POLICY PROPOSED FOR RENEWAL ENERGY MARKET IN VIETNAM BASED ON EPM MODEL

Abstract

Vietnam is a developing country with a high growth rate, so the demand for energy increases with the amount of greenhouse gas emissions. To realize the dual goal of ensuring a parallel growth rate with the decarbonization of the economy, Vietnam has been accelerating the transition to energy balance with all resources, while enhancing cooperation and support from development partners. According to Vietnam’s Eighth National Power Development Plan, the goal is to gradually reduce electricity using fossil fuels, giving priority to the development of renewable energy, new and clean energy. The development of mechanisms and policies for renewable energy development must be built continuously and in the long term, ensuring a fair energy transition, and meeting the country’s sustainable development requirements. However, at present, there is still no comprehensive approach to support strategic planners to develop speci¡c policies and mechanisms to promote renewable energy through the interaction of members, towards the electricity market innovation ecosystem and ancillary services. This article analyzes the structure of Vietnam’s electricity market, and its relationships, how members interact with each other, proposing policies for the renewable energy market in Vietnam and by Ecosystem Pie Model (EPM).