India and Nepal agree to energy banking deal

India and Nepal have agreed to the Nepal-India energy banking deal to set up an energy banking mechanism for preventing electricity spilling when production surpasses demand. As part of the deal, one country will export electricity to the other when it has a surplus, and import back the same amount of energy when it has a deficit. The guidelines for the same will be drafted by the Nepal Electricity Authority (NEA) and the Central Electricity Authority (CEA). It will be presented for approval before the energy secretary-level joint steering committee soon.

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