KATHMANDU, OCTOBER 11
The state-owned Nepal Electricity Authority (NEA) has traded 1.30 billion units of surplus power at competitive rate in the Indian energy market as of today.
Likewise, NEA generated net income of Rs 7.93 billion via trading surplus power to India during this period, said Kulman Ghising, managing director of NEA "Exceeding export of one billion units of electricity is yet another milestone for us," Ghising said. "The average price per unit of exported electricity was Rs 7.91."
Since the electricity trade with India is done in Indian rupees , INR 4.95 billion was brought into Nepal from the sale of electricity, as per NEA. Also, electricity exported to India every month has contributed in replenishing the country's foreign exchange reserves and helped to reduce Nepal's trade deficit with the southern neighbour.
According to the authority, it has set a target of earning about Rs 16 billion from electricity export in the current fiscal year.
NEA stated that altogether 39 MW, including 24 MW produced from Trishuli hydropower and 15 MW from Devighat powerhouse, had been traded on a daily basis in IEX since June 2. NEA then exported altogether up to 364 MW of additional electricity produced from six hydropower plants daily to Indian market through 400kV Dhalkebar-Muzaffarpur cross-border transmission line at a competitive rate since June 10.
According to the authority, power is being traded at a competitive rate set by the IEX - dividing 24 hours into 96 blocks of 15 minutes each. NEA had traded surplus power worth Rs 3.88 billion in the last fiscal year.
A version of this article appears in the print on October 12, 2022 of The Himalayan Times.
