Nepal Electricity Authority (NEA) has earned Rs 1.72 billion in the last one month (June 2-June 30) by selling electricity at competitive rates in the Indian Energy Exchange (IEX) market.
The NEA had started selling the surplus rainy season electricity at IEX 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 a net profit of Rs 1.72 billion by deducting all charges from 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, electricity is traded at a competitive rate set by the market by dividing 24 hours into 96 slots of 15 minutes each. Therefore, the value of each time 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 (July 7). On that day, the average rate was Rs 4.92 per unit.
During this period, the lowest amount of electricity worth Rs. 56.67 million has been sold on June 20. On that day, 94,800 units of electricity were sold. The highest sales of Rs 72.8 million was made on June 31. On that day, 78 lakh 13 thousand 300 units of electricity has been sold.