Transferring nearly 800 billion VND company to the Ministry of Industry and Trade

The National Power System Control Center (A0) is now transferred to the Ministry of Industry and Trade under the name of National Power System and Electricity Market Operation Company Limited (NSMO).

According to the decision, NSMO Company is a state-owned enterprise, with 100% of the charter capital held by the State at 776 billion VND.

When transferring, NSMO will also receive the current status of the National Power System Control Center's workforce from Vietnam Electricity Group - EVN.

This includes receiving the current status of A0's management apparatus on the basis of arranging A0's leadership and management staff into corresponding leadership positions of NSMO; inheriting all rights, obligations and legitimate interests of the Power System Dispatch Center that A0 and EVN are implementing related to A0 according to the law, including loans under the signed agreement.

After the transfer, the Ministry of Industry and Trade is responsible for ensuring the stable, continuous and effective operation of NSMO, and the safety of the power system. Relevant agencies shall study and consider, according to their authority, to ensure sufficient charter capital, supplement investment capital, and fulfill loan obligations...

Leaders of the Ministry of Industry and Trade, the State Capital Management Committee at Enterprises, and EVN presented flowers to the NSMO Board of Directors. Photo: Van Anh

The State Capital Management Committee at Enterprises also announced the decision to establish NSMO Company; the decision to transfer and appoint Mr. Nguyen Duc Cuong - member of the Board of Directors of EVN - as Chairman of NSMO; the decision to assign the authority of General Director of NSMO to Mr. Nguyen Duc Ninh - Director of Center A0.

EVN Chairman Dang Hoang An said that he will coordinate and support NSMO to absolutely ensure safe, stable and reliable operation of the power system; at the same time, continue to research and make recommendations to competent authorities to deploy feasible solutions, in accordance with the law, to support NSMO to operate stably and continuously after its establishment.

Mr. Nguyen Hoang Anh - Chairman of the State Capital Management Committee at Enterprises - said that the separation of A0 and the establishment of a company, transferred to the Ministry of Industry and Trade is not only a change in organizational structure, but also a big step forward and maturity of the Vietnamese electricity industry.

"This is an event of great significance, not only in the energy sector but also contributing to the sustainable development of the economy ," he said.

Minister of Industry and Trade Nguyen Hong Dien emphasized that the safe, stable and reliable dispatch and operation of the national electricity system and market is a very important task, under the authority of state management agencies to ensure objectivity, impartiality and fairness among affected subjects.

Therefore, the Government and the Prime Minister have decided to separate A0 from EVN and establish a 100% state-owned NSMO to operate independently from EVN. At the same time, the transfer of the right to represent the state capital ownership to the Ministry of Industry and Trade for management by the Ministry of Industry and Trade has full functions, apparatus and specialized human resources to effectively carry out this task.

"This is also an objective and inevitable requirement of the process of operating the national power system and the competitive electricity market according to the market mechanism as directed by the Prime Minister, thereby contributing to ensuring energy security, serving socio-economic development and people's lives," Minister Nguyen Hong Dien affirmed.

According to Minister Dien, although A0 (now NSMO) has been separated from EVN, both are state-owned enterprises, assigned the task of ensuring national electricity security under the state management of the Ministry of Industry and Trade and the State Capital Management Committee at enterprises.

Source: https://laodong.vn/kinh-doanh/chuyen-giao-cong-ty-gan-800-ti-dong-ve-bo-cong-thuong-1379648.ldo