State-owned CIL's coal allocation to the power sector under the special e-auction saw a 5.9 per cent rise to 17.96 million tonnes (mt) in the first eight months of the current financial year. Coal India Ltd (CIL) had allocated 16.95 mt of coal during the April-November period of the previous financial year, according to the coal ministry's monthly summary for the Cabinet.
However, coal allocation by the state-owned company under the scheme dropped significantly to 1.38 mt last month, over 4.05 MT in the corresponding month a year ago, it said. Coal distribution through the forward e-auction is aimed at providing access to coal for such consumers who wish to have an assured supply over a long period, say one year, so as to plan their operations.
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The purpose of the scheme is to provide equal opportunities to all intending coal consumers to purchase coal for own consumption through single-window services, at a price determined by themselves through the process of online bidding. Forward e-auction is aimed at facilitating all the consumers of coal across the country with wide ranging choice for booking coal online, enabling them to buy dry-fuel through a simple, transparent and consumer-friendly system of marketing of fossil fuel.
CIL is one of the major suppliers of coal to the power sector. The company, which accounts for over 80 per cent of domestic coal output, is eyeing one billion tonnes of coal output in 2020-21.
Source:-moneycontrol.com