翻译
Vietnam’s BESS Revenue Framework: A Turning Point for Energy Storage Across ASEAN
Vietnam has taken a groundbreaking step in Southeast Asia’s energy transition by implementing Circular No. 62/2025/TT-BCT on January 26, 2026, becoming the first major ASEAN economy to introduce a formal two-part tariff structure for Battery Energy Storage Systems (BESS). This regulatory milestone marks a decisive shift from energy-only compensation toward a framework that recognizes the full value of battery storage systems.
The Dual-Revenue Breakthrough
Circular 62 fundamentally transforms how Vietnam values BESS by introducing a comprehensive dual-revenue mechanism that addresses both capacity and energy delivery:
Capacity Charge: BESS projects receive payment for availability, ensuring predictable and stable income streams that support recovery of upfront capital expenditure and significantly improve project bankability.
Energy Charge: Additional compensation is provided for electricity discharged, covering operational costs and performance-related expenses.
This structure mirrors established frameworks in advanced energy markets and recognizes storage for what it truly provides: reliability, flexibility, and comprehensive grid support—not merely energy delivery.
Critical Timing for Vietnam’s Energy Future
For Vietnam, the implementation timing proves critical as the country confronts multiple energy challenges simultaneously. The nation faces increasing renewables curtailment, rapid solar and wind integration challenges, and the pressing need to align with its PDP8 Revised commitments. Circular 62 offers a proven mechanism to unlock private capital while strengthening overall system resilience.
Regional Implications for ASEAN
Vietnam’s progress highlights the comprehensive reforms still required across the ASEAN region to unlock the full value of energy storage:
1. Clear Regulatory Classification
Define BESS as a standalone asset class across power laws and grid codes, providing legal certainty for investors and developers.
2. Capacity-Style Remuneration
Provide predictable revenue streams tied to availability and reliability, moving beyond simple energy-only payment models.
3. Market Access
Allow batteries to compete with thermal assets for frequency and reserve services through access to ancillary and balancing markets.
4. Hybrid Integration
Enable co-located solar/wind + storage projects to operate under unified power purchase agreements, streamlining project development.
5. Standardization
Reduce investor uncertainty through standardized contracts and dispatch frameworks that align risk allocation across stakeholders.
A Call to Action for ASEAN
Vietnam has successfully implemented the first critical reform: paying BESS for readiness, not just output. The rest of ASEAN now faces a pivotal choice—follow early and accelerate the clean energy transition, or delay and confront rising grid instability as renewable penetration increases.
As Malaysia’s leading energy storage association, MESA recognizes this development as a watershed moment for the region. Vietnam’s framework demonstrates that with clear policy signals and appropriate market structures, battery storage can play its essential role in enabling the renewable energy transition across Southeast Asia.