On August 1, 2024, the Prime Minister issued Decision No. 753/QD-TTg approving the policy of transferring the right to represent the state capital ownership at the National Power System and Electricity Market Operation Company Limited (NSMO) from the Commission for Management of State Capital at Enterprises to the Ministry of Industry and Trade.
Specifically, the Prime Minister has approved the policy of transferring the right to represent the state capital ownership at the National Power System and Electricity Market Operation Company Limited (NSMO) from the Commission for Management of State Capital at Enterprises (CMSC) to the Ministry of Industry and Trade after completing the transfer and establishment of NSMO in accordance with the laws and Decision No. 752/QD-TTg dated August 1, 2024, of the Prime Minister.
To execute the Decision, the Government requests relevant ministries, agencies, local authorities, and enterprises to be responsible for organizing the implementation of this Decision based on their functions, tasks, and authority in accordance with the laws, in which:
CMSC and the Ministry of Industry and Trade are responsible for the provisions relating to reporting and proposing; deciding and implementing the transfer of the right to represent the state capital ownership at NSMO from CMSC to the Ministry of Industry and Trade in accordance with legal regulations immediately after completing the transfer and establishment according to Decision No. 752/QD-TTg dated August 1, 2024, of the Prime Minister.
The Ministry of Industry and Trade is primarily responsible for preparing all necessary conditions to take over NSMO, including the mechanism to ensure working capital for NSMO in accordance with legal regulations, ensuring that NSMO continues to operate stably, continuously, and effectively after the transfer.
Taking the lead and coordinating with relevant ministries and agencies to issue under their authority or submit to competent authorities for issuance of legal documents serving the operation of NSMO, ensuring that NSMO operates stably, continuously, and effectively.
NSMO Company issues new relevant legal documents and guidelines serving the effective and safe operation of the power system.
The Ministry of Finance shall provide comments on the financial management regulations of NSMO as well as other relevant regulations.
The Ministries of Industry and Trade, Planning and Investment, and Finance shall, according to their functions, tasks, and authority, consider, handle or propose and submit to competent authorities mechanisms to support investment capital arrangements for NSMO, supplement charter capital for NSMO, guarantee or support loan mechanisms for projects implemented by NSMO, mechanisms for NSMO to access low-interest loans with long term grace periods and principal repayment periods in accordance with the legal regulations; in case of arising problems beyond their authority, promptly propose and report to the Prime Minister, ensuring that NSMO operates stably, continuously, and effectively, and perform assigned tasks.
The People's Committees of the cities: Hanoi, Ho Chi Minh City, and Da Nang consider the arrangement of land funds to build independent headquarters of NSMO and regional load dispatch centers according to regulations to ensure stable, long-term, and secured operation of the national power system and management of electricity market transactions.
The Chairman of CMSC, the Ministry of Industry and Trade, the Enterprise Manager of NSMO, Chairmans of the People's Committees of provinces and centrally run cities, and the Ministers, heads of ministries, agencies, organizations, and individuals concerned are responsible for execution.