The Energy Service Company (ESCO) model is considered a market-based mechanism that can convert future energy savings into present investment recovery. This article approaches ESCO not merely as a technical-financial solution, but as a legal issue concerning the recognition of service providers, contract structure, contractual risk allocation, measurement and verification, and financial support mechanisms. Although Vietnam has recently recognised “energy service organisations” and “energy performance contracts”, the legal framework remains incomplete in relation to ESCO contract standardisation, baseline, measurement and verification, independent verification, dispute settlement, and feasible financial mechanism. Drawing on the experience of the United States, China and Thailand, the article makes some recommendations for limited standardisation, performance-based support, and pilot implementation in the public sector.
