Some challenges in implementing the National energy master plan – Referring to experiences from APEC countries

Abstract

After the 26th Conference of Parties to the United Nations Framework Convention on Climate Change (COP26), Vietnam updated and issued many new related policies to match its net emissions commitment of "0", Among them, the National Energy Master Plan for the period 2021 - 2030, vision to 2050 (National Energy Conservation Plan) and the National Electricity Development Plan for the period 2021 - 2030, vision to 2050 (Power Plan VIII) are two important policies approved by the Prime Minister in 2023.

According to assessments of domestic and international experts, the National Energy Conservation Plan and Power Plan VIII have sketched out the overall picture of Vietnam's Energy industry until 2050, demonstrating Vietnam's ambition in ensuring security. Energy security for economic development while achieving climate change goals as committed. Accordingly, the energy transition is clearly demonstrated and is an inevitable trend to achieve the goal of net zero emissions by 2050. The plans have boldly included many new technologies and energy sources with potential for application in the coming period such as coal co-firing technology with biomass or ammonia, offshore wind power, hydrogen fuel and imported liquefied natural gas (LNG). However, the implementation of the National Energy Master Plan will face many challenges not only in terms of investment capital but also in terms of technology because some new types of technology proposed in this plan are currently still in the testing phase. This article will outline some challenges when implementing the National Energy Master Plan, including: (1) the issue of developing LNG liquefied gas power, (2) carbon capture, utilization and storage (CCUS) technology, (3) new technology and (4) the issue of eliminating coal-fired thermal power. From there, it helps policy makers and researchers have more information as well as experience in implementing similar systems in countries in the Asia-Pacific region (APEC).