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CIL to Increase Coal E-Auction Quantity

Coal News - Published on Wed, 19 Feb 2020

Image Source: CIL Coal E Auction
ET reported that state-run miner Coal India will increase spot e-auction offerings in the current quarter to 15 per cent of the year ½ production. A top company executive said "Bulk of the auction offering during the current quarter would be for the spot market, fetching the company premiums of more than 40 per cent over notified prices for long-term power consumers. Coal for non-power companies are priced 20 per cent higher than long-term power consumers. Almost all subsidiary coal producing companies offer coal in the spot auctions at a floor price of 20 per cent over the notified price."

In the three quarters till end-December 2019, the company had offered about 12 per cent of its production for auctions. Spot auction offers accounted for almost 46 per cent of the total quantity offered for auctions till December, while the rest was a mix of special forward e-auction for the power sector, exclusive e-auction for non-power and special e-auction.

Till December, the company had offered close to 46 million tonnes through auctions, of which the booked quantity was about 44 million tonnes.

Source :

Posted By : Yogender Pancholi on Wed, 19 Feb 2020
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