Coal India Ltd.

After taking back coal price hike under its new pricing mechanism in the wake of protests by consumers, Coal India (CIL) has increased non-coking coal prices by an average of 10-15 percent of selected blocks in Western Coalfields.

The hike in the prices of non-coking coal came into effect from midnight of June 21. Accordingly, non-coking coal exceeding 2,200 Kcal/Kg and not exceeding 2,500 Kcal/Kg GCV (Gross Calorific Value) is priced at Rs 430 per tonne for power utilities. However, apart from power utilities space other sectors are paying Rs 580 per tonne for the same grade.

The price hike would also benefit the company to turnaround the subsidiaries. The new pricing policy had led to a 5-12 percent increase in prices of different grades of coal, which had to be rolled back in January.