CIL to hold special forward e-auction for power producers

State-run Coal India Limited (CIL) will conduct a special forward e-auction for power producers, including captive producers, on March 30 and 31, the company said in a notice.

"The special forward e-auction phase V will be conducted as per the terms and conditions followed for special forward e-auction phase IV," company's notice said.

The dates for the auction have been set at March 30 and 31.

According to the notice, the reserve price for power sector consumers will remain at 10 percent over the notified price of coal for power sector and for captive power plants, it will remain 10 percent over the notified price for non power sector. This is however applicable for G6 and below grades of coal.

Subsidiary coal companies will notify the source and grade wise reserve price of coal on their respective websites, the notice said.

The notice also said: "Biomass-based power plants already commissioned shall be eligible to participate in the auction...bidders who have already registered for participating in the earlier phase of special forward e auction and special e auction and special e auction conducted earlier shall be eligible to participate."

On March 3, Coal and Power minister Piyush Goyal said that to facilitate liquidation of pit head coal stock Coal India has offered 10 million tonnes and four million tonnes of coal under special e-auction to power sector and non-power sector consumers respectively, in line with directions of government.

Subsidiaries of CIL have also been advised to make all out efforts to enhance dispatches through all modes to consumers as per commitment, the minister added.