PROJECT DESCRIPTION
The objective of the First Power Sector Reform Development Policy Operation Program is to support the Government of Vietnam's implementation of a market for electricity generation, restructuring of the power sector and reform of tariffs that will facilitate effective competition, transparency and predictability, encourage timely generation investment, improve system operational reserve, and provide incentives for efficient use of electricity. Vietnam is implementing an ambitious long term reform of its electric power sector, with the intention of discarding the model of a vertically-integrated utility owned by the state in favor of a competitive market. The purpose of the reform program is to attract a broader range of participants to invest in the power industry. Transparency and competition are to be introduced, tariffs will transition to recover costs, the main power utility will be restructured and demand side efficiency will be promoted. The expected outcome is that the power sector will be better equipped to support economic growth and meet demand for power in terms of quantity and quality, while ensuring reasonable and fair costs to consumers, and efficiency.
ADDITIONAL INFORMATION
For more information https//projects.worldbank.org/en/projects-operations/project-detail/P115874