KATHMANDU, Sept 21: Nepal Electricity Authority (NEA) exported power worth over Rs 5.43 billion to India in the first two months of the current fiscal year 2023/24.
In the month of Shrawan ( i.e. July 17 to August 17)-- the first month of the current fiscal–, NEA supplied electricity worth around Rs 1.95 billion, while the amount stood at Rs 3.48 billion in the following month of Bhadra (i.e. August 18 to September 17).
The monthly average selling price was Rs 8.13 paisa per unit and Rs 12.27 paisa per unit, respectively. Similarly, the average rate of two months is Rs 10.37 paisa per unit.
The NEA supplies the surplus power during the rainy season 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 of the Government of 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 is experiencing with India.