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CIL Offers 3 Month Supply Pact to Power Companies

Coal News - Published on Thu, 20 Feb 2020

Image Source: Coal Supply
ET reported the Centre and Coal India have initiated the process of offering three-month coal supply contracts for power plants that don’t have power sale agreements. The first auction, on highest bid basis, will be held during the second week of March for supplies from April to June. Auction under this category will be held every three months and plants with more than 50 per cent of the untied capacity are eligible to participate. A note said "All such power plants including private generators which do not have power purchase agreements shall be allowed coal supply contracts for a minimum of three months up to a maximum of one year, provided that the power generated through that coal supply is sold in day ahead market (DAM) through power exchanges or in short term through a transparent bidding process through Discovery of Efficient Energy Price portal.”

Interested bidders must submit their requisition to CEA, which will assess the eligibility of bidders and a list will be communicated to Coal India for the auction. To identify prospective bidders and assess the tentative requirement of coal for the first round of auction, the CEA had recently invited requisitions from interested bidders.

CEA will match the power capacity sold under DAM/DEEP portal with the power capacity equivalent to the coal quantity allocated to each successful bidder under auction process and will identify balance coal quantity at the end of the quarter. CEA will issue a Coal Utilization Certificate.

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Posted By : Yogender Pancholi on Thu, 20 Feb 2020
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