Two Adani Power companies managed to secure a shade over one third of the total coal auctioned by Coal India under the Shakti scheme by offering discounts ranging between 1paise per unit and 3 paise per unit over their existing tariffs.
Coal import in August declined 24 per cent on a yearly basis as Indian buyers preferred not to buy any fresh fossil fuel and instead wait and watch ahead of an upcoming auction for the power sector.
State-run miner Coal India Ltd is emphasising on “quick” and “swift” exploitation of the domestic fossil fuel reserves in order to meet future demand and reduce imports, an official said in Kolkata on Thursday.
Power producers participating in Shakti, the auction for long term coal supply contracts, offered to reduce their power supply tariffs by 4 paise per unit on the higher side and 1 paise per unit on the lower side.
Secretary, Ministry of Coal Susheel Kumar reviewed the coal supply position to the Thermal Power Plants in the country. The meeting was attended by CMD CIL and all the CMDs of the subsidiary companies of CIL.
Chief economic advisor Arvind Subramanian’s call for a worldwide coal alliance promoting sustainable use of the cheapest source of power over renewable energy which comes with hidden costs is gaining global support.
To make it easier for thermal power plants facing coal shortage, the State-owned Coal India Ltd has set up a round-the-clock monitoring cell that aims to ensure steady supply of the feedstock, a top official said on Monday.
No new coal-based power plants will be allowed by the Centre, apart from the ones already under construction. This has been included in the national electricity plan.
Coal stocks at thermal power plants across the country have dropped to alarmingly low levels. Private power companies are the worst-hit, as state-run NTPC, under government patronage, is getting out-of-turn supplies.
Coal India Ltd., the world’s biggest producer of the fuel, reported the first increase in monthly production on a year-on-year basis in five months after power plant inventories plunged and the miner’s own stockpiles declined.