Sociotechnical imaginaries and national energy policies

The input price of imported liquefied natural gas (LNG) fluctuates between 15-20 cents/kW while the saleable electricity price is currently 6-7 cents/kW only. This will be an obstacle in the future because Electricity of Vietnam (EVN) will have to buy high and sell low. Despite the mandatory use of the standard form wholesale market power purchase agreement (PPA), complete with untenable fuel cost pass-through clauses being imposed on would-be LNG project sponsors, the market will never accept the proposition. Prime Minister Pham Minh Chinh questioned why the latest draft of the Power Development Plan VIII (PDP8) seeks to effectively block any new solar power projects until 2030, since “solar power costs are getting cheaper and cheaper, and energy storage battery technology is becoming more advanced at more acceptable pricing”. The LNG gas power project is scheduled to start construction in the second quarter of 2022 According to calculations by the Ministry of … [Read more...] about Developers expect smoother LNG policy planning

South Korea's new president, Yoon Suk-yeol, has rejected the idea of phasing out nuclear energy and made it a key pledge of his campaign to boost investment in the industry and revive its status as a key exporter of safe reactors. The U-turn in Asia's fourth-largest economy towards a pro-nuclear energy policy comes after Yoon won the March presidential election by the smallest margin in South Korea's democratic history. The previous Seoul administration sought to reduce the role of nuclear power in the wake of Japan's Fukushima disaster in 2011, which triggered a global downturn in the nuclear power industry. The ministry said on Tuesday South Korea will resume construction work on two new reactors, Shin Hanul 3 and 4, and extend the operations of existing reactors. While boosting the role of nuclear energy, the country plans to reduce its reliance on fossil fuel imports from 81.8 percent in 2021 to around 60 percent by 2030, the ministry said. "As the global carbon … [Read more...] about S.Korea to lift nuclear share of energy mix to 30 pct by 2030 from 27 pct last year

Providing a fresh perspective on how the transition could be executed effectively, the US Embassy shared its experiences in developing policy regarding transformation and potential support. The US is willing to share its technology, capital, and policy/technical expertise to help Vietnam in energy transition, Sean M. Lawlor, an energy officer at Econ-ESTH Section from the US Embassy in Vietnam said at a conference held in Hanoi this week. The conference themed “Strategies & Partnerships to accelerate Vietnam’s energy transition” was jointly organized by Cong Thuong Newspaper and GE Vietnam, one of the first American companies opening representative office in Hanoi in 1993, even before the US embargo was lifted. “The US initiated the energy switch more than a decade ago and has reported a drop in the use of coal by half, a jump of natural gas to 38% in the country’s energy mix, and clean energy solutions as favored by the government," Sean M. Lawlor said. He added that … [Read more...] about US willing to share technology to help Vietnam in energy transition

Illustrative image. (Photo: VNA) Hanoi (VNA) – Energy transition will play a key role in implementing the United Nation’s Sustainable Development Goals, contributing to the net-zero emission target set for 2050, said Tang The Cuong, director general of the Ministry of Natural Resources and Environment’s Department of Climate Change. In his message to a recent webinar themed “Asia: Renewable Energy Continent”, Cuong suggested seven focus points to fully unleash the potential of renewable energy , as well as accelerate the transition from fossil fuels to renewable energy. First, renewable energy needs to become a public commodity benefits all people, so that everyone has access to renewable energy. In particular, communities and groups that are adversely affected by energy transition need to be provided with support. Second, it is necessary to promote cooperation between countries in removing barriers, including those in intellectual property rights, to spur the sharing … [Read more...] about More efforts needed to tap renewable energy potential: Ministry

Germany helped Vietnam initiate its Smart Grid roadmap in 2017 when the Southeast Asian country did not yet have a complete energy transition concept and had not yet committed to net zero. Germany has a strong interest in supporting sustainable development in middle-income countries such as Vietnam, focusing on policy development, capacity improvement, and the promotion of technology cooperation and transfer. Smart Grid in Vietnam. Photos: GIZ The idea has been raised by Tobias Cossen, Programme Director of the GIZ Energy Support Programme (ESP), a partnership established in 2013 between Vietnam’s Ministry of Industry and Trade (MOIT) and the Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ) GmbH after the two countries listed energy one of their cooperation priorities since. ESP, which focuses on renewable energy and energy efficiency, aims to contribute to Vietnam’s emissions reduction strategy and green growth strategy by improving the … [Read more...] about Vietnam – Germany, dynamic duo for energy transition: GIZ

National Assembly Chairman Vuong Dinh Hue holds talk with the Prudential management led by chairwoman Shriti Vadera, Interim Group CEO Mark FitzPatrick and Prudential Vietnam CEO Phuong Tien Minh, during his visit to the UK. — VNA/VNS Photos Doan Tan Photos Doan Tan Prudential plc executives called on National Assembly Chairman Vuong Dinh Hue and the high-level delegation he led to Britain to attend the Vietnam – UK High-level Forum on Economy and Trade to discuss the Vietnamese Government’s priorities and the role of insurers in increasing financial inclusion in the country. This meeting was aimed at strengthening relationships and underlining Prudential’s commitment to Viet Nam. After the two-year-long COVID-19 pandemic, Prudential is focusing on building a resilient business to best serve its customers. Insurers like Prudential play an important role in developing innovative savings and protection products to meet Vietnam’s evolving needs while strengthening and deepening … [Read more...] about National Assembly chief Vuong Dinh Hue meets Prudential brass during UK visit