Kathmandu: The Nepal Electricity Authority (NEA) exported electricity worth approximately Rs 2 billion to neighboring India in the first month of the current Fiscal Year 2022/23.
The NEA, the generator and distributor of electricity under the government of Nepal, traded surplus power of over 242 million units worth Rs 1.83 billion to India where power demand in monsoon is higher, in one month of the current fiscal year, said the NEA.
Currently, the NEA is putting efforts to export an additional 111 megawatts of electricity.
While it earned a total of Rs 16.1 billion in profits from the sale of electricity in the previous Fiscal Year 2021/22, the profit amounts from power export stood at Rs 59 million in the Nepali month of Shrawan in the current FY on a daily basis.
The NEA started trading surplus energy from monsoon on the Day-Ahead Market of the Indian Energy Exchange Limited (IEX) since 2 June, 2022.
In the first place, power was traded with the IEX basing on 39 megawatts from two power houses in Nuwakot. Thereafter, 364 megawatts electricity trade took place since 10 June, 2022 on a daily basis at competitive rates basing on electricity generated from various six power houses in the country.
Power exports took place through the 400 kV Dhalkebar-Muzaffarpur transmission line. In the previous FY, the NEA exported power worth Rs 3.8 billion.