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CESC net jumps 12%

BS Reporter  |  Kolkata 

After the recent rise in coal prices, RPG Group’s flagship company CESC Ltd has hinted at an increase in power rates for its customers soon. It has already approached the sector regulator seeking permission for a rise in prices to about 40 to 50 paise per unit.

“The arbitrary rise in prices by Coal India Ltd (CIL) is a cause of concern for us. I believe there should be some discussions from the part of CIL before increasing prices. Since the impact of this price rise is about Rs 250 crore on the company, we have applied to the regulator for an increase in tariff rates. The rise would be somewhere between 40-50 paisa per unit,” said Sanjiv Goenka, vice-chairman. CESC is looking for coal equity and linkages both in domestic and overseas market to reduce dependency

First Published: Sat, April 30 2011. 00:05 IST