NEA exports power worth over Rs 5.43 billion to India in two months

KATHMANDU: Nepal Electricity Authority (NEA) exported power worth over Rs 5.43 billion to India in the first two months of the current fiscal year.

In July 17- August 17, the first month of the current fiscal, NEA supplied electricity worth around Rs 1.95 billion and the export was amounted to 3.48 billion in the following month of August 18-September 17.

The monthly average selling price was Rs 8.13 paisa per unit and Rs 12.27 paisa per unit respectively and the average rate of two months is Rs 10.37 paisa per unit.

The NEA supplies the surplus power in rains to India on the Day-Ahead Market (DAM) of Indian Energy Exchange Limited (IEX).

Around 110 megawatts of electricity has been exported to the Indian company NTPC Vidyut Vyapar Nigam Limited as per the mid-term electricity agreement.

The Central Electricity Authority under the Ministry of Power, India has allowed the import of 632 megawatt of electricity from Nepal. NEA Managing Director, Kulman Ghising, said the power trade relations between the two nations have contributed to the foreign exchange reserve, reducing a huge trade deficit Nepal experiencing with India.