August 11, 2022 | Investopaper
Nepal Electricity Authority (NEA) has generated a profit of Rs. 16.09 Arba in the fiscal year 2078/79. The annual profit of NEA has increased by about 164 percent. In the previous fiscal year 2077/78, such profit stood at Rs. 6.1 Arba.
The major factors contributing to the rise in profit include the increase in energy consumption by 27 percent, increase in electricity production by about 16 percent, increase in export of electricity, and decrease in electricity leakage.
In the year 2072/73, NEA had suffered a loss of Rs. 8.89 Arba. Since, then it has been continuously making profits in the following years. In the year 2073/74, NEA earned a profit of Rs. 1.50 Arba, which increased to Rs. 11.75 Arba in the year 2076/77. However, in the year 2077/78, the profit declined to Rs. 6.10 Arba.
In the fiscal year 2078/79, electricity exports to India have increased while imports have decreased. Currently, the excess electricity after consumption in Nepal is being exported to India from about 364 MW to about 400 MW on a daily basis. NEA has earned Rs. 3.88 Arba in revenues from the export of electricity.
Likewise, the import of electricity has declined by 45.05 percent as compared to the previous year. About Rs. 15.45 Arba of electricity was imported in the year 2078/79. In the previous year, such import stood at Rs. 21.82 Arba.
As a result of the campaign conducted to control technical and non-technical leakages, NEA has been able to reduce the electricity leakage to 15.38 percent.
In the year 2078/79, the electricity peak demand was 1,747 megawatts. The number of customers using electricity has reached 53 lakh.