The Managing Director of the Nepal Electricity Authority, Kulman Ghising, has submitted a performance report for the fiscal year 2023/24 to the Ministry of Energy, Water Resources, and Irrigation for evaluation. On Thursday, Managing Director Ghising claimed a performance score of 98.99% for the tasks accomplished during the past fiscal year and submitted a report that includes key performance indicators for evaluation.

Kulman Ghising was reappointed as the Managing Director of the Nepal Electricity Authority for a second term of four years through the decision of the Council of Ministers on August 9, 2021. Based on this decision, a performance agreement was signed between the Ministry of Energy, Water Resources, and Irrigation and Ghising on January 19, 2022, which included various indicators for the reform of the authority.

In the fiscal years 2022/23 and 2023/24, Managing Director Ghising received performance scores of 94.23% and 98.94%, respectively, from the Ministry of Energy. Based on the scores obtained in the performance agreement evaluation, Ghising is entitled to receive an incentive allowance.

The Nepal Electricity Authority earned a profit of Rs. 14.46 billion in the last fiscal year. In fiscal year 2016/17, the Authority had incurred a net loss of Rs. 8.89 billion in a single year. However, in fiscal year 2017/18, it started its history of profitability by achieving a net profit of Rs. 1.50 billion. Since then, the Authority has consistently remained profitable. Eight years ago, it had an accumulated loss of Rs. 34.61 billion, but it has now reached an accumulated profit of Rs. 47.41 billion.

The Nepal Electricity Authority reduced the system’s electricity leakage to approximately 12.73% in the last fiscal year. Eight years ago, the electricity leakage from the system was as high as 25.78%. In fiscal year 2023/24, the electricity leakage was recorded at 13.46%.

The Nepal Electricity Authority has achieved significant success in electrification over the past eight years. In fiscal year 2016/17, the electrification rate was only 58%. Three years ago, it stood at 89.7%, and it has now reached 99%.

Under the leadership of Managing Director Ghising, the Nepal Electricity Authority has made significant progress in improving its financial situation, governance within the organization, and achieving electrification to ensure electricity reaches every citizen’s home. The Authority has prioritized the expansion and strengthening of transmission and distribution infrastructure to make electricity supply adequate, reliable, high-quality, and safe. It has also focused on advancing large hydropower projects in the production sector, increasing internal consumption, and exporting surplus electricity.

After the country became free from load shedding and began receiving regular electricity supply, efforts have been prioritized to address the challenges that arose in the system. The focus has been on expanding, improving, and automating the system’s infrastructure through technology to provide reliable and quality electricity to consumers. According to the credit rating by ICRA Nepal, the Authority has consistently received a “Double A Plus” rating. This reflects the Authority’s strong capability to meet its financial and economic obligations with confidence.

During the last fiscal year’s monsoon season, the excess electricity consumed within the country was exported to India, earning a revenue of Rs. 17.07 billion. In the last fiscal year, Nepal successfully became a net electricity exporter by exporting electricity worth about Rs. 13 crore more than its imports, marking a historic achievement. Significant success was also achieved in the construction of transmission and distribution lines, as well as substations.