Nepal Electricity Authority (NEA) has sold electricity worth Rs 1.72 billion at competitive rates in the Indian Energy Exchange (IEX) market.
The NEA had started selling the surplus rainy season electricity at IX from last June 5. Initially, 39 MW of electricity from two power plants was sold daily at IEX.
Since then, 364 MW of electricity has been being sold at a competitive rate in the Indian market on a daily basis since June 10. The Nepal Electricity Authority (NEA) has received approval from the Central Electricity Authority (NEA) under the Ministry of Electricity of India to sell 364 MW of electricity generated from six hydropower projects in the IEX market.
In June, 178.19 million units of electricity were sold in the Indian market. NEA has earned Rs 1.72 billion by deducting all charges from the electricity sold in India during this period. The average rate of electricity sold in the competitive market in June is Rs 9.67 per unit.
In IEX, 24 hours are divided into 96 blocks of 15-15 minutes and electricity is traded at a competitive rate set by the market. Therefore, the price of each block is different.
NEA has received the highest average rate of electricity sales during this period on June 15. The average rate per unit that day was Rs 15.93. The lowest average rate was on June 21. On that day, the average rate was Rs 4.92 per unit.
NEA Executive Director Kulman Ghising said that electricity trade in the Indian competitive market, which Nepal started last year, has moved forward more effectively this year.
