The Nepal Electricity Authority (NEA) will procure electricity from India at up to Rs 38 per unit.
Addressing a press conference at the NEA premises on Thursday Managing Director Kulman Ghising said that the NEA is procuring electricity at an expensive rate as the price in the Indian market has risen significantly.
Ghising said that Nepal, that had earlier been procuring at an average rate of around Rs 8 per unit, will propose a high rate to procure from the free Indian market.
The price of electricity has risen by almost five times in India due to lack of coal and the global rise in price of petroleum products following the Russian invasion of Ukraine.
The NEA has been currently procuring around 350-400 MW of electricity during the peak hours from India.
Nepal has signed a one-year deal to import 150 MW from NTPC Vidyut Vyapar Nigam Limited and 75 MW from PTC India. Nepal did not get to buy electricity at the fixed rate following the Russian invasion of Ukraine on February 24 even though the deal will expire only in June.
Nepal has since been buying electricity from the open market where rate is determined every 15 minutes.
Nepal has also been buying over 200 MW from Bihar during the peak hours. There was problem after the 200 MW coming from Bihar was also suddenly stopped Tuesday evening.
The current peak demand in the evening is over 1600 MW. Kulekhani, Tamakoshi and Marsyangdi projects are operated at full capacity in the evening.
