send written request for restoration of the right to participate in electricity market together with evidencing documents to the electricity system and market operating unit which shall check and make report to the Department of electricity regulation to permit the power plant to participate in electricity market.

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Article 9. Termination of electricity market participation

1. The power plant shall terminate its electricity market participation in the following cases:

a) At the proposal of the generating unit possessing the power plant in the following cases:

- The generating unit’s power plant has stopped operating or generating into the national electricity system;

- The generating unit’s power plant does not maintain and is not able to restore its installed capacity greater than 30MW.

b) The power plant’s electricity operation license in the field of power generation is revoked or expired.

2. In case specified at Point a, Clause 1 of this Article, the generating unit possessing power plant shall submit dossier to request termination of electricity market participation to the electricity system and market operating unit for appraisal and submission to Department of electricity regulation for consideration within a time limit of at least 30 days before the time to terminate its electricity market participation.

3. The electricity system and market operating unit shall update dossier of registration information storage and publicize information on termination of electricity market participation of the power plant.

4. In case the power plant has acts of violation before the time to terminate the electricity market participation, the generating unit possessing power plant shall continue to implement provisions concerning inspection and handling of violation as specified in this Circular.

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PRINCIPLES OF ELECTRICITY MARKET OPERATION

Article 10. Limit of offering price

1. The offering price of units in electricity market is limited from the floor price of quotation to the ceiling price of quotation.

2. The rate of ceiling price of quotation of thermoelectric set is determined annually and adjusted monthly and calculated based on on the following factors

a) Heat loss capacity of generating set;

b) Performance degradation coefficient over the operating time of generating set.

c) Fuel price;

d) Additional cost coefficient;

e) Variable price under power sale and purchase contract.

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4. Limit of offering price of hydropower sets is determined by water value weekly and speccified in Article 39 of this Circular.

Article 11. Water value

1. Water value is used to make operating plan for year, month and week ahead and determine the limit of offering price of hydropower set in electricity market.

2..The electricity system and market operating unit shall calculate and publicize water value according to market timetable specified in Appendix I of this Circular.

Article 12. Total market price

Total market price for transaction cycle is calculated by the total of the two following components:

1. Market power price.

2. Market capacity price.

Article 13. Market power price

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2. Market power price shall be calculated by the electricity system and market operating unit after the time of operation based on the method of non-binding schedule.

3. Market power price shall not exceed the rate of market ceiling price calculated by the electricity system and market operating unit and annually approved by Department of electricity regulation.

4. The determination of market power price is specified in Article 65 and 67 of this Circular.

Article 14. Market capacity price

1. Market capacity price for each transaction cycle is calculated by the electricity system and market operating unit during year-ahead operation planning.

2. Market capacity price is calculated on the principle to ensure the best new power plant recovers adequately fixed and variable costs.

3. The determination of market capacity price is specified in Article 25 and 26 of this Circular.

Article 15. Power sale and purchase contract for difference

1. The generating unit of direct transaction and the unique wholesaling unit shall sign the power sale and purchase contract for difference under the form issued by the Ministry of Industry and Trade.

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3. Monthly contract output is determined by the electricity system and market operating unit in the year-ahead operation planning process based on the allocation of yearly contract output in the months in accordance with Article 28 of this Circular.

4. Hourly contract output is determined by the electricity system and market operating unit in the month-ahead operation planning process based on the allocation of monthly contract output in the hours in month in accordance with Article 28 of this Circular.

5. Department of electricity regulation shall determine and publicize the rate of payment output at contract price of generating units annually according to each technological type on the principle as follows:

a) Harmonization assurance of objectives:

- Gradually reduction of rate of payment power output at contract price;

- Stability of revenue of generating unit;

- Stability of average generation price in accordance with regulation on preparation of electricity retail price list.

b) The rate of payment power output at contract price is specified separately for types of hydropower and thermal power technology. This rate is not higher than 95% and not lower than 60%.

Article 16. Principle of payment in electricity market

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2. The payment at market price only applies to generating unit of direct transaction and is calculated based on the following factors:

a) Market power price;

b) Market capacity price;

c) Power output and mobilization capacity.

3. Payment to generating units of direct transaction is made in accordance with provisions in Chapter VI of this Circular.

4. Generating units of indirect transaction are paid in accordance with provisions in power sale and purchase contract.

Chapter IV

ELECTRICITY MARKET OPERATION PLAN

Section 1. YEAR-AHEAD OPERATION PLAN

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1. The electricity system and market operating unit shall make year-ahead operation plan including the following contents:

a) Choosing the best new power plant;

b) Calculating market capacity price;

c) Calculating water value and optimal water level of hydropower reservoir;

d) Calculating price limit of quotation of thermoelectric set;

e) Determining market ceiling price;

g) Assuming the prime responsibility and coordinating with the unique wholesaling unit to calculate planning output, yearly contract output and allocate the yearly contract output to months in year of generating unit of direct transaction.

2. The electricity system and market operating unit shall use the market simulation model to calculate the contents specified at Points a, b, c, d and e, Clause 1 of this Article. The input parameters used in the market simulation of the thermoelectric sets is the variable cost of the generating set defined in Clause 3 of this Article, the hydrological characteristics and technical specifications of hydroelectric power plants.

3. The variable cost of the thermoelectric set is defined as follows:

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In which:

VC: Variable cost of the thermal generating set (dong/kWh);

f: Additional cost coefficient, is calculated by the ratio of the sum of the start-up costs, fuel costs, auxiliary materials and variable operation and maintenance costs for generation compared to the cost of main fuel;

P_NL: Price of main fuel of thermoelectric set (dong/kCal or dong/BTU);

HR: Heat loss capacity of thermoelectric set (BTU/kWh or kCal/kWh);

- Fuel price in year N is the fuel price published for year N by competent state agencies or in the long-term primary fuel sale and purchase contract. In case of both types of fuel prices, use the fuel price published by the competent State agencies for year N. In the absence of both types of fuel prices, the fuel price in year N is calculated by the average of the actual fuel price used for payment of the last 12 months prior to the planned operation in year N;

- Heat loss capacity of thermoelectric set (HR) is determined by the heat loss capacity agreed in contract or in dossier of power sale and purchase contract negotiation provided by the unique of wholesaling unit and adjusted by the performance degradation coefficient. In case in the contract or dossier of contract negotiation, there is only characteristic of loss capacity at loading levels, the heat loss of generating sets is determined at loading level in proportion to the average power output generated of many years of power plant specified in power sale and purchase contract.

In case the thermoelectric set does not have data of heat loss capacity in the contract or in dossier of power sale and purchase contract negotiation, the heat loss capacity of that power plant is determined by the heat loss capacity of standard power plant in the same group by generating technology and installed capacity. The electricity system and market operating unit shall calculate the heat loss capacity of standard power plant.

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In case the thermal power plant does not have data of performance degradation coefficient in the contract or in dossier of power sale and purchase contract negotiation, apply the performance degradation coefficient of standard power plant in the same group with that power plant determined by the electricity system and market operating unit.

- Additional cost coefficient (f) of thermoelectric set determined by the unique wholesaling unit based on the data in the contract or in dossier of power sale and purchase contract negotiation and provided to the electricity system and market operating unit. In case the aditional cost coefficient of the thermal generating set is not included in the contract or in dossier of power sale and purchase contract negotiation, the additional cost coefficient of that thermal generating set is determined by the method of determination of power price; order, procedures for construction, issuance of generation price range and approval of power sale and purchase contract.

b) In case there is no heat loss capacity data in dossier of power sale and purchase contract negotiation and there is no standard power plant in the same appropriate group, the variable cost of the set is determined by the variable price in the contract updating factors affecting the variable price in year N by the method agreed in the contract.

4. The electricity system and market operating unit shall submit the year-ahead operating plan to Vietnam Electricity Group for appraisal and to Department of electricity regulation for approval according to market schedule specified in Annex 1 of this Circular. The submitted dossier includes calculation result, input data and calculation explanation.

5. In case the coal and gas price for generation has a big change compared with the time of approving year-ahead operation plan, Department of electricity regulation shall consider and require the electricity system and market operating unit to update data and re-calculate the operation plan for remaining months in the year for submission to Vietnam Electricity Group for appraisal and to Department of electricity regulation for approval

Article 18. Classification of hydropower plants

1. The hydropower plants in electricity market are classified as follows:

a) Multi-objective strategic hydropower plant;

b) Group of ladder hydropower plants;

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d) Group of hydropower plants with regulating reservoir from 02 days to 01 week;

dd) Group of hydropower plants with regulating reservoir of less than 02 days.

2. Annually, the electricity system and market operating unit shall update list of hydropower plants specified in Clause 1 of this Article.

3. Based on the proposal of Vietnam Electricity Group, Department of electricity regulation shall make a list of multi-objective strategic hydropower plant so that the Ministry of Industry and Trade submits it to the Prime Minister for approval.

Article 19. Subloading forecasting for year-ahead operation planning.

The electricity system and market operating unit shall forecast the subloading in service of year-ahead operation planning.

1. Total system subloading demand and subloading of the North, Central and South respectively for the whole year and for each month of the year.

2. Subloading diagram of typical days of the North, Central, South, and the whole system of months in a year.

3. Maximum and minimum capacity of system subloading in each month.

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1. The electricity system and market operating unit shall determine demand of types of auxiliary for year ahead as prescribed in Regulation on transmission electricity system.

2. The electricity system and market operating unit shall select power plant to supply auxiliary services and sign contract of auxiliary services supply with generating unit under the form issued by the Ministry of Industry and Trade.

Article 21. Classification of year-ahead base load, intermediate load and peak load set.

1. The electricity system and market operating unit shall classify the base load, intermediate load and peak load set as specified in the classification process of generating set and calculation of ceiling price of quotation of thermal power plant.

2. The electricity system and market operating unit shall use the market simulation model to determine the annual average load factor of generating sets.

3. Based on the annual average load factor from simulation result, the sets are classified into 03 (three) groups as follows:

a) Group of base load sets including generating sets with annual average load factor greater or equal to 60%;

b) Group of intermediate load sets including generating sets with annual average load factor greater than 25% or less than 60%;

c) Group of peak load sets including generating sets with annual average load factor greater or equal to 25%;

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1. In case of determination of heat loss value:

a) Ceiling price of quotation of thermoelectric set is determined by the following formula:

In which:

: Ceiling price of quotation of thermoelectric set (dong/kWh);

f: Additional cost coefficient, is calculated by the ratio of the sum of the start-up costs, fuel costs, auxiliary materials and variable operation and maintenance costs for generation compared to the cost of main fuel;

K_DC: Ceiling price adjustment coefficient by the classification result of thermoelectric set. For base load thermoelectric set K_DC = 2%; intermediate load thermoelectric set K_DC = 5%; peak load thermoelectric set K_DC = 20%;

P_NL: Main fuel price of thermoelectric set (dong/kCal or dong/BTU);

HR: Heat loss capacity at average loading level of thermoelectric set (BTU/kWh or kCal/kWh);

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2. In case there is no data of heaf loss capacity in contract or in dossier of power sale and purchase contract negotiation and there is no standard in the same appropriate group:

a) Ceiling price of quotation of thermoelectric set is determined by the following formula:

In which:

: Ceiling price of quotation of thermoelectric set (dong/kWh)

K_DC: Ceiling price adjustment coefficient by the classification result of thermoelectric set. For base load thermoelectric set K_DC = 2%; intermediate load thermoelectric set K_DC = 5%; peak load thermoelectric set KDC = 20%;

: Variable price for year N under power sale and purchase contract for difference of power plant (dong/kWh).

b) Variable price used to calculate ceiling price of quotation is the expected variable price for year N provided by the unique wholesaling unit to the electricity system and market operating unit.

3. Floor price of thermoelectric set are specified in Clause 3, Article 10 of this Circular.

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Article 23. Determination of market ceiling price

1. The electricity system and market operating unit shall calculate market ceiling price options. There are at least 03 (three) options:

2. Market ceiling price for year N is determined on the principle:

a) Not less than variable cost of base and intermediate load thermoelectric sets directly offering price in electricity market.

b) Not greater than 115% of the highest ceiling price of quotation in base and intermediate load thermoelectric sets directly offering price in electricity market.

Article 24. Selection of best new power plant

1. The best new power plant for year N is the power plant participating in electricity market fully meets the following criteria:

a) Starting commercial operation and generating the entire installed capacity in the year N-1;

b) Being a base load power plant classified by criteria in Clause 3, Article 21 of this Circular;

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d) Having the lowest average total generation cost for 01 kWh

2. The unique wholesaling unit shall make list of power plants meeting criteria at Point a and c, Clause 1 of this Article and provide data of power sale and purchase contracts of these power plants to the the electricity system and market operating unit to determine the best new power plant. The data includes:

a) Variable price for year N;

b) Fixed price for year N;

c) Agreed power output to calculate contract price.

3. In case there is no power plant meeting criteria specified at Points a, b and c, Clause 1 of this Article, the electricity system and market operating unit shall use list of selected new plants for year N-1 and require the unique wholesaling unit to update, and provide data again as specified in Clause 2 of this Article for calculation and selection of the best new power plant for year N.

4. The electricity system and market operating unit shall calculate the average total generation cost for 01 kWh of power plants meeting criteria specified at Points a, b and c, Clause 1 of this Article by the following formula:

: Average total generation cost for 01 kWh of power plant (dong/kWh);

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: Variable price for year N under power sale and purchase contract for difference of power plant (dong/kWh);

: Agreed power output to calculate contract price for year N of power plant (kWh);

: Expected power output in year N of power plant determined from the market simulation model by the method of binding schedule (kWh).

5. List of the best new power plants arranged in order of average total generation cost for 01 kWh from low to high. The best new power plant selected for year N is the power plant with the lowest average total generation cost for 01 kWh according to calculation result in Clause 3 of this Article

Article 25. Principle to determine market capacity price.

1. Ensuring the best new power plant fully recovers generation cost upon participation in electricity market.

2. Not applying market capacity price during night off-peak hours which are from 0h00 to 4h00 and from 22h00 to 24h00.

3. Market capacity price is proportional to the subloading of forecasting system for the transaction cycle.

Article 26. Order to determine market capacity price

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1. Determining Yearly deficient cost of the best new power plant.

a) Determining expected revenue in the market of the best new power plant in year N by the following formula:

In which:

R_TTD: Expected revenue through market power price of the best new power plant in year N (dong);

i: Transaction cycle i in year N

I: Total transaction cycles in year N

SMP_i: Expected market power price of transaction cycle i in year N determined from the electricity market simulation model by the method of non-binding schedule (dong/kWh);

: Expected output of the best new power plant in transaction cycle i in year N determined from the electricity market simulation model by the method of binding schedule (kWh);

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In which:

TC_BNE: Yearly generation cost of the best new power plant in year N (dong);

P_BNE: Average total generation cost for 01 kWh of the best new power plant defined in Clause 4, Article 23 of this Circular (dong/kWh);

: Expected output of the best new power plant in transaction cycle i in year N determined from the electricity market simulation model by the method of binding schedule (kWh);

i: Transaction cycle i in year N;

I: Total transaction cycles in year N.

c) Yearly deficient cost of the best new power plant is determined by the following formula:

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AS: Yearly deficient cost of the best new power plant in year N (dong);

TC_BNE: Total yearly generation cost of the best new power plant in year N defined at Point b of this Clause (dong);

 : Expected revenue through the market power price of the best new power plant in year N defined at Point a of this Clause (dong);

d) In case when calculating the yearly deficient cost with negative value by the lowest market ceiling price plan, the electricity system and market operating unit shall make report to the Department of electricity regulation to select the next best new power plant in the list of new specified in Article 24 of this Circular and recalculate or review the list of power plant participating in electricity market in order to determine the ceiling price reasonably.

2. Determining monthly deficient cost

The monthly deficient cost of the best new power plant is determined by allocation of yearly deficient cost to months in year N by the following formula:

In which:

t: Month t in year N;

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AS: Yearly deficient cost of the best new power plant in year N (dong);

: Peak load capacity in month t (MW).

3. Determining market capacity price for transaction cycle.

a) Determining the yearly average available capacity of the best new power plant by the following formula:

In which:

Q_BNE: Average available capacity in year N of the best new power plant (kW);

I: Total transaction cycles in year N minus night off-peak hours;

i: Transaction cycle in which the best new power plant expected to be mobilized minus night off-peak hours;

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b) Determining market capacity price for each year-ahead transaction cycle by the following formula:

In which:

I: Total transaction cycles in month t, excluding night off-peak hours;

i: Transaction cycle I trong month t; excluding night off-peak hours;

: Market capacity price of transaction cycle i (dong/kW);

Q_BNE: Average available capacity in year N of the best new power plant (kW);

MS: Deficient cost of month t of the best new power plant (dong);

: Subloading of forecasting system of transaction cycle i according to subloading diagram of forecasting typical day of month t specified in Article 19 of this Circular (MW);

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Article 27. Determination of yearly contract output

Yearly contract output of power plant is determined in the process of year-ahead operation planning including the following steps:

1. Planning the year-ahead operation by the method of binding schedule. The input parameter used in planning year-ahead power system operation is the total price of thermal power plants, hydrological characteristics and technical specifications of thermal power plants

2. Calculating the yearly planning output of power plant by the following formula:

          if         

       if         

     if         

In which:

: Planning output in year N of power plant (kWh);

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GO: Power output generated on average in many years of power plant specified in power sale and purchase contract (kWh);

a, b: Yearly output adjustment coefficient is determined in accordance with regulation on the method of determination of generation price; order and procedures of construction and issuance of generation price range and approval of power sale and purchase contract.

3. Calculating the yearly contract output of power plant by the following formular:

In which:

Qc: Yearly contract output in year N (kWh);

: Yearly contract output in year N of power plant (kWh);

: Rate of output paid under contract price for year N (%). The rate of this output is specified in Clause 5, Article 15 of this Circular.

Article 28. Determination of monthly contract output

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1. Using the market simulation model by the method of binding schedule to determine the monthly expected output of power plant.

2. Determining the monthly contract output by the following formula:

In which:

 : Contract output of month t of power plant (kWh);

Qc : Yearly contract output of power plant (kWh);

: Expected output in month t of the power plant determined from the market simulation model by the method of binding schedule (kWh).

Article 29. Responsibilities for determination and signing monthly and yearly contract output.

1. The electricity system and market operating unit shall:

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b) Send result of contract output calculation to the unique and generating unit of direct transaction for checking.

2. The unique wholesaling unit and generating unit of direct transaction shall:

a) Provide data to the electricity system and market operating unit to calculate monthly and yearly contract output;

b) Check and coordinate with the electricity system and market operating unit to handle discrepancy in the results of calculation;

c) Supplementing appendix and amendment of appendix of monthly and yearly contract output contract to the power sale and purchase contract for difference according to the result of calculation.

Article 30. Determination of price of expected average generation price for year N.

1. The electricity system and market operating unit shall calculate the expected average generation price for year N and the rate of change of the expected average generation price compared to the year N-1.

2. The yearly average generation price is calculated by the following formula:

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j: Power plant j of the generating unit of direct transaction;

J: Total power plant of the generating units of direct transaction ;

P_PDTB: Average generation price of entire system in year N (dong/kWh);

: Average total market price in year N specified in Clause 4 of this Article (dong/kWh);

: Total power output in year N of entire system (kWh);

: Total power output in year N of generating units of direct transaction (kWh);

: Total power output in the power sale and purchase contract for difference in year N of the power plant j (kWh);

: Price of power sale and purchase contract for difference in year N of the power plant j (kWh);

: Total cost of power purchase from BOT power plants in year N (dong);

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CDVPT: Total cost of auxiliary services purchase in year N (dong).

3. Average total market price is determined by the following formula:

In which:

i: Transaction cycle i in year N;

I: Total transaction cycle in year N;

: Average total market price in year N (dong/kWh);

: Expected output generated in market of all power plants participating in market in transaction cycle i determined from the binding market simulation model (kWh);

: Expected market power price of transaction cycle i determined from the non-binding market simulation model (dong/kWh);

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Section 2. MONTH-AHEAD OPERATION PLAN

Article 31. Subloading forecasting for month-ahead operation planning.

The electricity system and market operating unit shall forecast the subloading in service of month-ahead operation planning by the method specified in Regulation on transmission electricity system

1. Total system subloading demand and subloading of the North, Central and South for entire month and each week of the month.

2. Subloading diagram of typical days of the North, Central, South, and the whole system for weeks in a month.

Article 32. Water value calculation

The electricity system and market operating unit shall calculate water value for weeks in the next month. The result of calculation is used to plan month-ahead operation including:

1. Expected output of multi-objective strategic hydropower plants.

2. Water value of hydropower plant in group of ladder hydropower plants.

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4. Limited water level of weeks in a month of reservoirs.

Article 33. Classification of month-ahead base, intermediate and peak load set

1. The electricity system and market operating unit shall classify the month-ahead base, intermediate and peak load set under the process of set classification and calculation of monthly ceiling price of quotationof thermal power plant.

2. The electricity system and market operating unit shall use the market simulation model to determine the monthly average load coefficient of generating sets in the next month.

3. Based on the monthly average load coefficient from the simulation result, the sets are classified into 03 (three) groups as follows:

a) Group of base load sets including generating sets with monthly average load coefficient greater or equal to 70%;

b) Group of intermediate load sets including generating sets with monthly average load coefficient greater than 25% or less than 70%;

c) Group of peak load sets including generating sets with monthly average load coefficient less than or equal to 25%;

Article 34. Adjustment of ceiling price of thermoelectric set

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a) Fuel price of thermal power plant in the next month in case the ceiling price of quotation is method specified in Article 22 of this Circular.

Month-ahead fuel price is the price published by the competent agency and applied for the next month. In case there is no data on fuel price published by the competent agency, the month-ahead fuel price is the fuel price according to the payment dossier of the last month prior to the time of month-ahead planning. The unique wholesaling unit shall update information on fuel price of thermal power plants for the next month and provide it to the electricity system and market operating unit and also notify generating units;

b) Variable price of thermal power plants in case the ceiling price of quotation is determined under Clause 2, Article 22 of this Circular.

The unique wholesaling unit shall update changes on variable price of thermal power plants and provide it to the electricity system and market operating unit;

c) Result of classification of thermal power plant for the next month specified in Article 33 of this Circular.

2. The electricity system and market operating unit shall publish the ceiling price of quotation of thermoelectric set in the next month according to market schedule specified in Appendix I of this Circular.

Article 35. Adjustment of monthly contract output.

1. The monthly contract output shall be adjusted in case the repair and maintenance schedule of the plant of month M is changed compared to yearly operation plan as required of the electricity system and market operating unit to ensure electricity system security, not due to causes of the plant. The adjustment of monthly contract output in this case is on the following principle: the change of output Qc between months in proportion to the time of repair to ensure the invariable adjusted total Qc of months in a year.

In case the plant is changed its repair and maintenance schedule at the end of year, the output Qc in proportion to reparing time of this month.

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Article 36. Determination of hourly contract output

The electricity system and market operating unit shall determine the hourly contract output in the next month for the power plant by the following steps:

1. Using the market simulation model to determine the expected hourly output in month of the plant by the method of binding schedule.

2. Determining the hourly contract output by the following formula:

In which:

i: ith Transaction cycle in month;

I: Total cycles in month;

: Contract output of the power plant in transaction cycle i (kWh);

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: Monthly contract output of the power plant is determined in Article 28 of this Circular (kWh).

3. In case the contract output of the power plant in transaction cycle i is greater than the highest generated output of the power plant, the contract output in that transaction cycle is adjusted by the highest generated output of the power plant;

4. In case the contract output of the thermal power plant in transaction cycle i is greater than 0 (zero) MW and less than the lowest stable generation capacity (Pmin) of the power plant, the contract output in that transaction cycle shall be adjusted by the lowest stable generation capacity of the power plant which is determined by the lowest stable generation capacity of 01 (one) set of the power plant scheduled for mobilization in electricity market model of that cycle.

In case the contract output of hydropower plants is less than the lowest stable generation capacity, it is likely to be adjusted by 0 (zero) MW or the lowest stable generation capacity.

5. The electricity system and market operating unit shall allocate the different total output due to adjustment of hourly contract output specified in Clause 3 and 4 of this Article in different hours in month on the principle to ensure invariable monthly contract output and comply with provisions in the process of year, month and month ahead operation planning.

6. The electricity system and market operating unit shall send the result of calculation of hourly contract output to the unique wholesaling unit and the generating unit of direct transaction according to electricity market timetable specified in Appendix I of this Circular.

7. The unique wholesaling unit and the generating unit of direct transaction shall sign to confirm the monthly contract output adjusted under Article 35 and hourly contract output according to the result of calculation of electricity system and market operating unit.

Section 3. YEAR-AHEAD OPERATION PLAN

Article 37. Week-ahead water value

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2. The electricity system and market operating unit shall update and recalculate the week-ahead water value and publish the following results:

a) Water value and expected weekly output of the multi-objective strategic hydropower plant;

b) Water value of groups of ladder hydropower plants and hydropower plants with regulating reservoirs over 01 week;

c) Expected weekly output of hydropower plants with regulating reservoirs of less than 02 days;

d) Limited water level of hydroelectric reservoirs with regulating capacity over 01 week.

Article 38. Determination of contract output of hydropower plants with regulating reservoirs from 02 days to 01 week.

1. The electricity system and market operating unit shall calculate and publish the weekly contract output and allocate the weekly contract output for each transaction cycle in a week of hydropower plants with regulating reservoirs from 02 days to 01 week according to provisions in the process of year, month and month ahead operation planning.

2. The electricity system and market operating unit shall send the weekly contract output of hydropower plants with regulating reservoirs from 02 days to 01 week to the unique whosaling unit and generating units. These two units shall sign to confirm the weekly contract output of the plant as a basis for electricity payment.

Article 39. Limit of offering price of hydropower plant

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a) Floor price of quotation is 0 (zero) dong/kWh;

b) Ceiling price of quotation is equal to the highest value of:

- Water value of that plant;

- Average price of ceiling prices of quotation of thermoelectric sets participating in electricity market in monthly operation planning;

c) Every month, the electricity system and market operating unit shall publish the average price of ceiling prices of quotation of month-ahead thermoelectric sets for hydropower plants at the same time of publication of ceiling price of quotation of month-ahead thermoelectric sets.

2. Limit of offering price of hydropower plant with regulating reservoir from 02 days to 01 week is determined as follows:

a) Floor price of quotation is 0 (zero) dong/kWh;

b) Ceiling price of quotation is equal to the highest value of:

- Highest water value of hydropower plants participating in the market;

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c) Every week, the electricity system and market operating unit shall publish the highest water value of hydropower plants participating in week-ahead market to the hydropower plants with regulating reservoirs from 02 days to 01 week.

Chapter V

ELECTRICITY MARKET OPERATION

Section 1. DAY-AHEAD ELECTRICITY MARKET OPERATION

Article 40. Information for day-ahead electricity market operation

Before 10h00 on day D-1, the electricity system and market operating unit shall determine, calculate and publish the following information:

1. Subloading forecasting diagram of day D of the entire system and of the North, Central and South.

2. The expected output of the multi-objective strategic hydropower plant and the plants indirectly participating in the market, BOT plants in each day-ahead transaction cycle.

3. Day-ahead total expected gas output of gas thermal power plants sing the same source of gas.

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5. Results of security assessment of short-term system for day D as prescribed in Regulation on transmission electricity system.

Article 41. Price quotation

Price quotation must comply with the following principles:

1. Having 05 (five) pairs of offering price (dong/kWh) and capacity (MW) for the set in each transaction cycle of day D.

2. Capacity in the price quotation is the capacity at the terminal of generating set.

3. Offering capacity of subsequent offering range must not be lower than capacity of preceding offering range.

4. Having information on technical parameters of the set including:

a) Published capacity of the set for the day D;

b) Lowest stable generation capacity of the set.

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d) Technical binding upon simultaneous operation of the sets.

5. The published capacity of the set in the quotation of day D shall not be lower than the rate of published capacity in day D-2 according to the process of security assessment of short term electricity system specified in the Regulation on transmission electricity system except for the case of unforeseen technical problems. The plant shall update the published capacity upon occurrence of problems leading to reduction of available capacity.

6. In normal condition, the first range of offering capacity in the price quotation of thermoelectric sets must be equal to the lowest stable generation capacity of the set. The last range of offering capacity must be equal to the published capacity. For thermoelectric plants during startup and stopping are allow to update the hourly quotation with capacity lower than the lowest stable generation capacity.

7. The hydropower plants may offer the first ranges of capacity in each hour equal to 0 (zero) MW but the last range of offering capacity must be equal to the published capacity.

9. Unit of offering price is dong/kWh, with the smallest number of decimal as 0.1.

Offering price is between the floor price and the ceiling price of the set and shall not decrease in the increasing way of the offering capacity.

The form of price quotation is specified in Appendix III of this Circular.

Article 42. Price offering for group of ladder hydropower plants

1. The group of ladder hydropower plants shall make price offering under a general price quotation for the entire group and comply the limit of offering price specified in Article 38 of this Circular.

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3. In case of failing to register the representative unit for price offering for the group of ladder hydropower plants, the electricity system and market operating unit shall make price offering on behalf of the plants in this group in accordance with water value of the group.

4. The representative unit for price offering shall comply with regulations on price offering for all power plants in the group of ladder hydropower plants.

5. In case the power plant in the group of ladder hydropower plants propose the price offering, based on the proposal of the power plant in the group of ladder hydropower plants and the binding optimization of water use of the entire group, the Department of electricity regulation shall consider and decide on price offering of this hydropower plant.

6. The water value of the group of ladder hydropower plants is the water value of the largest hydoelectric lake in that ladder. The electricity system and market operating unit shall determine the hydoelectric lake used to calculate water value for group of ladder hydropower plants together with the classification of hydropower plants specified in Article 18 of this Circular.

7. In case the group of ladder hydropower plants has the multi-objective strategic hydropower plant:

a) The electricity system and market operating unit shall publish the hourly generation output in the next week of each hydropower plant in the group of ladder hydropower plants specified in Clause 2, Article 37 of this Circular;

b) When the published output of the multi-objective strategic hydropower plant in the group is adjusted specified in Article 53 of this Circular, the electricity system and market operating unit shall adjust the published output of power plants at lower ladder accordingly.

Article 43. Price offering of other hydropower plants

1. Other hydropower plants with regulating reservoirs from 02 days or more make price offering and comply with the limit of offering price specified in Article 39 of this Circular.

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a) Offering price is 0 d/kWh for all offering ranges;

b) Offering range is equal to the expected generation capacity of the set in the transaction cycle.

Article 44. Submission of price quotation

1. Before 11:30 on day D-1, the price offering unit shall submit a price quotation on day D.

2. The price offering units shall submit the price quotation through the market information system. In case of problems so the market information system cannot be used, the price offering unit shall agree with the electricity system and market operating unit on other methods for the submission of price quotation in order of priority as follows:

a) By E-mail to the mail address of the electricity system and market operating unit;

b) By Fax through the fax number specified by the electricity system and market operating unit;

c) Submission of quotation directly at the electricity system and market operating unit.

Article 45. Checking validity of price quotation

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2. In case the price quotation is not valid, the electricity system and market operating unit shall notify the submitting unit immediately and require this unit to re-submit the final price quotation prior to the end of price offering.

3. After receiving notification of the electricity system and market operating unit of the invalid price quotation, the price offering unit shall modify and re-submit it prior to the end of price offering.

Article 46. Scheduling price quotation

1. After the end of price offering, the electricity system and market operating unit shall check the validity of price quotations last received specified in Article 41 of this Circular. The valid final price quotation shall be used as the scheduling price quotation for day-ahead mobilization scheduling.

2. In case the electricity system and market operating unit does not receive the price quotation or the final price quotation of price offering unit is invalid, the electricity system and market operating unit shall use the default price quotation of that generating unit as the scheduling price quotation.

3. The default price quotation of power plants is determined as follows:

a) For thermal power plants, the default price quotation is the last valid price quotation. In case the last valid price quotation is not appropriate with the actual state of operation of the set, the default price quotation is the one in proportion to the current state and the fuel used in the set of default price quotation used for that month of the set. The price offering unit shall develop the set of default price quotation used for the next month of the thermoelectric set in proportion to the state of operation and fuel of the set and submit it to the electricity system and market operating unit before the 25th date of each month.

b) For hydropower plants and group of ladder hydropower plants, the default price quotation is the one with the offering price equal to the published weekly water value.

Article 47. Data used for day-ahead mobilization scheduling

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1. Daily subloading diagram of the entire system and the North, Central and South.

2. Schedlung price quotations of the price offering units.

3. Published capacity of the hydropower plants specified in Clause 2, Article 37, Clause 7, Article 42 and Clause 2, Article 43 of this Circular.

4. Power output imported and exported specified in Article 60 and Article 61 of this Circular.

5. Capacity of the sets of power plants providing auxiliary services.

6. Requirement on rotation backup capacity and frequency regulation.

7. Repair and maintenance of transmission power grid and generating sets approved by the electricity system and market operating unit.

8. Testing schedule of generating set.

9. Mobilization diagram of power plants which are suspended their right to participate in electricity market specified in Clause 3, Article 8 of this Circular.

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11. Results of security assessment of short-term system for day D as prescribed in Regulation on transmission electricity system.

12. Updated information about the availability of the transmission grid and the generating sets from the SCADA system or provided by the electricity system and market operating unit.

Article 48. Day-ahead mobilization schedule

The electricity system and market operating unit shall make day-ahead mobilization schedule:

1. Non-binding schedule including:

a) Expected market power price in each day-ahead transaction cycle;

b) Mobilization order of generating sets in each day-ahead transaction cycle.

2. Binding schedule including:

a) Expected mobilization diagram of each set in each day-ahead transaction cycle, marginal price of each region in each day-ahead transaction cycle.

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c) Method of operation, expected wire connection diagram of the power system in each day-ahead transaction cycle.

d) Warning information (if any)

3. Day-ahead schedule in case of excessive capacity.

The electricity system and market operating unit shall calculate the stopping and re-startup of sets in case of excessive capacity on the principle as follows:

a) Stopping the sets with the price of electricity sale and purchase contract in the order from high to low;

b) Stopping the sets with the startup cost from low to high;

c) Upon re-startup in the order of set with the price of electricity sale and purchase contract in the order from low to high;

d) Calculating the stoppage time of sets to meet the requirements of the system and restricting the up and down operation of the sets many times.

Article 49. Publication of day-ahead schedule

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1. Expected mobilization capacity including capacity of frequency regulation and rotation backup of the sets in each day-ahead transaction cycle. The marginal price of each region in each day-ahead transaction cycle.

2. Expected market power price for each day-ahead transaction cycle.

3. List of sets expectedly increasing or decreasing capacity in each day-ahead transaction cycle.

4. Information about warning of day-ahead capacity shortage (if any), including:

a) Transaction cycles with expected capacity shortage;

b) Amount of power shortage;

c) Security binding of violated system;

5. Information about warning of day-ahead excessive capacity (if any) including:

a) Transaction cycles of expected excessive capacity;

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Article 50. Grid connection to generating set

1. For low startup set, the generating unit shall prepare everything to connect the grid of this set according to day-ahead schedule published by the electricity system and market operating unit. In case the startup time of the set is larger than 24 hours, the generating unit shall connect the grid of this set based on the results of security assessment of short-term system published by the electricity system and market operating unit.

2. For the set of non-slow startup, the generating unit shall prepare everything to connect the grid of this set according to day-ahead schedule published by the electricity system and market operating unit.

3. During the process of grid connection of thermoelectric sets, the generating unit shall update hourly capacity in the hourly quotation 60 minutes in advance in service of operation and payment calculation.

Article 51. Measures of handling upon warning of capacity shortage.

1. Modification of price quotation

a) Price offering unit is permitted for modification and submits the day-head price quotation or for the remaining transaction cycles in day D to the electricity system and market operating unit 60 minutes prior to operation time with the change of price quotation.

b) The modified price quotation must not decrease its offering capacity and change offering price compared with day-ahead quotation of that price offering unit;

c) The electricity system and market operating unit shall the validity of modified price quotations and use them as scheduling price quotation to make hour-ahead mobilization schedule and calculate electricity market price.

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3. The electricity system and market operating unit is permitted to modify the published capacity of multi-subjective strategic hydropower plants specified in Clause 2, Article 53 of this Circular.

Section 3. OPERATION OF HOUR-AHEAD ELECTRICITY MARKET.

Article 52. Data of hour-ahead mobilization schedule

The electricity system and market operating unit shall use the following data for hour-ahead mobilization schedule

1. Subloading diagram of the entire system and the North, Central and South forecasting an hour ahead and subsequent 03 hours.

2. Grid connection of low startup set according to the published day-ahead schedule.

3. The scheduling price quotations of the price offering units with the update of hourly quotations of low startup sets in the process of grid connection. The hourly quotation of the sets during the stoppage of set and the sets publishing capacity increase in case of power shortage.

4. Published output of the multi-objective strategic hydropower plants.

5. Capacity of frequency regulation, rotation backup, quick startup backup, cold backup and operation to be generated due to the hour-ahead security binding of electricity system

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7. Other system security bindings.

8. Testing schedule of generating set.

Article 53. Adjustment of published output of the multi-objective strategic hydropower plant

1. Before hour-ahead mobilization schedule, the electricity system and market operating unit is permitted for adjustment of hourly output of the multi-objective strategic hydropower plant published as specified in Clause 2, Article 40 of this Circular in the following cases:

a) There are abnormal fluctuations in hydrology;

b) There are warnings of capacity shortage according to day-ahead schedule;

c) There is a decision of the competent state agencies on regulation of reservoir of the multi-objective strategic hydropower plant in service of purpose of flood control and irrigation.

2. Scope of adjustment of hourly output of the multi-objective strategic hydropower plant in cases specified at Point a, b, Clause 1 of this Article is ±5% of the total installed capacity of the multi-objective strategic hydropower plant in the power system excluding the capacity for frequency regulation and rotation backup.

Article 54. Hour-ahead schedule

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2. Making hour-ahead mobilization schedule in case of shortage of capacity.

a) The electricity system and market operating unit shall make mobilization schedule in the order as follows:

- According to the scheduling price quotation;

- The multi-objective strategic hydropower plant according to the adjusted capacity;

- The sets providing quick startup backup services, the sets providing cold backup services according to day-ahead mobilization schedule

- The sets providing operational services to be generated due to security binding of electricity system.

- Rotation backup capacity;

- Reduction of backup capacity of frequency regulation to a permissible lowest level.

b) The electricity system and market operating unit shall check and determine the expected amount of capacity to be discharged to ensure the system security.

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The electricity system and market operating unit shall adjust the hour-ahead schedule through measures in the order as follows:

a) Stopping the sets which voluntarily stop generation.

b) Gradually decreasing generation capacity of low startup sets to the lowest stable generation capacity;

c) Minimally decreasing generation capacity of the set providing the rotation backup service.

d) Minimally decreasing generation capacity of the set providing the frequency regulation service.

e) Stopping the sets of low startup in the order as follows:

- Having the shortest startup time;

- Having power sale and purchase contract price from high to low;

- Having startup cost from low to high. This cost is agreed between the unique wholesaling unit with the electricity system and market operating unit;

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Article 55. Publication of hour-ahead schedule

The electricity system and market operating unit shall publish the hour-ahead schedule 15 minutes prior to the operation hour including the following contents:

1. The hour-ahead subloading forecasting of entire system and the North, Central and South;

2. Mobilization schedule of generating sets, marginal price in the North, Central and South in hour ahead and 03 subsequent hours scheduled specified in Article 54 of this Circular.

3. Handling measures of the electricity system and market operating unit in case of shortage or excess of capacity.

4. Information about adjustment of published capacity of the multi-objective strategic hydropower plant specified in Article 53 of this Circular.

5. Expected subloading discharge schedule.

Section 3. REAL TIME OPERATION

Article 56. Regulation of real time power system

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2. The generating unit shall comply with the order of regulation of the electricity system and market operating unit.

3. The generating unit possessing hydropower plant must comply with regulations on the weekly limited water level specified in Article 37 of this Circular. In case the reservoir of hydropower plant violates the weekly limited water level:

a) The electricity system and market operating unit shall warn the violation of the weekly limited water level of the plant which must adjust the offering price in the subsequent days to ensure no violation of the next weekly limited water level.

b) In case the reservoir of the plant violates the weekly limited water level for 02 consecutive weeks, the plant shall not make price offering itself and the electricity system and market operating unit is allowed to interfere into the mobilization schedule. These power plants shall base on the result of calculation of water value to ensure requirements on power system security and bring the water level of the reservoir to the weekly limited water level.

In case the water level of the reservoir is completely violated due to mobilization on the basis of price quotation of the plant, not due to mobilization to ensure requirements on power system security, then during the time of interference, these plants are paid only with a price equal to 90% of power sale and purchase contract price but no more than 02 weeks from the time of interference.

c) After 02 weeks from the time the electricity system and market operating unit made interference, the water level of reservoir still violates the weekly limited water level due to hydrological conditions or plant mobilization to ensure requirements on power system security, the electricity system and market operating unit is allowed to further interfere into mobilization schedule of power plants. During this time, the power plant is paid at the power sale and purchase contract price.

d) When ensuring no violation of weekly limited water level, the hydropower plant may continue participation in price offering in the subsequent week;

e) Before 10h00 on Monday, the electricity system and market operating unit shall make report on mobilization schedule since Tuesday to the generating unit and the unique wholesaling unit in the following cases:

- The plant violates water level of reservoir and the plant is interfered with mobilization schedule;

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Article 57. Interference in electricity market

1. Cases of interference in electricity market

The electricity system and market operating unit is allowed to interfere into the electricity market in the following cases:

a) The system is being operated in emergency mode specified in the Regulation on transmission power system;

b) The hour-ahead mobilization schedule cannot be put off 15 minutes prior to operation hour.

2. In case of interference in the electricity market, the electricity system and market operating unit shall mobilize the sets to ensure the objectives in the order of priority as follows:

a) Ensuring balance of generation and subloading capacity;

b) Meeting requirements on backup;

c) Meeting requirements on rotation backup;

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3. Publication of information on interference in electricity market.

a) Upon interference in electricity market, the electricity system and market operating unit must publish the following contents:

- Reasons for interference in electricity market;

- Transation cycles expectedly interfering in the electricity market.

b) Within 24 hours after the end of interference in the electricity market, the electricity system and market operating unit shall publish the following contents:

- Reasons for interference in electricity market;

- Transation cycles expectedly interfering in the electricity market.

- Measures applied by the electricity system and market operating unit to interfere in the electricity market.

Article 58. Stoppage of electricity market

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a) Due to emergency situations of natural disasters or protection of national defence and security;

b) Due to proposal for stoppage of electricity market from the electricity system and market operating unit in case:

- Power system operates in extreme emergence mode specified in Regulation on transmission electricity system.

- Failing to ensure safe and continuous operation of electricity market.

c) Other cases on the requirements of the competent authorities.

2. Department of electricity regulation shall consider and decide on stoppage of electricity market in cases specified at Point a anf b, Clause 1 of this Article and notify the electricity system and market operating unit.

3. The electricity system and market operating unit shall notify electricity market participants of the decision on stoppage of electricity market of the Department of electricity regulation.

4. Power system operation during the time of stoppage of electricity market:

a) The electricity system and market operating unit shall regulate and operate the power system on the following principles:

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- Ensuring implementation of agreements on output in power import and export contracts, power sale and purchase contracts of BOT power plants and power sale and purchase contracts with the output commitment of other power plants;

b) Generating units, power transmission units and other units concerned shall comply with the order of regulation of the electricity system and market operating unit.

Article 59. Restoration of electricity market

1. The electricity market shall be restored its operation when meeting the following conditions:

a) Causes leading to the stoppage of electricity market have been remedied;

b) The electricity system and market operating unit has confirmed the ability to re-operate of the electricity market.

2. The Department of electricity regulation shall consider and decide on restoration of electricity market and notify the electricity system and market operating unit;

3. The electricity system and market operating unit shall notify the electricity market participants of the decision on restoration of electricity market of the Department of electricity regulation.

Section 4. POWER EXPORT AND IMPORT IN ELECTRICITY MARKET OPERATION.

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1. Before 10h00 on day D-1, the electricity system and market operating unit shall publish the expected exported power output in each transaction cycle of day D.

2..The exported power output is calculated as subloading at the exporting point and is used to calculate the forecasting of system subloading in service of day and hour -ahead mobilization schedule.

Article 61. Handling of imported power in mobilization schedule

1. Before 10h00 on day D-1, the electricity system and market operating unit shall publish the expected imported power output in each transaction cycle of day D.

2. The imported power output in mobilization schedule is calculated as the power to be generated with the diagram published in advance in day ahead.

Article 62. Payment for the exported and imported power

The imported power is paid under the power sale and purchase contract signed between parties.

Chapter VI

CALCULATION MARKET POWER PRICE AND PAYMENT IN ELECTRICITY MARKET

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Article 63. Supply of metering data

1. Before 15h00 on day D+1, the power metering data management unit shall provide the electricity system and market operating unit and the unique wholesaling unit with the power metering data of each transaction cycle of day D.

2. Bedore the 8th working day after the end of payment cycle, the power metering data management unit shall provide the electricity system and market operating unit with the power metering data in the payment cycle specified in the Regulation on power metering in a competitive generation market.

Article 64. Storage of metering data

The electricity system and market operating unit is responsible for storage of power metering data and relevant dossier in a time limit of at least 05 years.

Section 2. CALCULATION OF MARKET ELECTRICITY PRICE AND PAYMENT CAPACITY

Article 65. Determination of market power price

1. After transaction day Article, the electricity system and market operating unit shall schedule the calculation of market power price for each transaction cycle of day Article in the following order:

a) Calculating the system subloading in the transaction cycle by converting the metered output to the terminal of generating set;

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- Fixedly arranging under the background of power system subloading diagram the actually generated output of the generating units of direct transaction of electricity market, imported power, BOT power plant, testing sets and power plant belonging to industrial park only selling a portion of its output to the national electricity system, the sets separated from the electricity market;

- Arranging power ranges in the scheduling price quotation of generating units of direct transaction.

2. Market power price is equal to the offering price of the final power range scheduled to meet the rate of system subloading in the schedule of calculation of market power price. In case the offering price of the final power range in the schedule of calculation of market power price is higher than the ceiling price, the market power price is calculated by the market ceiling price.

3. Before 9h00 on day D+2, the electricity system and market operating unit shall publish the market power price of each transaction cycle in day D.

Article 66. Determination of payment capacity

1. Principles to determine the payment capacity for each transaction cycle:

a) The sets generating in each cycle in the market are scheduled to receive the market capacity price for that cycle excluding low startup sets which have stopped for backup or due to problems

b) The payment capacity of the set is at least equal to the power output of the set at the terminal of generating set in the transaction cycle.

c) In case the total capacity of the sets has the same offering price, equally divide the portion of capacity received with the market capacity price at that offering range for each set.

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a) Calculating the adjusted subloading in the transaction cycle by the system subloading adding the following components:

- Capacity of rotation backup for transaction cycle;

- Capacity of frequency regulation for transaction cycle;

- Component of incentive capacity and capacity of added generating sets are calculated by 3% total generation output of the generating units of direct transaction in electricity market in the transaction cycle.

b) Performing the capacity schedule by the method of non-binding schedule to meet the rate of adjusted subloading determined at Point a of this Clause in the following order:

- Fixedly arranging under the background of power system subloading diagram the actually generated output of the generating units of direct transaction of electricity market, imported power, BOT power plant, testing sets and power plant belonging to industrial park only selling a portion of its output to the national electricity system, the sets separated from the electricity market;

- Arranging capacity of frequency regulation, rotation backup and Incrementally generated capacity of generating sets for the transaction cycle of the set at a price equal to 0 (zero) / kWh;

- Arranging ranges of capacity in the scheduling price quotation of the generating units of direct transaction excluding excluding low startup sets which have stopped for backup or due to problems.

3. The amount of payment capacity of the set in the transaction cycle is calculated by the amount of capacity of that set in the capacity schedule.

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Article 67. Determination of market power price and payment capacity upon interference in electricity market.

1. In case the time to interfere in market is less than 24 hours:

a) The electricity system and market operating unit shall use the valid price quotation to determine the market power price as specified in Article 65 and the amount of payment capacity as specified in Article 66 of this Circular;

b) In case the set has no valid price quotation, the electricity system and market operating unit shall use the ceiling price for the portion of hourly contract output and ceiling price of quotation for the output outside the contract to schedule the calculation of market power price and capacity schedule for that transaction cycle.

2. In case the time to interfere in the market is greater or equal to 24 hours, the electricity system and market operating unit shall not calculate the market power price and payment capacity for the period the market is interfered.

Section 3. MAKING PAYMENT TO GENERATING UNIT OF DIRECT TRANSACTION

Article 68. Power output in service of payment in electricity market

1. The electricity system and market operating unit shall calculate the components of power output of the power plant in the transaction cycle in service of payment in the electricity market including:

a) Power output paid by the offering price for thermal power plant with the offering price higher than the market ceiling price (Qbp);

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c) Different power output compared with the output mobilized by the order of regulation (Qdu);

d) Power output paid at market power price (Qsmp).

2. Power output paid at offering price for thermal power plant with the offering price higher than the market ceiling price in the transaction cycle determined as follows:

a) Determining the sets with the offering price higher than the market ceiling price scheduled for market price calculation for transaction cycle i and metering position of that set.

b) Calculating the payment power output at the offering price at each metering position specified at Point a of this Clause by the following formula:

         if

                                                      if

In which:

i: ith transaction cycle;

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: Payment power output at the offering price at metering position j in the transaction cycle i (kWh);

: Power output metered at the metering position j in the transaction cycle i (kWh);

: Power output in proportion to the capacity amount with the offering price lower than or equal to the market ceiling price in the transaction cycle i of the sets connected to the metering position j and converted to that metering position (kWh);

: Power output in proportion to the capacity amount with the offering price higher than the market ceiling price and arranged in the schedule of calculation of market price in the transaction cycle i of the sets connected to the metering position j and converted to that metering position (kWh);

Calculating the payment power output at the offering price for the power plant by the following formula:

In which:

j: Metering point j of thermal power plant specified at point a of this Clause;

J: Total metering points of the power plant with the set offering higher than the ceiling market price and scheduled for calculation of market price;

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: Power output paid at offering price at the metering point j in the transaction cycle i (kWh);

3. The incrementally generated power output of the power plant in transaction cycle is determined in the following order:

a) Calculating the incrementally generated power output in the transaction cycle at the terminal of the set by the following formua:

 In which:

: Incrementally generated power output of the set calculated at the terminal in transaction cycle i (kWh);

i: ith transaction cycle;

J: Number of times to change the order of regulation due to the binding in transaction cycle i;

: J th point of time in the transaction cycle i, the electricity system and market operating unit has the order of regulation to change capacity of generating set due to the binding (minute). In case at this point of time the capacity of generating set is lower than  then is determined as the point of time the set reaches the capacity;

: Point of time the set reaches the capacity due to receiving order of regulation at the point of time  (minute) of the electricity system and market operating unit; In case at this point of time, the capacity of the generating set is lower than  then  is determined as the point of time the set reaches the capacity;

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: Capacity by the order of regulation from the electricity system and market operating unit to the generating set at the point of time . In case this capacity is less than , then this capacity is calculated by;

: Capacity the set reaches at the point of time . In case this capacity is less than then this capacity is calculated by ;

The period from the point of time the order of regulation  capacity  to point of time  the generating set reaches capacity  is determined as follows:

a: Speed of load increase or decrease of the set registered in the scheduling price quotation (MW/minute).

b) Determining the incrementally generated power output in the transaction cycle of the set , by converting the output  from the terminal position of the set to the metering position.

c) Calculating the incrementally generated power output of the power plant in the transaction cycle i by the following formula:

In which:

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g: Added generating set of the power plant in the transaction cycle i;

G: Total added generating sets of the power plant in the transaction cycle i;

: Increased output of the set g in the transaction cycle i (kWh).

4. Different power output compared with the output mobilized by the order of regulation (Qdu) of the power plant in the transaction cycle determined in the following order;

a) Determinating output mobilized by the order of regulation.

The output mobilized by the order of regulation of generating unit is the output at the terminal of the generating set calculated based on the order of regulation to mobilize the set of the electricity system and market operating unit based on the capacity by the order of regulation and the speed of load increase and decrease of the generating set. The output mobilized by the order of mobilization is determined by the following formula:

In which:

i: Transaction cycle i;

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: J th point of time in the transaction cycle i, the electricity system and market operating unit has the order of regulation to change capacity of generating set (minute);

: Point of time the set reaches the capacity due to receiving order of regulation at the point of time  (minute) of the electricity system and market operating unit;

: Output mobilized by the order of regulation calculated at the terminal of the generating set determined for transaction cycle i;

: Capacity by the order of regulation from the electricity system and market operating unit to the generating set at the point of time .

: Capacity the set reaches at the point of time .

The period from the point of time the order of regulation  capacity  to point of time  the generating set reaches capacity  is determined as follows:

a: Speed of load increase and decrease of the set registered in the scheduling price quotation lịch (MW/minute);

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c) Different power output compared with the output mobilized by the order of regulation determined by the following formula:

In which:

: Different power output compared with the output mobilized by the order of regulation calculated at the terminal of the generating set determined for transaction cycle i;

: Metered power output of the power plant in the transaction cycle i (kWh);

: Output mobilized by the order of regulation converted to the metering position for transaction cycle i.

d) In case the set during the startup or stopping, this output Qdu is equal to zero

(Qdui = 0). If this set has technical binding affecting the generation capacity of the other sets of the plant, these affected sets shall not calculate the output Qdu

(Qdui = 0).

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5. Power output paid at the market power price of the power plant in the transaction cycle i determined by the following formula:

In case the different power output compared to the output mobilized by the positive order of regulation (> 0):

In case the different power output compared to the output mobilized by the negative order of regulation (< 0):

In which:

: Power output paid at market power price of the power plant in the transaction cycle i (kWh);

: Metered power output of the power plant in the transaction cycle i (kWh);

: Power output paid at the offering price in the transaction cycle i for thermal power plant having offering price higher than the market ceiling price (kWh);

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: Different power output compared to the output mobilized by the order of regulation in the transaction cycle i.

Article 69. Adjustment of power output in service of payment in electricity market.

1. The electricity system and market operating unit shall calculate and re-adjust the components of power output in service of payment in the market in transaction cycles specified in Clause 1, Article 68 of this Circular based on the output components as follows:

a) Power output of hourly contract of power plant in the transaction cycle i() is determined as specified in Article 36 of this Circular.

b) Power output paid at the market power price (Qsmpi) of the power plant in the transaction cycle i determined as specified in Clause 5, Article 68 of this Circular;

c) Metered power output of the power plant in the transaction cycle i().

2. The components of power output in service of payment in the market are adjusted in the following cases:

a) In case in the transaction cycle i, the metered power output of the power plant is less than or equal to the power output of hourly contract (≤ );

b) In case in the transaction cycle i, the metered power output of the power plant is greater than the power output of hourly contract (> ) and the power output paid at the market power price of the power plant is less than the hourly contract output (< ).

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a) In case specified at Point a, Clause 2 of this Article, the incrementally generated power output (Qconi) and the power output paid at the offering price for the plant having offering price higher than the market ceiling price (Qbpi) adjusted in this transaction cycle is zero (Qconi = 0; Qbpi = 0);

b) In case specified at Point a, Clause 2 of this Article, the power output in service of payment in electricity market is adjusted on the principle to ensure no change of metered power output in this transaction cycle and under regulation in the process of mobilization schedule of generating sets, real time operation and payment calculation in electricity market.

Article 70. Payment of market power

1. The electricity system and market operating unit shall calculate the total of payments of market power of the power plant in the payment cycle by the following formula:

In which:

Rg: Total of payments of market power in the payment cycle (dong);

Rsmp: Payment for the portion of output to be paid at market power price in the payment cycle (dong);

Rbp: Payment for the output to be paid at the offering price for thermal power plants having offering price higher than the market ceiling price in the payment cycle (dong);

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Rdu: Payment for the different power output compared with the output mobilized by the order of regulation in the payment cycle (dong);

2. Payment for the output to be paid at the market power price of the power plant in the payment cycle determined by the following order:

a) Calculating each transaction cycle by the following formula:

In which:

: Payment for the output to be paid at the market power price of the power plant in the payment cycle i in the payment cycle (dong);

SMP_i : Market power price of transaction cycle i in the payment cycle (dong/kWh);

: Power output paid at the market power price of the transaction cycle i in the payment cycle (kWh);

b) Calculating the payment cycle by the following formula:

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In which:

: Payment for the output to be paid at the market power price of the power plant in the payment cycle (dong);

i: Ith transaction cycle in the payment cycle;

I: Total transaction cycles of the payment cycle;

: Payment for the output to be paid at the market power price of the power plant in the payment cycle i in the payment cycle (dong);

3. Payment for the output to be paid at the offering price for thermal power plant having the offering price higher than the market ceiling price in the payment cycle determined by the following order:

a) Calculating each transaction cycle by the following formula:

In which:

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j: Jth offering range in the price offering of the sets of the thermal power plant having the offering price higher than the market ceiling price and arranged in the schedule of calculation of market power price.

J: Total offering ranges in the price quotation of the thermal power plant having the offering price higher than the market ceiling price and arranged in the schedule of calculation of market power price.

: Offering price in proportion to the offering range j in the quotation of the sets of the thermal power plant g in transaction cycle i (dong/kWh);

: The highest rate of offering in the ranges arranged in the schedule of calculation of market power price of thermal power plant in the transaction cycle i (dong/kWh);

: Total capacity offered at a price in the quotation of thermal power plant mobilized in transaction cycle i and converted to the metering position (kWh);

: Total power output having offering price higher than market ceiling price of thermal power plant in transaction cycle i (kWh).

b) Calculating each payment cycle by the following formula:

In which:

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i: Transaction cycle i in which the power plant is mobilized at the offering price higher than ceiling price;

I: Total transaction cycles in which the power plant is mobilized at the offering price higher than ceiling price;

: Payment for the power offered higher than the ceiling price of the power plant in the transaction cycle i (dong);

4. Payment for incrementally generated power output of the power plant in the transaction cycle determined by the following order:

Calculating each transaction cycle by the following formula:

In which:

: Payment for incrementally generated power output in the transaction cycle i (dong);

g: Added generating sets of power plant in the transaction cycle i;

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: Incrementally generated power of the set g in the transaction cycle i (kWh);

: Highest offering price in proportion to the incrementally generated capacity range of the set g in the transaction cycle i (dong/kWh).

Calculating each payment cycle by the following formula:

In which:

Rcon: Payment for the incrementally generated power output in the payment cycle (dong);

i:ith transaction cycle of the payment cycle in which the thermal power plant must increase generation by the order of regulation;

I: Total transaction cycles of the payment cycle in which the thermal power plant must increase generation by the order of regulation;

Rconi : Payment for the incrementally generated power output in the transaction cycle i (dong).

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6. Payment for the different power output compared with the output mobilized by the order of regulation of the power plant in the transaction cycle.

Calculating each transaction cycle by the following formula:

In case the power output incrementally generated compared with the order of regulation:

In which:

: Payment for the different power output compared with the order of regulation in the transaction cycle i (dong);

g: Added generating set compared with the order of regulation of the power plant in the transaction cycle i.

G: Total added generating set compared with the order of regulation of the power plant in the transaction cycle i;

: Incrementally generated power compared with the order of regulation of the set g in the transaction cycle i;

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In case the generated power output decreases compared with the order of regulation:

In which:

: Payment for the different power output compared with the order of regulation in the transaction cycle i (dong);

g: Generating set reduced compared with the order of regulation in the transaction cycle i;

G: Total generating set reduced compared with the order of regulation in the transaction cycle i;

: Generated power output decreases compared with the order of regulation of the set g in the transaction cycle i(kWh);

SMPi : Market power price in the transaction cycle i (dong/kWh);

Pbpi,max: Offering price of the most expensive set paid in the transaction cycle i.

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In which:

: Payment for the different power output compared with the order or regulation in the payment cycle (dong);

i: ith transaction cycle of the payment cycle in which the thermal power plant of different generation compared with the order of regulation;

I: Total transaction cycles of the payment cycle in which the thermal power plant of different generation compared with the order of regulation;

: Payment for the different power output compared with the output mobilized by the order of regulation in the transaction cycle i (dong)

Article 71. Payment of market capacity

The electricity system and market operating unit shall calculate the payment of market capacity for the power plant in the payment cycle in the order as follows:

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In which:

: Payment of capacity to the power plant in the transaction cycle i (dong);

g: Set of power plant is paid at capacity price.

G: Total sets of the power plant are paid at capacity price.

: Market capacity price in the transaction cycle i (dong/kW)

: Amount of payment capacity of the set g in the transaction cycle i (kW)

2. Calculating each payment cycle by the following formula:

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Rcan: Payment of capacity to the power plant in the payment cycle (dong);

i: ith transaction cycle in the payment cycle;

I: Total transaction cycles in the payment cycle;

Rcani : Payment of capacity to the power plant in the transaction cycle i (dong).

Article 72. Payment under power sale and purchase contract for difference

Based on the market power price and market capacity price published by the electricity system and market operating unit, the generating unit shall calculate the payment under the power sale and purchase contract for difference in the payment cycle in the order as follows:

Calculating each transaction cycle by the following formula:

In which:

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: Power output paid under contract price in the transaction cycle i (kWh);

P­c: Difference power sale and purchase contract price (dong/kWh). For hydropower plants, this contract price excludes water resource tax and fees of forestry environment;

SMP_i: Market power price in transaction cycle i (dong/kWh);

CAN_i: Market capacity price in transaction cycle i (dong/kWh);

Calculating each payment cycle by the following formula:

In which:

Rc: Difference payment in the payment cycle (dong);

i: ith transaction cycle of the payment cycle;

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: Difference payment in the transaction cycle i (dong).

Article 73. Payment made upon interference in electricity market

1. In case the market interference time is less than 24 hours, the generating unit receives the payments specified in Article 69, 71 and 72 at the market power price and amount of payment capacity specified in Article 67 of this Circular.

2. In case the market interference time is greater than or equal to 24 hours, the generating unit is paid under contract price for the entire metered power output

Article 74. Payment made upon stoppage of electricity market

During the time of stoppage of electricity market, the generating unit is paid under contract price for entire metered power output.

Section 4. PAYMENT OF AUXILIARY SERVICES AND OTHER PAYMENTS

Article 75. Payment of opportunity cost for rotation backup service

1. The electricity system and market operating unit shall calculate the payment of opportunity cost for the generating unit providing the rotation backup service in the payment cycle in the order as follows:

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In which:

Rspni : Payment of opportunity cost for the generating unit in the transaction cycle i (dong);

g: Set providing rotation backup service of the generating unit in the transaction cycle i;

G: Total sets providing rotation backup service of the generating unit in the transaction cycle i;

: Scheduling capacity providing rotation backup service of the set g in the transaction cycle i according to hour-ahead mobilization schedule (kWh);

: Opportunity cost in the transaction cycle i of the set g (dong/kWh). The opportunity cost is calculated as follows

In which:

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: Highest offering price among rates of offering price in proportion to capacity ranges providing the rotation backup service (dong/kWh).

b) Calculating each payment cycle by the following formula:

In which:

: Payment of opportunity cost in the payment cycle (dong);

i: ith transaction cycle in the payment cycle in which the generating unit provides the rotation backup;

I: Total transaction cycles in the payment cycle in which the generating unit provides the rotation backup;

Rspn_i :Payment of opportunity cost in the transaction cycle i (dong).

2. Opportunity cost only paid for thermoelectric sets providing the rotation backup;

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The Units providing quick startup backup service, cold backup service, operational services to be generated due to security binding of electricity system shall be paid under auxiliary service supply contract signed between the electricity system and market operating unit and the generating unit under the form issued by the Ministry of Industry and Trade.

Article 77. Payment for multi-objective strategic hydropower plant

Payment for multi-objective strategic hydropower plant is made under under the power sale and purchase contract signed with the unique wholesaling unit.

Article 78. Payment for hydropower plants with regulating reservoir of less than 02 days.

The electricity system and market operating unit shall calculate the payment of revenue for plants with regulating reservoir of less than 02 days by the following formula:

a) Calculating each transaction cycle by the following formula:

Rgi = Pc × (Qhci × α) + (CANi + SMPi) × (Qhci ×(1 - α)) + Rdui

In which:

Rgi: Payment for plants with regulating reservoir of less than 02 days in the transaction cycle i (dong);

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Qhci : Adjusted power output in the transaction cycle i(kWh) is determined as follows:

- In case Qdui > 0, Qhci = Qmi - Qdui;

- In case Qdui ≤ 0, Qhci = Qmi.

Qmi: Power output at the point of delivery in the transaction cycle i (kWh);

Qdui: Different power output compared with the order of regulation (kWh) in the transaction cycle i.

Rdui: Payment made for the different power output compared with the output mobilized by the order of regulation in the transaction cycle i.

SMPi: Market power price in the transaction cycle i (dong/kWh);

CANi: Market capacity price in the transaction cycle i (dong/kWh);

α: Rate of power output paid under contract price for hydropower plants published by the Department of electricity regulation

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In which:

: Payment made for the plant with regulating reservoir of less than 02 days (dong);

i: ith transaction cycle of the payment cycle;

I: Total transaction cycles of the payment cycle;

Rgi : Payment made for the plant with regulating reservoir of less than 02 days in the transaction cycle i (dong);

Article 79. Other payments

1. The generating unit which has generating set or receives reactive capacity in the mode of synchronous compensation running is paid for the amount of active power received from the grid as specified in the power sale and purchase contract.

2. The thermalelectric set forced to be stopped as specified at Point d, Clause 3, d 54 of this Circular is paid with the startup cost at the rate of cost agreed between the unique wholesaling unit and generating unit. The electricity system and market operating unit shall publish the sets in this case.

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4. In case the gas turbine thermoelectric sets have the same steam tail with the single cycle operation time, operated with mixed fuel or not the main fuel on the requirement of the electricity system and market operating unit to ensure electricity system security, the payment for those transaction cycles shall not be implemented as specified in section 3, Chapter VI of this Circular. The payment for the gas turbine plant in this cycle is made at the power price in the power sale and purchase contract signed with the unique wholesaling unit in proportion to the set configure upon single cycle operation, operation with mixed fuel or not with main fuel.

5. In case the power plant has generating set separated from the national power system and connected to the grid purchased from foreign country, the entire generation output of the power plant in the transaction day shall be paid under the power sale and purchase contract price.

6. In case the set must reduce its capacity but the cause is not due to the fault of the plant which does not ensure the hourly contract output, the hourly contract output applicable to the payment in the electricity market of the plant is adjusted by the actually generated output of the plant in that transaction cycle. In case the set has to re-start up and then is paid its startup cost at the rate of cost agreed between the unique wholesaling unit and generating unit.

7. In case the plant has a testing generating set.

a) In case the testing set has technical binding and affects the generation capacity of the other sets of the plant during the testing process, the entire plant shall be separated from the electricity market in the testing running. All generation output of the plant to the grid in the testing cycles shall be paid as prescribed in the power sale and purchase contract signed with the unique wholesaling unit in proportion to the set configure and type of fuel used.

b) In case the testing set does not have technical binding and affects the generation capacity of the other sets of the plant during the testing process, that testing set shall be separated from the electricity market. All generation output of the testing set to the grid in the testing cycles shall be paid as prescribed in the power sale and purchase contract signed with the unique wholesaling unit in proportion to the set configure and type of fuel used. The other sets still participate in the electricity market and are paid as specified in section 3, Chapter VI of this Circular.

8. In case the gas turbine power plant must stop and re-start up as required by the power system during the time the set operates the single cycle with the mixed fuel or not with main fuel, the plant shall be paid with this startup cost as agreed between the generating unit and the unique wholesaling unit.

9. In case the set has a stoppage plan which has been approved but has to generate capacity as required by the electricity system and market operating unit to ensure the power system security, that entire plant shall be separated from the electricity market during the time of capacity generation as required by the electricity system and market operating unit. All generation output of the plant to the grid during this time shall be paid at the price in the power sale and purchase contract signed with the unique wholesaling unit.

Section 5. PAYMENT ORDER AND PROCEDURE

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Before 9h00 on day D+2, the electricity system and market operating unit shall review and provide the unique wholesaling unit and generating units with the data in service of the calculation of payment to each power plant specified in Appendix VI of this Circular.

Article 81. Payment list of electricity market for transaction day

1. Before day D+4, the electricity system and market operating unit shall prepare and send the unique wholesaling unit and generating units the preliminary payment list of electricity market payment for that transaction day under the form specified in Appendix IV of this Circular.

2. Before day D+6, the generating unit of direct transaction and the unique wholesaling unit shall certify the payment list of electricity market specified on the website of electricity market and notify the electricity system and market operating unit of the mistakes in the preliminary payment list of electricity market (if any).

3. On day D+6, the electricity system and market operating unit shall prepare and send the completed list of electricity market payment for day D to the unique wholesaling unit and generating units.

Article 82. Payment list of electricity market for the payment cycle.

1. The electricity system and market operating unit shall review payment data for all transaction days in the payment cycle and check and compare with the record of power output review provided by the power metering data management unit.

2. Within 10 working days after the last transaction day of the payment cycle, the electricity system and market operating unit shall prepare and issue the payment list of power market for the payment cycle.

3. The payment list of power market for the payment cycle includes the list of payment for each transaction day and the summary under the form specified in the Appendix V of this Circular and the written certification of meter index and power output.

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1. The generating unit of direct transaction shall prepare and send the payment voucher of electricty market to the unique wholesaling unit based on the payment list of electricity market for the payment cycle.

2. The generating unit shall prepare and send payment voucher of contract to the unique wholesaling unit as prescribed in the power sale and purchase contract signed between the unique wholesaling unit and the generating unit.

3. Before the 20th day of each month, the generating unit shall prepare and send payment voucher to the unique wholesaling unit. The payment voucher includes the payments of electricity market and contract payment in the payment cycle.

Article 84. Payment dossier for auxiliary service supply contract

The generating unit shall prepare the payment dossier of auxiliary service under the auxiliary service supply contract between the generating unit and the electricity system and market operating unit;

Article 85. Adjustment of voucher

1. In case there are errors on the voucher, the generating unit or the unique wholesaling unit has the right to request the adjustment of the voucher within 01 month from the date of issuance. The parties concerned shall coordinate to determine and agree on the adjusted payments.

2. The generating unit shall supplement the adjusted payment in the voucher of the subsequent payment cycle.

Article 86. Payment

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2. The generating unit and the unique wholesaling unit shall make agreement on the payment method in the electricity market in accordance with the provisions in this Circular and the relevant regulations;

3. In case the payment is due but the electricity system and market operating unit has not issued the monthly payment list, the unique wholesaling unit and the generating unit shall temporarily make payment for the entire output actually generated in the payment cycle at the price of the power sale and purchase contract signed between the two parties and finalize the difference of electricity bill in the subsequent months.

Article 87. Handling errors in payment

In case of excessive or inadequate payment compared with the voucher, the units concerned shall handle these errors as prescribed in the power sale and purchase contract or auxiliary service supply contract.

Chapter VII

SOFTWARE FOR OPERATION OF ELECTRICITY MARKET

Article 88. Software for operation of electricity market

1. Software for operation of electricity market includes:

a) Market simulation model;

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c) Mobilization scheduling software and regulation;

d) Software in service of calculation of payment;

e) Other softwares in service of market operation

2. The electricity system and market operating unit shal develop and operate softwares in service of electricity market .

Article 89. Requirements on the software for operation of electricity market

1. Ensuring the precision, reliability, security, and meeting the standards set by the electricity system and market operating unit.

2. Having attached technical guidelines and operating procedures

Article 90. Development of softwares for the operation of the electricity market

1. The softwares for market operation must be developed to support the implementation of calculation and transaction specified in this Circular and operational process of electricity market.

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a) Building standards for the softwares for the operation of electricity market.

b) Appraising and checking the response ability of the software for standards specified at Point a of this Clause before application;

c) Publishing list and algorithms and process using software for the operation of the electricity market.

Article 91. Software auditing

1. The softwares serving the market must be audited in the following cases:

a) Before the power market is officially put into operation;

b) Before the new softwares are put into use;

c) After adjustment and upgrade affecting the calculation;

d) Periodical audit

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3. The electricity system and market operating unit shall publish the auditing result to the electricity market participants.

Chapter VIII

ELECTRICITY MARKET INFORMATION SYSTEM AND REGULATION ON INFORMATION PUBLICATION

Section 1. ELECTRICITY MARKET INFORMATION SYSTEM

Article 92. Structure of electricity market information system

The electricity market information system includes the following basic components:

1. Software and hardware system in service of management and exchange of electricity market information.

2. System of database and storage

3. Electronic portal for electricity market, including the internal website and public website.

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1. The electricity system and market operating unit shall build, manage and operate the electricity market information system.

2. The electricity market participants shall invest in equipment in the scope of management to meet technical requirements regulated by the electricity system and market operating unit to ensure the connection to the electricity market information system.

3. The power metering data management unit shall develop, manage and operate the transmission network connecting between the electricity market information system of the electricity system and market operating unit and equipment of the electricity market participants.

4. The electricity system and market operating unit only operates or changes the current electricity market information system after complete acceptance and is approved by the Department of electricity regulation.

The electricity system and market operating unit shall be equipped with backup equipment for the electricity market information system to ensure the collection, transmission and publication of the main market information in case the electricity market information system has problems or can not be operated.

Section 2. MANAGEMENT AND PUBLICATION OF ELECTRICITY MARKET INFORMATION

Article 94. Supply and publication of electricity market information

1. The generating unit, the unique wholesaling unit, the power transmission unit and the power metering data management unit shall provide the electricity system and market operating unit with information, data in service of operation planning mobilization schedule and calculation of payment specified in this Circular through electronic portal of electricity market information system.

2. The electricity system and market operating unit shall supply and publish information, data and reports on electricity market operation to the electricity market participants specified in this Circular through electronic portal of electricity market information system.

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4. The electricity system and market operating unit shall publish on the public websites the following information:

a) Information about the electricity market participants;

b) Data of system subloading;

c) Statistical data on the market price;

d) Other information specified in the Process of management and operation of information technology systems of electricity market operation and publication of electricity market.

Article 95. Responsibilities for assurance of accuracy of electricity market information

1. The market participants shall ensure the accuracy and completeness of the electricity market information at the time of supply.

2. In case the information supplied and published is not correct and complete, the market participants shall correct and provide correct information again to the unit concerned.

Article 96. Security of electricity market information

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a) Information on power sale and purchase contract;

b) Quotation price of the generating unit before the end of transaction day;

c) Other information beyond the competence

2. The electricity market participants must not disclose information beyond the scope of authorization of supply and publication.

Article 97. Cases of exemption from information security

1. Supply of information as required by the Department of electricity regulation or competent agency as prescribed by law.

2. Information summarized and analyzed from information published on electricity market, not by electricity market participants not in accordance with Article 96 of this Circular.

Article 98. Storage of electricity market information

The electricity system and market operating unit is responsible for storing all activities of information exchange through the electricity market information system. The duration for information storage is at least 05 years.

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Article 99. Publication of information on electricity market operation

The electricity system and market operating unit shall periodically prepare and publish information on electricity market operation specified in the Process of electricity market information system operation as follows:

1. Before 15h00 daily, preparing and publishing report on electricity market operation of the previous day.

2. Before Tuesday weekly, preparing and publishing report on electricity market operation of the previous week.

3. Before the 10th date monthly, preparing and publishing report on electricity market operation of the previous month.

4. Before the January 31st date annually, preparing and publishing report on electricity market operation of the previous year.

Article 100. Regime of report on electricity market operation.

1. Before the 10th date monthly, the electricity system and market operating unit shall send the Department of electricity regulation a report on electricity system and market operation of the previous month under the form specified by Department of electricity regulation.

2. Before the October 31st date annually, the electricity system and market operating unit shall send the Department of electricity regulation a report on electricity system and market operation of the previous year under the form specified by Department of electricity regulation.

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4. The electricity system and market operating unit shall make an irregular report on the electricity maket and system operation as required by the Department of electricity regulation.

Article 101. Data audit and compliance in electricity market

1. Periodic audit

Before March 31st date annually, the electricity system and market operating unit shall organize the implementation and completion of data audit and compliance in electricity market of the previous year. The content of annual audit includes:

a) Data audit, process of calculation of the electricity system and market operating unit in the electricity market, including:

- Data for the process of calculation in the electricity market;

- Step of calculation;

- Result of calculation.

b) Compliance audit of the electricity system and market operating unit for the order and procedures specified in this Circular.

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The Department of electricity regulation has the right to require the electricity system and market operating unit to implement the irregular audit according to the contents and scope of audit specifically in the following cases:

a) Upon detection of abnormal signs in electricity market operation;

b) At the request of the electricity market participants. The order of implementation is as follows:

- The electricity market participants shall send written request to the Department of electricity regulation specifying the content and reason for auditing request.

- Within 30 days after receiving the written request, the Department of electricity regulation shall consider and have written approval or disapproval for the auditing request specifying the contents and scope of audit or reason for disapproval.

3. The electricity system and market operating unit shall recommend a qualified independent audit unit to implement contents of electricity market audit for submission to the Departmen of electricity regulationfor approval.

4. Electricity market participants shall fully coordinate during electricity market audit

5. Audit cost

a) To be paid by the electricity system and market operating unit in cases of audit specified in Clause 1 and Point a, Clause 2 of this Article.

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6. Within 10 days after the end of audit, the electricity system and market operating unit shall send report on audit to the Department of electricity regulation and units concerned.

Chapter IX

SETTLEMENT OF DISPUTE AND HANDLING OF VIOLATION

Section 1. SETTLEMENT OF DISPUTE

Article 102. Order to settle disputes in electricity market.

1. Disputes arising in electricity market shall be settled by Regulation on order, procedures for settlement of dispute in electricity market.

2. Before settlement of dispute specified in Clause 1 of this Article, the parties shall negotiate to settle disputes by themselves within 60 days in one of the following forms:

a) Negotiation;

b) Reconciliation through intermediary. The parties may invite qualified experts or request the Department of Eelectricity regulation to appoint officials for reconciliation.

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1. Making agreement on the form of settlement of dispute by themselves, the time and location for negotiation.

2. Providing complete, honest, correct and necessary information and documents related to the content of dispute.

3. Giving legitimate evidence to protect the lawful rights and interests.

4. Participating in negotiation with the spirit of goodwill and cooperation.

5. During settlement of dispute, if detecting the dispute with violation signs of regulation on electricity market, the detecting party shall notify the other party to stop the self settlement of dispute and make report to the Department of electricity regulation.

Article 104. Notification of dispute and preparation for negotiation

1. When dispute arises, the requesting party shall notify in writing to the requested party of disputes and require settlement of that dispute and send 01 (one) copy to the Department of electricity regulation for report.

2. Within 15 days after receipt of notification, the parties shall make agreement on the form of settlement of dispute, the contents to be settled, the time and location of negotiation. In case of choosing the form of reconciliation through intermediary, the parties shall agree on selection of intermediary for reconciliation. The parties have the right to change the intermediary before the expected time of reconciliation agreed.

Article 105. Organization of self settlement of dispute

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The parties shall exchange and make agreement on the contents needing settlement.

2. Reconciliation

a) The parties shall select intermediary and agree upon the intermediary’s responsibilities.

b) The parties shall provide the intermediary with the contents of dispute, information and documents related to the dispute and requirement on settlement of each party;

c) The parties may agree upon the intermediary’s settlement; require the intermediary to modify and supplement the settlement or make agreement by themselves for a new settlement.

Article 106. Record of self settlement of dispute

1. After the end of self settlement of dispute or the expiration of self settlement of dispute, the parties shall make record of self settlement of dispute including the following contents:

a) Time and location of settlement of dispute;

b) Name and address of the parties involved in settlement of dispute;

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d) Requesting contents of the parties;

dd) Contents agreed upon by the parties;

e) Contents not agreed upon by the parties and the reason for that.

2. Within 05 days after the record is made, the parties shall send 01 (one) copy to the Department of electricity regulation for report.

Article 107. Settlement of dispute at the Department of electricity regulation

1. The parties have the right to submit the case to the Department of electricity regulation for settlement of dispute in the following cases:

a) Upon expiration of self settlement of dispute specified in Clause 2, Article 102 of this Circular but the dispute is not successfully settled or the dispute cannot be settled due to the absence of one party in the self settlement of dispute.

b) One party does not implement the contents agreed upon in the Record of self settlement of dispute.

2. After receiving valid dossier for settlement of dispute as prescribed, the Department of electricity regulation shall settle dispute in the order and procedures prescribed in Regulation on order, procedures for settlement of dispute in electricity market.

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Article 108. Violation detection and report

1. The acts of violation in the electricity market if detected must be reported in writing to the Department of electricity regulation.

2. Content of report on acts of violation:

a) Date, month and year of report;

b) Name, address of organization and individual that makes report;

c) Name, address of organization and individual that carries out acts with signs of violation;

d) Description of acts with signs of violation;

dd) Time, location of acts with signs of violation;

e) Reason for knowing the acts with signs of violation;

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1. Within 05 days after the receipt of the case concerning acts with signs of violation, the Department of electricity regulation shall handle the case and must notify in writing in case of non-handling.

2. After handling of the case, the Department of electricity regulation shall investigate acts with signs of violation. During the investigation, the Department of electricity regulation has the right:

a) To require the unit with signs of violation and the units concerned to provide necessary information and documents in service of investigation.

b) To require the unit with signs of violation to make report;

c) To ask for appraisal and gather opinions from experts or agencies and units concerned.

d) To summon the unit with signs of violation and the units affected by acts of violation to gather opinions about the solution and remedy of acts of violation.

3. During investigation, the Department of electricity regulation shall maintain confifentiality of information and documents provided in accordance with the provision on information security in this Circular.

Article 110. Making record of legal violation

1. Within 30 working days from the day of investigation, the Department of electricity regulation shall end the investigation and make record of legal violation for acts of violation of regulation on electricity market operation. If the case has many complex details, the duration of investigation can be prolonged but not exceeding 45 working days from the day of investigation.

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In case the result of investigation shows that the acts reported did not violate the regulation on electricity market operation, the Department of electricity regulation shall stop the investigation and notify the organization and individual making report.

Article 111. Forms of violation sanction

1. The violating unit must bear one of the form and degree of sanction for each act of violation in accordance with regulation on sanction of legal violation in the electricity area.

2. For the power plant having acts of violation specified in Clause 1, Article 8 of this Circualr, in addition to be sanctioned as prescribed in Clause 1 of this Article, the right to participate in electricity market shall be suspended.

Article 112. Order and procedures for suspension of the right to participate in electricity market

1. In case the power plant has acts of violation specified in Clause 1, Article 8 of this Circular, within 05 working days after the Record of legal violation is made, the Department of electricity regulation shall consider and make a decision on suspension of the right to participate in electricity market of the power plant which has acts of violation and and send it to the vioating plant and the electricity system and market operating unit.

2. Within 01 day after the receipt of Decision on suspension of the right to participate in electricity market, the electricity system and market operating unit shall publish the suspension for the violating plant.

3. Upon expiration as specified in Clause 2, Article 111 of this Circular, if the plant has not remedied its violation, the Department of electricity regulation shall has the right to extend the suspension.

Chapter X

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Article 113. Implementation organization

1. Department of electricity regulation shall:

a) Disseminating, inspecting and monitoring the implementation of this Circular;

b) Make guidance or request the Ministerial leadership to guide the implementation arising or problems in the implementation of this Circular.

2. Vietnam Electricty Group shall direct the electricity system and market operating unit and the units concerned:

a) To review and adjust the technical processes for submission to the Department of electricity regulation for promulgation within 01 month from the effective day of this Circular, including:

- Process of week, month and year-ahead operation plan;

- Process of selection of the best new plant and calculation of market capacity price;

- Process of electricity market simulation;

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- Process of classification of set and calculation of ceiling price of quotation of the thermal power plant;

- Process of schedule mobilizing the generating sets, the real time operation and calculation of payment in the electricity market.

- Process of management and operation of information technology systems of electricity market operation and publication of electricity market.

b) To develop technical processes for submission to the Department of electricity regulation for issuance within 02 months from the effective day of this Circular, including:

- Process of comparison of payment data between the electricity system and market operating unit, the generating units and the unique wholesaling unit.

- Process of calculation of the limited water level of hydroelectric reservoir and the security power of hydropower plant;

- Process of electricity market participation registration;

- Process of optimizing the use of gas fuel resource in service of day-ahead mobilization schedule.

- Process of coordination to certify events in service of payment in the electricity market.

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3. The unit participating in electricity market shall complete equipment and information in accordance with the electricity market information system specified in this Circular.

4. The unit participating in electricity market shall sign power sale and purchase contract under the form issued by the Ministry of Industry and Trade for the electricity market.

5. In the course of implementation of this Circular, if there is any problem, new content arising, the units concerned shall make a report to the Department of electricity regulation for study, proposal and submission to the Ministry of Industry and Trade for amendment and supplementation of this Circular accordingly. The units concerned shall implement the guidelines specified at Point b, Clause 1 of this Article to the point of time of issuance of the Circular amended and supplemented

Article 114. Effect

1. This Circular takes effect on March 25, 2013 and supersedes Circular No. 18/2010/TT-BCT dated May 10, 2010 of the Minister of Industry and Trade stipulating the operation of competitive generation market and Circular 45/2011/TT-BCT dated December 30, 2011, amending and supplementing a number of Article of Circular No. 18/2010/TT-BCT 10 dated May 10, 2010 of the Minister of Industry and Trade stipulating the operation of competitive generation market and the guiding and directing documents issued by the Ministry of Industry and Trade to implement Circular 18/2010/TT-BCT May 10, 2010 of the Minister of Industry and Trade stipulating the operation of competitive generation markets and Circular 45/2011/TT-BCT dated December 30, 2011, amending and supplementing a number of Article of Circular No. 18/2010/TT-BCT dated May 10, 2010 of the Minister of Industry and Trade stipulating the operation of competitive generation market

2. Director of Department electricity regulation, Chief of Ministerial office, Ministerial Chief Inspector, Directors of Departments, Director of the General Department of Energy, heads of units concerned of the Ministry of Industry and Trade and organizations and individuals are liable to execute this Circular

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