Four state PSUs of Odisha will apply for four new coal blocks- Chandrabila, Tentuloi, Sarapal-Nuapada and Kudanali-Luburi notified by the Ministry of Coal (MoC) under 'auction by competitive bidding' of coal mining'.
A new coal pricing policy is likely to roll out from April 2013 with the government giving its final touch. Under the policy Coal India (CIL) will offer coal at pooled prices — a weighted average of the price of imported and domestically produced coal — to its buyers.
The government said that power companies may secure coal from alternative sources in the absence of sufficient supply of the fuel from state-run Coal India Ltd (CIL).
Power Ministry has sought a few changes in the model fuel supply agreement that Coal India Ltd has to sign with power firms by the November-end deadline set by the PMO.
So far 30 power plants have entered into fuel supply agreements (FSA) with coal India Ltd (CIL) following the Prime Minister’s Office (PMO) direction asking power companies to ink pacts with the coal major by this month-end.
The much-awaited unbundling of Bihar State Electricity Board (BSEB) into five different companies, with the avowed objective of rapid reforms in the energy sector, will become effective from Thursday with the state energy department issuing a notification to this effect.
The Prime Minister's Office (PMO) has asked both Coal India and Central Electricity Authority to work on the issue of the price pooling mechanism of imported coal, which is unresolved.
Almost 65,000 Mw of power generation capacity is held up in the country due to shortage in fuel supply by state-run Coal India, says a report.
Maharashtra will have to pay higher levelised rates for power purchases in the coming months to keep load shedding away. Levelised rate is the average fixed and variable rate over the entire term of a power purchase agreement.
Government on Friday said it is open to accommodating more suggestions from stakeholders on new bidding documents being finalised for power projects to make the process more comprehensive.
State-run Power Grid Corporation on Thursday said that it will invest Rs 1,327.74 crore for strengthening two transmission systems in the Northern region.
Power producer NTPC has raised $500 million through a 10-year dollar-denominated bond offering in the US market. The transaction has been done as part of the $2-billion Euro Medium Term Note programme of the company. The coupon for the NTPC bond was fixed at 4.75% and the instrument will yield 4.764% a year for investors.
The Coal India Ltd (CIL) board is likely to take up the issue of coal price pooling today for implementation of the modified Fuel Supply Agreement (FSA).
An official panel on Monday decided to penalise Tata Power and Hindalco Industries for delay in developing a coal block in Jharkhand owned jointly by the companies.
The Power Ministry proposes to urge coal ministry to de-allocate the captive coal blocks from projects that have not progressed to those that will be commissioned during the 12th Five-Year Plan period. “We are going to take it up with the Coal Ministry as it is legally permitted,” Minister for Corporate Affairs and Power M Veerappa Moily told Business Line. But this proposal may clash wi...