7.4 Power Sector Reform in Nepal

The reform arc (the examination's synthesis): 1. Monopoly era — NEA everything (post-2041). 2. Licensing era — Electricity Act 2049 opens generation to IPPs; PPAs proliferate. 3. Regulatory era — the 2074 Commission Act introduces independent tariff/licensing oversight. 4. Restructuring era — NEA's corporatization and subsidiary unbundling; the transmission company and generation company debates; the market-trading questions (the pool/single- buyer evolution). 5. The unfinished agenda — the Electricity Act's amendment (the old 2049 Act straining under the new structure), export institutions, and provincial energy governance.