Vietnam to Require Thermal Power Plants in 4 Provinces to Pay Emission Fees

The Vietnamese government will require nine thermal power plants and 11 cement plants in the northern province of Quang Ninh and three central provinces of Thanh Hoa, Quang Nam, and Thua Thien-Hue to pay emission fees in the 2020-2022 period, state media reported. The move is under a new pilot scheme which was approved at a conference in Hanoi on August 7. Accordingly, thermal power firms will pay VND4 for each kilowatt per hour (kWh) generated, or $2 per ton of CO2, and while cement firms will pay VND2,100 per ton of clinker produced, or $1.35 per 1 ton of CO2. The fees would increase the production cost of those plants by 0.29%, said Mr. Nguyen Van Vu, head of Finance and Planning Department under Vietnam Administration of Forestry (VAF), adding the price hike would not affect much to the competitiveness and business efficiency of the firms. The four provinces expect to collect about VND172 billion a year from the fees. The amount could be used to support the local to boost forestation. Many of the firms have shown support to the scheme. However, they asked the authorities to ensure that the implementation would not affect the production plan of the companies next year. (BNews, BNews, Bao Chinh Phu, Thoi Bao Tai Chinh Viet Nam, Dan Viet, VietnamNews)