KATHMANDU: In the second month of the current fiscal year 2079/80 BS (2022/23), Nepal exported electricity worth 2.42 billion rupees to India.

The Nepal Electricity Authority (NEA) earned Rs 2.41 billion 67.82 thousand by exporting 246 million 65 million 29 thousand units of electricity that was surplus in the country.

The NEA had started selling excess monsoon electricity consumed within the country through competition in the day-ahead market of the Indian Energy Exchange Limited in May.

Since then, since mid-June, 364 megawatts of electricity produced by 6 hydropower plants have been sold daily in the Indian market at a competitive rate.

The authority said that 7,878 thousand units of electricity were sold in the Indian market between May, June, July and August and earned 7 billion 1986 million rupees.

As the electricity trade with India is done in Indian rupees, IRs 4.49 billion 91 lakh entered Nepal from the sale of electricity in a period of 4 months.