Power planning VIII sets out the goal of firmly ensuring national energy security, meeting the requirements of socio-economic development and industrialization and modernization of the country. Along with that, successfully implementing equitable energy transition associated with production modernization, smart grid construction, advanced power system management, in line with the trend of green transition, emission reduction, scientific and technological development of the world. At the same time, forming an overall energy industry ecosystem based on renewable energy, new energy.

In particular, about the goal of ensuring national energy security, supplying sufficient electricity demand in the country, meeting the goal of socio-economic development with an average GDP growth of about 7%/year in the period 2021-2030, about 6.5-7.5%/year in the period 2031-2050; Ensure safe and reliable power supply. By 2030, the reliability of electricity supply will be in the group of 4 leading countries in ASEAN, the electricity access index will be in the group of 3 leading countries in ASEAN; Striving to 2030, 50% of office buildings and 50% of residential houses will use self-produced and self-dissipating rooftop solar power (for on-site consumption, not selling electricity into the national electricity system).

For equitable energy transition, Power Master Plan VIII aims to strongly develop renewable energy sources for electricity production. Orientation to 2050, renewable energy rate up to 67.5-71.5%; Control greenhouse gas emissions from power generation to about 204-254 million tons by 2030 and to about 27-31 million tons by 2050. Towards peak emissions of no more than 170 million tons by 2030, provided that commitments under JETP are fully and substantively implemented by international partners; Building a smart grid system, capable of integrating and safely operating large-scale renewable energy sources.

Regarding the development of the industrial ecosystem and renewable energy services, it is expected that by 2030, two inter-regional renewable energy industrial and service centers will be formed, including electricity production, transmission and consumption; renewable energy equipment manufacturing industry, construction, installation, related services, building renewable energy industry ecosystem in areas with great potential such as the North, South Central, South Ministry when there are favorable conditions. In addition, developing renewable energy sources and producing new energy for export. Striving to 2030, the scale of electricity export capacity will reach about 5,000-10,000 MW.

To achieve the above objectives, the Electricity Master Plan VIII has also identified options for developing power sources, plans for developing electricity grids, linking the power grids with countries in the region, and orientations for rural electricity development. orientation of industrial and service ecological development on renewable energy, and capital needs. Accordingly, in the period of 2021-2030, it is estimated that the total investment in development of power sources and transmission grids is equivalent to 134.7 billion USD; Orientation for the period 2031-2050 is estimated that the investment capital for development of power source and transmission grid is equivalent to USD 399.2 – 523.1 billion, of which investment for power source is about 364.4-511.2 billion USD. USD, transmission grid about 34.8-38.6 billion USD, will be precise in the next planning.

According to the approved Decision, the Ministry of Industry and Trade is responsible for the accuracy of data, documents, diagrams, maps and databases in the planning dossier, ensuring consistency with the contents of the planning document. Decision; To organize the announcement of the planning according to regulations and implement the Decision in association with directing the implementation of socio-economic development tasks in accordance with the law, to develop a plan to implement the planning to implement the plan. implementation of set goals and tasks; To organize the assessment of the implementation of the planning in accordance with the provisions of the Law on Planning.

To assume the prime responsibility for, and coordinate with ministries, branches and localities in, completing the formulation and submitting to the Government the revised Electricity Law and the Law on Renewable Energy for submission to the National Assembly in 2024. Submit to the Government for promulgation policies on direct electricity purchase and sale. At the same time, assume the prime responsibility for, and coordinate with ministries, branches and People’s Committees of provinces and centrally run cities in continuing to work with investors, carefully reviewing the provisions of law, commitments , agreement between the parties to completely handle projects that are having difficulty in implementation, report to the Prime Minister on issues beyond its authority.

Power planning VIII was approved with a consistent view: Electricity is an important infrastructure sector, electricity development must be one step ahead, creating a foundation to promote rapid and sustainable development of the country and build an independent economy. self-reliance, improving the people’s living standards and ensuring national defense and security. The electricity development planning must have a long-term, effective, sustainable vision and put the interests of the nation and nation first and foremost.

To develop electricity on the principle of overall optimization of the factors of power source, power transmission, electricity distribution, economical and efficient use of electricity, with an appropriate roadmap in parallel with protection of natural resources and the environment. and transforming economic models, ensuring national energy security at the lowest cost.

Power development planning must be based on science, be inherited, dynamic and open but do not legitimize mistakes. Exploiting and effectively using domestic energy resources, combining with reasonable import and export, economical and efficient use of energy. Considering the development of renewable energy and new energy as an opportunity to develop the entire energy industry ecosystem.

The State concentrates on investing and encouraging all economic sectors to rapidly develop the electricity industry on the principle of healthy competition and implements the market mechanism on electricity selling prices, ensuring the harmony of interests of the participants. investors, use electricity and meet the development requirements of regions and regions.

Electricity development must closely follow the development trend of science and technology in the world, especially in terms of renewable energy and new energy, associated with the process of transforming the country’s economy towards a green economy. circular economy, low carbon economy. Energy transition must be in line with international trends and ensure sustainability, fairness and justice.