सिंहदरबार संवाददाता
Kathmandu. Nepal Electricity Authority has received a ‘Double A Plus’ rating. ICRA Nepal has rated the authority and assigned a ‘ICRA NP Double A Plus’ level rating.
The rating has been prepared by analyzing the financial position of the authority, Assets, Analysis of business and financial risks, Management capacity, Internal and external environmental factors affecting operational effectiveness. .
An organization that receives a Double A Plus rating has a high ability to meet its financial and economic obligations on time. There is very low debt repayment risk in financial transactions with an organization that receives a Double A Plus rating. Through credit rating, the work of evaluating and expressing an opinion on the credit quality of an individual or organization is carried out. It provides an opinion as a simple and understandable symbolic indicator about the inherent risk in the ability of the organization to pay its debt obligations.
Kulman Ghising, Executive Director of the Authority, said that the organization has been able to continuously receive a Double A Plus rating for the past three years in the rating, and this shows that the organization’s financial health is good and its ability to pay its debts is capable. Ghising also mentioned that the authority appears to be able to meet its financial and economic obligations with confidence. Ghising said, “The rating of the organization, which is an important criterion for issuing shares to the public, has been completed.” Ghising said, “We have already evaluated the actual assets of the organization.” Ghising said, “The process of issuing shares can be carried out after receiving approval from the government.” We have planned to invest the amount collected from the share issue in the construction of large hydropower projects.’
The paid-up capital of the authority has been fixed at around 300 billion rupees and a premium of up to 20 percent of that amount has been added to the primary share issue to the general public. The share issue has been proposed at a price of around 300 rupees per share including the premium. The Authority has an annual income of 1.16 trillion rupees and assets of more than 7 trillion rupees.
The Authority has been established under the full ownership of the government to ensure proper arrangements for electricity supply by enabling electricity generation, transmission and distribution, and making electricity supply available to all. In addition to electricity generation, transmission and distribution within the country, the Authority is also engaged in domestic and cross-border electricity trading. The Government has been investing in the Authority through annual budget allocations, share investments (cash or interest/equity capitalization) and other necessary funds/operations to implement its power development programs. The Authority is a government-owned, fully-owned, electricity transmission, distribution and power purchase and sale agency within and outside the country.
The Authority has signed long-term power purchase agreements (PPA) of nearly 11,000 megawatts with hydropower projects being built by domestic and foreign investors. The rating results show that the Authority has a high level of financial capacity to pay for such projects, so there is no investment risk.
To reduce technical and non-technical power leakage, To increase access to maximum customers, To reduce financial expenses, To increase revenue, To expand transmission and distribution lines and substationsTo expand institutional The Authority has achieved great success in making profits by improving good governance.
The Authority started its history of profit by making a net profit of Rs. 1.5 billion in 2073/74, after a net loss of Rs. 8.89 billion in the financial year (FY) 2072/73. The Authority had made a profit of Rs. 14.46 billion in the last fiscal year 2080/81. The Authority, which had a cumulative loss of Rs. 34.61 billion in the fiscal year 2072/73, has now reached a cumulative profit of Rs. 47.41 billion. The Authority had reduced the system’s electricity leakage to about 12.73 percent in the last fiscal year. In the fiscal year 2072/73, 25.78 percent of electricity was leaking from the system.
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