On the afternoon of 20/10, Minister of Industry and Trade Le Manh Hung, authorized by the Prime Minister, presented to the National Assembly a draft law amending and supplementing several articles of the Electricity Law. This proposed amendment aims to institutionalize new policies on energy security and address bottlenecks in planning, investment, electricity prices, and the power market, while also ensuring reasonable, public, and transparent electricity prices.

A key aspect of the proposal is the government's intention to revise state-monopolized activities to ensure national energy security. The drafting agency suggests that the State maintains a monopoly on investing in, constructing, and operating nuclear power plants, with the exception of those utilizing small modular reactor (SMR) technology. This opens the door for private entities to invest in SMR nuclear power plant projects. Additionally, the State will retain its monopoly over strategic multi-purpose hydropower plants and critical transmission grids, as determined by the Prime Minister.

Minister of Industry and Trade Le Manh Hung presented the draft law at the session on the afternoon of 20/10. *Photo: National Assembly Portal*

Under the current Electricity Law, the State holds a monopoly on investing in, constructing, and operating nuclear power plant projects, strategic multi-purpose hydropower plants, and important transmission grids of 220 kV voltage level and above, as determined by the Prime Minister. This new proposal marks a significant shift, specifically targeting SMR technology.

The move follows a resolution passed by the National Assembly at its end of 2025 session, which outlined national energy development for the 2026-2030 period. This resolution tasked the government with issuing investment mechanisms for small modular nuclear power development, based on demand and technology commercialization. Both state-owned and private enterprises were encouraged to research and invest in small modular nuclear power, with a strict requirement to ensure nuclear security and safety.

Small modular reactors are advanced nuclear reactors with a capacity of up to 300 MW per unit, which is one-third the size of traditional nuclear power reactors. These modules can be prefabricated at a factory and then transported to the installation site, reducing construction costs and time while ensuring safety through passive safety features. The estimated investment cost per kW for SMRs ranges from 7,000 to 12,000 USD, translating to 2,1 to 3,6 billion USD for a 300 MW plant built in two to three years. In contrast, a standard nuclear power plant costs approximately 6 to 9 billion USD to build, requiring around five years, with some projects taking over 10 years.

Reviewing this proposal, Nguyen Thanh Hai, Chairman of the National Assembly's Committee on Science, Technology, and Environment, stated that the committee generally supports the policy of encouraging state-owned and private enterprises to participate in SMR nuclear power development. However, the committee requested the drafting agency to clarify the conditions and scope of participation for the non-state sector, ensuring consistency with atomic energy laws and not diminishing nuclear safety and security control requirements.

Nguyen Thanh Hai, Chairman of the Committee on Science, Technology, and Environment, presented the verification report. *Photo: National Assembly Portal*

During a subsequent group discussion, Hoang Van Tuyen, a full-time member of the National Assembly's Ethnic Council, commented that exploring the possibility of allowing non-state enterprises to invest in, construct, and operate nuclear power plants using SMRs could open up new avenues for resource mobilization and access to new technologies. However, he noted that this is a significant policy due to the long-term responsibilities associated with nuclear safety, spent fuel management, radioactive waste, and facility decommissioning, which extend far beyond the typical duration of an investment project. Therefore, he argued that any change in the scope of the State's monopoly must be accompanied by sufficiently strict control conditions to prevent a situation where investment mechanisms are opened up before long-term obligations are clearly defined.

Mr. Tuyen requested clarification on the criteria for defining small modular nuclear power plants, as well as the conditions and scope of private enterprise participation, ensuring consistency with atomic energy laws. He also suggested that responsibilities and resources for ensuring safety, waste management, and facility decommissioning should be defined from the initial investment approval stage.

The National Assembly will discuss the draft law amending and supplementing several articles of the Electricity Law in the assembly hall on 3/11 and vote on its adoption on 20/11.

Anh Tu