Nepal Electricity Authority (NEA) has marked a new high as the organization raked a net profit of NPR 7.2 billion over the previous year FY 2018-19.<\/p>\n
The authority projected a profit increase of 149 percent from FY 2017-18, where it recorded a profit of NPR 2.9 billion.<\/p>\n
Nepal Minister for Energy, Water Resource and Irrigation Barsha Man Pun organized a press meet on August 13, 2019 to speak about progress in the electricity sector and its future plans.<\/p>\n
Speaking about power leakage, Minister Pun said that it has been reduced to 15.32 percent in FY 2018-19 from 20.45 percent in FY 2017-18.<\/p>\n
NEA Managing Director Kulman Ghising said that distribution contributes to 11 percent of leakage while technical leakage contributes to 4 percent.<\/p>\n
“We have reached South Asian standard in controlling distribution leakage. Now, we need to focus on technical leakage,” said Ghising<\/span>.<\/p><\/blockquote>\n
Besides, the authority has stepped up action against leakages by running campaigns to control power theft, control leakage, improve the situation of distribution lines and sub-lines and tighten payment of due bills.<\/p>\n
Minister Pun also updated the press, stating that the number of consumers connected to the national grid have increased by 10 percent in FY 2018-19.<\/p>\n
He also revealed that a new electricity act is being formed in line with Nepal\u2019s federal structure after conducting talks with the respective stakeholders.<\/p>\n
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Pun said that the government is also targeting to completely eliminate the usage of cooking gas, diesel and petrol and replace them with electricity.<\/p>\n
“We are about to finalize the criteria for establishing vehicle charging stations to encourage electric vehicles,” said Pun<\/span>.<\/p><\/blockquote>\n
The Energy Minister added that the government is also thinking of creating a policy to promote electric cooking in every household.<\/p>\n
However, the NEA has still incurred a loss of NPR 15.22 billion. On a positive note, the authority has been reducing its cumulative loss over the last three years, which was NPR 25.59 billion in FY 2017-18, NPR 28.17 billion in 2016-17 and NPR 34.61 billion in 2015-16.<\/p>\n
Moreover, NEA which was making an annual loss of NPR 8.89 billion in FY 2015-16 is making continuous profits after Ghising was made its Managing Director.<\/p>\n
In another interesting update, Minister Pun said that preparations to make Kathmandu<\/a> wireless were underway.<\/p>\n
\u201cWe have already selected the contactor and the initial preparation has already started,\u201d said Pun<\/span>.<\/p><\/blockquote>\n
It\u2019s time Nepal seriously considered switching to electricity for its commercial and household purposes, especially with the burden that the swelling LPG imports<\/a> brings on Nepal\u2019s already widening trade deficit.<\/p>\n","protected":false},"excerpt":{"rendered":"
Nepal Electricity Authority (NEA) has marked a new high as the organization raked a net profit…<\/span><\/p>\n