The joint conclusion of Nepal Electricity Authority (NEA) of Nepal and the Central Electricity Authority (CEA) of India on the Nepal-India Power Exchange Committee meeting held in New Delhi was to start energy banking by 2019-2020. The meeting was held on 5th July and 6th July.
Why it matters:
- Energy banking means exchanging energy for energy; when there is excess energy in one country it will be supplied to the other country and vice-versa.
- Under this agreement, if the amount of energy exchanged between Nepal and India is equal then no there will be no charges imposed on either side. Likewise, if one country imports more energy than it has exported then it will have to pay for the additional imported electricity amount.
What they are saying:
- Prabal Adhikari, spokesperson for NEA said that the discussions had already been held regarding the amount of electricity to be exchanged and the electricity would be imported and exported to different countries in different seasons.
- Within the next six months, the guidelines on energy banking will be prepared. Since energy banking has been implemented in various cities in India, the CEA has been assigned the task to prepare the guidelines.
- According to NEA, Nepal’s electricity production will reach 5,600 MW by the fiscal year 2025-56, and the domestic demand is expected to reach 3,500 MW. That will allow the excess 2,100 MW of electricity to be exported to India through the energy banking agreement.
One more thing:
In the same meeting, India’s proposal to hike the electricity tariff by 5% from 15% to 20% was rejected by NEA.
- NEA Directed For Uninterrupted Power Supply to Tribhuvan International Airport
- Siemens Selected by NEA to Enhance Capacity of Load Dispatch Center
- NEA to Produce 800MW Power in the Next 18 Months
- Yamaha Fascino 125 FI First Ride: Refined BS6 Engine and New Practical FeaturesWe’ve come a long way since the early days of scooters in Nepal. Scooters are…
- TATA Altroz Launched in Nepal: Most Anticipated Hatchback Now at Killer Price!Tata Altroz is now available in Nepal. Sipradi Trading Private Limited, the authorized distributor of…
- All-new BS6 KTM Bikes Officially Launched in NepalKTM Bikes with BS6-compliant engine arrives in Nepal. Hansraj Hulaschand & Co. Pvt. Ltd., the…
- Hyundai Grand i10 NIOS Gets a Virtual Launch in Nepal, Price Starts at 30.96 LakhsHyundai Grand i10 Nios is now available in Nepal. Hyundai Grand i10 NIOS comes as…