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This is an archive article published on May 29, 2013
CIL raises low-grade coal price
Coal India has raised the price of some grades of coal that is expected to raise electricity tariff for thermal power stations.
Written by Express News Service
New Delhi | May 29, 2013 04:01 AM IST
2 min read
2 min read
Coal India has raised the price of some grades of coal that is expected to raise electricity tariff for thermal power stations.
Just two days after announcing a 35 per cent increase in its Q4 net profit,Coal India has raised the prices of its low-grade output by 10 per cent while cutting back the price of higher grade coal by 12 per cent.
While NTPC chairman Arup Roy Choudhury said the rise would not impact his production cost since fuel costs are a pass through for him,private electricity producers are apprehensive. Ashok Khanna,chief of the Independent Association of Power Producers of India said the hike could translate into increasing the power generation cost of Rs 2.8 per unit by over 10 paisa per unit.
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Coal India chairman S Narsing Rao said that it has not hiked prices for 29 months and given the inflationary pressures,this had to be done. After this 12 per cent reduction,the prices of high grade coal would come down to about Rs 4,500 a tonne,slightly below the international benchmarks, he said. Overall the price realisation is expected to grow by about 4.7 per cent.
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