Nepal sold Rs 10.39 billion in electricity to India in five and a half months. Nepal has earned an income of 10.39 billion rupees from electricity export.
According to the latest information, the mentioned income was obtained from the export of electricity in the first five and a half months of this year. Nepal Electricity Authority (NEA) has exported 1.27 billion units of electricity that was consumed in the country. This is the details as of mid-November.
From June 2, the authority began selling excess monsoon electricity consumed within the country via competition in the Indian Energy Exchange Limited (IX) day-ahead market.
Because electricity trade with India is conducted in Indian currency, 6.49 billion Indian rupees have been brought into Nepal from the sale of electricity during this period. This helps Nepal’s foreign exchange reserves while also reducing the two countries’ trade deficit.
Initially, 39 megawatts of electricity generated by the two power plants was considered a source and was daily sold to IX. Since June 10, 364 megawatts of electricity generated by six hydropower plants have been sold at a competitive rate in the Indian market. The approved capacity of electricity exported to India has increased to 409 megawatts with the start of electricity export from Chilime and Solukhola on November 4 and November 16, respectively. Nepal sold Rs 10.39 billion in electricity to India in five and a half months.
According to Kulman Ghising, the authority’s managing director, the amount of export is gradually decreasing alongside the reduction in electricity production from hydropower plants based on river flow due to the decrease in water flow in the canals.
In IX, 24 hours are divided into 96 blocks of 15 and 15 minutes, and electricity is traded at a market-determined competitive rate. As a result, the price of each block varies. Until mid-November, the average rate of electricity exported by the authority was Rs 8.23 per unit.
