Nepal exports electricity worth Rs7.2 billion

KATHMANDU, SEPTEMBER 21 : Nepal Electricity Authority (NEA) has exported electricity worth Rs 2.42 billion to the Indian market in the second month of the current fiscal year 2022/23. From mid-August to mid-September, the NEA sold 246.5 million units of surplus electricity and earned the said amount. It started to sell surplus power produced in the monsoon through competition in the day-ahead market of the Indian Energy Exchange Limited (IEX) from June 2.

Initially, 39 megawatts of electricity produced by two power plants were sold in the IEX.  Since June, 10, 364 megawatts of electricity produced from six hydropower plants have been sold daily in the Indian market at competitive rates.

According to the NEA, over the last four months, 787.8 million units of electricity amounting to Rs 7.2 billion have been sold in the Indian market. In the current year, it has set a target to export 200 megawatts of electricity worth Rs 16 billion.

In the IEX, 24 hours are divided into 96 blocks of 15 minutes each and electricity is traded at a competitive rate set by the market. Hence, the price of each block vries. The average rate of electricity exported by NEA in August is Rs 9.80 per unit. The four-month average rate stands at Rs 9.23 per unit.