• Monday 19th August 2019

NEA’s profit rises to Rs. 7.2 billion last fiscal

  • Published on: August 15, 2019



  • By Our Reporter
    Good management makes a big difference. It is evident from the high profit made by the Nepal Electricity Authority (NEA).
    Until Kul Man Singh was appointed to man the state-own entity, NEA had been facing a huge loss, while it was compelled to cut power at least 16 hours a day. Now not only load-shedding has been a thing of past, it loss has also been a history.
    The NEA that was regularly suffering loss until the fiscal year 2015/16, was able to make a profit of Rs. 7.2 billion in the fiscal year 2018/19.
    This profit was higher by 149 per cent compared to the profit made previous fiscal year. NEA had made a profit of Rs. 2.89 billion in the fiscal year 2017/18.
    Significant reduction in technical losses and reform in the management system have contributed to improving the financial health of the NEA, Barshaman Pun, Minister for Energy, Water Resources and Irrigation, said on Tuesday.
    The NEA had earned a profit of Rs. 1.5 billion in the fiscal year 2016/17 while it faced a loss of Rs. 8.89 billion in the fiscal year 2015/16.
    Speaking at a press meet organised at the ministry, Minister Pun, who is also chairman of Board of Director of NEA, said that electricity leakage was reduced to 15.32 per cent last fiscal year from 25.78 per cent in the fiscal year 2015/16.
    Minister Pun appreciated the achievement and said that it would make a big stride in the production of electricity and its supply in the days to come.
    “We are actively working to increase electricity consumption and supply as well,” he said.
    Out of total 7.55 billion units (GWh) being supplied, the NEA purchased 2.19 billion units of electricity worth Rs. 14.13 billion from domestic private producers and imported 2.81 billion units worth Rs. 23.03 billion. The NEA supplied 2.55 billion units electricity from its own production last fiscal year.
    Of the total supply, NEA’s contribution was 34 per cent, private sector 29 per cent and 37 per cent was imported.
    Meanwhile, the NEA exported power worth Rs. 320 million last fiscal year.
    NEA’s Managing Director Kul Man Ghising said that they had planned to improve the power supply system by installing additional 7,000 new transformers in the current fiscal year.

    Comment


    Related Posts


    © copyright 2019 and all right reserved to People's Review | Site By : SobizTrend Technology