Millennium Post

CIL’s e-auction to offer coal to power plants begins March 30

State-run Coal India will conduct a two-day special e-auction beginning March 30 to offer the fossil fuel to distressed power plants as part of government’s efforts to ensure 24x7 affordable electricity to all. “The special forward e-auction phase V will be conducted as per the terms and conditions followed for special forward e-auction phase IV,” CIL said in a recent notice. The auction for around three million tonnes of coal will be held on March 30 and 31, the notice said. “The reserve price for power sector consumers will remain at 10 per cent over the notified price of coal for power sector... This is however applicable for G6 and below grades of coal,” the company said. The notice further said that biomass-based power plants already commissioned shall be eligible to participate in the auction. According to an official, CIL which accounts for over 80 per cent of domestic coal production will put on offer the fossil fuel for those distressed power plants which have neither linkages nor power purchase agreements. 
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