Nepal's electricity exports have seen a substantial surge, with the total value of exports reaching Rs 4.2 billion rupees in the month of Asoj (mid-September to mid-October). According to the Nepal Electricity Authority (NEA), the accumulated electricity export earnings since Jestha (mid-May to mid-June) have surpassed an impressive figure of Rs 12 billion. Specifically, from Jestha to Asoj, Nepal has exported electricity worth Rs 11.82 billion to India.

NEA initiated the sale of surplus electricity generated during the rainy season in the Indian market, commencing on June 11th of the current fiscal year, 2023/24. Over the course of three months, spanning from Shrawan, Bhadra, and Asoj (mid-July to mid-October), the authority successfully exported electricity valued at Rs. 9.65 billion to India. An additional Rs 4.2 billion worth of electricity was exported in Asoj.

The average rate of electricity exported to India during these three months stood at Rs 10.27 paise per unit. Notably, Nepal exported electricity worth Rs 405 million in Jestha and Rs 1.75 billion in Asar. The average export rate during Jestha and Asar was Rs 9.67 per unit.

Furthermore, electricity exports to the Indian market comprised Rs 2.14 billion in Shrawan, Rs 3.47 billion in Bhadra, and Rs 4.2 billion in Asoj, totaling Rs 9.64 billion within three months.

The NEA's practice of exporting surplus electricity to India, following domestic consumption during the rainy season, has been a successful endeavor. Around 110 MW of electricity has been consistently sold to the Indian company NTPC Vidyut Vyapar Nigam Ltd. (NVVN) through competitive bidding in the day-ahead market and under the medium-term power agreement. NVVN subsequently distributes this electricity in the state of Haryana, India.

The Central Electricity Authority of India has also granted approval for the sale of approximately 44 MW of electricity in the real-time market, out of the total 522 MW approved for export to the competitive market in the initial phase. This significant boost in electricity export has not only contributed to narrowing the trade deficit between Nepal and India but has also bolstered the country's foreign exchange reserves.