NEA's Has Made Historic Achievement With Rs.7.20 Billion Profit: Minister Pun

NEA's Has Made Historic Achievement With Rs.7.20 Billion Profit: Minister Pun

Aug. 13, 2019, 4:11 p.m.

Minister of Energy, Water Resources and Irrigation and chairperson of Nepal Electricity Authority (NEA) Barshaman Pun Ananta has said that Nepal's import of electricity will drastically decrease with surplus electricity for export.

"As Nepal has been importing over Rs.200 billion of petroleum products annually, the surplus electricity will help to reduce the import of petrol next year. We have already developed a strategy to replace LPG by offering electricity," said Minister.

He thanked NEA's management and staffs for turning NEA as a successful public utility. "This is a result of hard work of Managing Director, Board Members and Staffs of NEA," said Minister Pun.

Addressing a press meet to disseminate NEA's last years' progress, minister Pun said that this is one of the best year in the history of NEA generating the record high profit of Rs.7.20 billion. He reminded that NEA has made Rs.2.90 billion profit last year.

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He also said that there will will drastically decline the import of electricity because Nepal will have surplus energy next year. "We have already completed problems infected projects like 60 MW Upper Trishuli 3 A and Kulekhani III and many other projects are under completion now," said Minister Pun.

Attended by secretary of ministry Dinesh Ghimire, NEA's MD Kul Man Ghising, other senior officials from Ministry and NEA, Minister Pun said that this is one of the historic year for NEA to generate electricity and complete the projects.

Secretary Ghimire said that NEA has made progress in all sectors business, generation, transmission and distribution. "This is for the first time NEA is able to achieve noticeable progress.," said Ghimire. " Under the leadership of minister Pun, Nepal's energy sector has been achieving the success. The success achieved by NEA made all of us in energy sector proud."

Conducted by joint secretary and spokesperson of the Ministry Prabin Aryal, Managing Director of NEA Ghising highlighted the forthcoming strategy and plan to use the surplus electricity. Ghising said that the achievement reducing in the power loss was historic 25.78 in 2072/073 to 15.32 in 2075/076. "We are now close to International level of power loss," said Ghising.

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According a press release, NEA has made 149 percent progress in generating profits in the last one year. In the last fiscal year, NEA generated Rs.2.90 billion but this years it reaches to Rs. 7.20 billion.

This year electrify loss was 15.32 compared to 20.45 a year ago. This is 5.13 percent lower than the last year. Three years ago, it was 25.78.

NEA has deposited Rs.15.59 billion in government's account including interest rate royalty and income. The number of consumers reached to 4.5 million covering 78 percent of the population. This is increscent of 10 percent compared to last year.

Out of 7.55 billion unit (Kilowatt Hour) electricity, about 2.55 billion from NEA, 2.19 billion from private producer and 2.81 billion units from import. In the total supply, NEA's contribution was 34 percent, Private Sector 29 and import 37 percent.

Nepal also exported 34.7 million unit to India. NEA paid Rs.14.13 billion to private sector and Rs. 23.3 billion to import. Nepal exported the electrify of Rs.320 million.

NEA has completed 757 Circuit KM line and charge 606 circuit km. Below 33 kV, about 9722 circuits km has completed in the last year. 40 new substations were constructed and upgraded with 990 MVA capacity and 6581 transformers were installed.

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