Kathmandu. Nepal Electricity Authority (NEA) has reported a decline in profit due to decline in electricity sales. NeA’s executive director Hitendra Dev Shakya said the nea’s profit has declined in the fiscal year 2081-82 as compared to the previous fiscal year. According to the NRA, it has reached Rs 9.06 billion in the fiscal year 2081-82 BS.

This is 37.32 percent less than 2080-81. It had earned a profit of Rs 10.53 billion in 2080-81. NeA has been making profits since Kulman Ghising took over the reins of nea. However, with the dismissal of Kulman by the government, the profit has also come down. Nea’s Executive Director Hitendra Dev Shakya has said that there has been some decrease in profit due to the increase in administrative expenses and decrease in the average electricity selling price compared to last year.

He claimed that although the profit has decreased now, it will increase in the coming year. Executive Director Shakya said, “The total income from sources other than electricity sales was Rs 138.87 billion at the end of the fiscal year 2081-82. NeA’s total expenditure was Rs 129.81 billion in the fiscal year 2081-82, including all expenses including operating expenses, interest expenses. In the fiscal year 2081-82, the profit was Rs 9.06 billion. This is 37.32 percent less than 2080-81.

Compared to last year, there has been a loss of 1.5 billion rupees due to overvaluation of foreign currency in Japanese yen. A loss of Rs 5.5 billion has been incurred due to publicising the outstanding dues of dedicated and government of Nepal. There has been a slight decrease in profit due to increase in administrative expenses and decrease in average electricity selling price. However, which is expected to increase in the coming year.

According to him, by the end of the fiscal year 2081-82, the total power connected capacity of the national electricity system has reached 3591. In the fiscal year 2081-82 BS, 15,641 gigawatts of electricity was available in the national system. NeA and subsidiaries contributed 34 per cent of the total. Independent power producers contributed 55 per cent and 11 per cent were imported from India.

According to NEA, nepal’s internal electricity consumption increased by 10.7 percent to 11,319 gigawatt hours compared to the previous fiscal year. In the fiscal year 2081-82, there has been an increase of 4.6 percent compared to the previous fiscal year. National grade penetration has reached about 98 percent and electricity leakage has decreased by 0.47 percent. NeA’s total assets reached Rs 684.91 billion in 208182. In the fiscal year 2081/82 BS, a total of 434 MW of electricity generation capacity has been added to the NEA’s system.