Publication
Vietnam: Competition Law Fact Sheet
Overview of the main provisions of the Competition Law, and discussion of the enforcement regime and recent enforcement trends.
Publication | September 17, 2018
On July 31, 2018, the Ministry of Mines and Energy issued Resolutions No. 40791 of 2018 and 40795 of 2018, in order to implement a mechanism to promote long term contracts for electric energy projects, complementary to the mechanisms already existing in the Wholesale Energy Market. Said mechanism will be a two-tips closed envelope bidding process, of voluntary participation for buyers and sellers (the “Auction”).
The Auction for long term energy will allow a greater incorporation of renewable energies to the Colombian energy matrix. In the Auction, contracts for 10-year periods will be offered, under which energy delivery obligations will begin on December, 2022. The Auction will take place on January 2019 for an aggregate amount of 3.443 GWh-year, which is equivalent to approximately 1,000 MW of installed capacity. Sellers with generation projects of installed capacity equal or higher than 10 MW can participate in the Auction.
The purpose of the Auction is to award long term contracts for energy generation projects based on, amongst others, a criteria of resiliency against events of variability and climate change. The contracts awarded to generator-participants in the Auction shall be entered into with those energy marketers who opt to participate as purchasers in the process.
The projects will be qualified, based on the criteria of resource complementarity, reduction of emissions and energy safety in accordance with the ponderations established in Resolution 40791 de 2018. Once prequalified, the sponsors of those projects exceeding a certain set qualification will be able to bid in the Auction as generators.
The requirements established by the Ministry of Mines and Energy for the prequalification of those generators who wish to participate in the Auction as sellers include the following
Through External Circular Letter No. 028-2018 (http://www1.upme.gov.co/Normatividad/Circular_028_2018.pdf) the UPME issued the schedule for the Auction for electric energy contracts. In accordance with the schedule, the maximum term to request the concept of connection will be September 28, 2018. The publication of the definitive terms of the Auction will be October 1, 2018. The Auction will take place on January 2nd, 2019 and the respective execution of the contracts shall take on January 14, 2019.
In addition, on September 10, 2018, the draft of the long term annual average electric energy purchase contract (https://www.minminas.gov.co/foros?idForo=24039435&idLbl=Listado+de+Foros+de+Septiembre+De+2018) was published by the Ministry of Mines and Energy in order to receive comments thereto. The mentioned draft contract will be available in the web page of the Ministry of Mines and Energy for comments. The term for sending comments expires on September 24, 2018, as the definitive version of the contract will be published on September 26, 2018.
Please do not hesitate to contact us if you have questions or comments in respect to the Auction. We will be happy to discuss and review any topics you consider appropriate.
The validity period of the registry in this phase is of 1 year for any kind of project.
Requirement established in the article 2.2.2.3.4.2 Decree 1076 of 2015.
Publication
Overview of the main provisions of the Competition Law, and discussion of the enforcement regime and recent enforcement trends.
Publication
Artificial intelligence (AI) raises many intellectual property (IP) issues.
Publication
The European Court of Human Rights (ECtHR or the Court) recently ruled in Verein KlimaSeniorinnen Schweiz & Ors v. Switzerland (Application No. 53600/20) that Switzerland had breached the European Convention of Human Rights (the Convention) by not taking sufficient action against climate change. In particular, it found a breach of the right to respect for private and family life contained in Article 8 of the Convention, based on Switzerland’s failure to mitigate the impact of climate change on the lives, health, well-being and quality of life of its citizens. It also ruled that Switzerland had breached the right to a fair trial in terms of Article 6, in that the domestic courts failed to examine the merits of the applicants’ complaints, including the scientific evidence. In this article we consider the key features of this landmark judgment, which has wide ramifications for Member States of the Convention.
Subscribe and stay up to date with the latest legal news, information and events . . .
© Norton Rose Fulbright LLP 2023