Coal India (CIL) has reportedly received higher e-auction realizations this month for coal sold on long-term contracts to the captive power plants. Captive power plants lapped up 80% of the coal offered on a five-year contract at the auction at an average premium of 25% over the notified price. At a similar auction held last year, Coal India had managed to receive a premium of 19% over the notified price.
The company is looking at auctioning at least 132 million tonnes of coal in the spot market, about 10% more than last years’ volumes in an effort to jack up its revenues.
Coal India is the world’s largest coal mining company. It also produces non-coking coal and coking coal of various grades for diverse applications.
