21 May 2002 – The Power Trading Corporation (PTC) of India Limited is in talks with the Nepal Electricity Authority to arrange import of surplus power from the neighbouring country, a company official said.

The official said that PTC, which had been set up to meet power shortfalls through electricity imports, was also talking with other concerned Indian agencies for this purpose.

Talks are at an advanced stage and tariff negotiations on commercial principles were in the process of being finalised, the official said.

During the year 2001-02, PTC traded in 1617 million kWh of power and turnover stood at Rs 3.64bn ($74.33m) as compared to Rs 116.2m in the previous year.

PTC has engaged ICICI to prepare an eight-year plan to tackle the problem of power supplies, which would be reviewed annually depending upon the demand-supply gap. The plan envisages PTC’s volume in power trading to touch 76 billion kWh by the year 2009-10, according to the official.