COAL & MINES

Coal India helped cut 71 MT costly coal imports in current financial year

State-owned miner Coal India Ltd (CIL) today said a host of measures taken by the company have helped cut 71 million tonne of costly coal imports in the April-February period of the current financial year.

This includes an increase in e-auction volumes by 43.5 MT; allowing subsidiaries to sign pacts under import substitution with 17 power plants linked with them; offering additional coal to non-regulated sector against fuel supply agreements up to 100 per cent of annual contracted quantity (ACQ); and raising the trigger level for the power sector from 75 per cent to 80 per cent.

The ACQ for power plants was enhanced to 100 per cent of the normative requirement from the earlier 90 per cent. Also, additional coal was allocated to state and central generating companies under flexi utilization policy enabling them to reduce coal imports.

CIL has also waived-off performance incentive for power sector consumers, for supply of coal beyond the trigger level since the beginning of the fiscal. This helped the consumers in opting for additional quantities of coal at lower cost from CIL.

“These coordinated efforts of CIL, apart from 43.5 MTs of increased bookings in e-auction, helped arrest the imports by further 28 MTs,” said a senior executive of the company.

Source
ET Energy World
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