Vietnam establishes separate power price framework for standalone battery energy storage systems

Detailed summary

The Ministry of Industry and Trade has issued Decision No. 2987/QD-BCT, approving the power generation price framework for standalone Battery Energy Storage ...

Previously viewed as a supplementary technical component, battery energy storage systems (BESS) are now being redefined as an energy service with its own pricing methodology and power purchase agreement framework under a new mechanism.

The Ministry of Industry and Trade has issued Decision No. 2987/QD-BCT, approving the power generation price framework for standalone Battery Energy Storage Systems (BESS) for 2026. Accordingly, the maximum price (excluding Value Added Tax) is VND3,209.98 (around $0.12) per kWh, effective from November 11, 2026.

The electricity price framework under Decision 2987 is specifically for independent energy storage systems not connected to any generation source. This maximum price provides a legal basis for developing large-scale electricity storage projects to serve the national power system.

This marks the first time a specific electricity price framework has been established for BESS. Decision 2987 follows the Ministry's Decision 2946/QD-BCT, issued on November 5, 2026, which approved the solar power price framework for 2026, distinguishing prices for projects with and without storage systems. The issuance of these two decisions for different power sources within the same period indicates a national energy policy expanding in two parallel directions: encouraging BESS integration into solar power projects while creating a separate pricing basis for standalone storage systems.

The VND3,209.98/kWh rate is the maximum price applicable to standalone BESS. For solar power combined with BESS, the maximum prices vary by region: VND1,813.48/kWh for the North, VND1,469.90/kWh for the Central region, and VND1,254.97/kWh for the South. For floating solar power combined with BESS, the corresponding rates are VND2,120.31/kWh, VND1,703.21/kWh, and VND1,461.39/kWh.

These are ceiling prices, not fixed rates. The actual power generation service price for each project will be determined by the method specified in Circular 62/2025/TT-BCT, based on investment…

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