The Vietnamese government, which piloted a competitive power generation system in July, has decided to delay the formal launch of the system to the full-fledged market, saying preparations are still not complete, news website VnExpress reported.
The system was scheduled to kick off in the new year.
Deputy Prime Minister Hoang Trung Hai said the infrastructure for the market was not ready yet and there were also issues to be resolved related to electricity purchase contracts.
A new date for the launch will be decided at the end of February, he said.
The government plans to restructure the electricity market in three steps creating a competitive generating market by 2014, a wholesale market by 2022, and a competitive retail market after 2022.
The power sector is now a monopoly of state-owned Electricity of Vietnam.
Hai said last month that the Ministry of Industry and Trade should have a plan to establish three power production companies under EVN as part of preparations for the generation market next year.