Coal news and updates

Cement cos want utilities, traders ‘restrained’ from e-auction

October 7: Peeved at the Ministry of Coal (MoC) decision to continue with the cut in e-auction offerings by 50%, the Cement Manufacturers Association (CMA) has urged the ministry to “restrain” power utilities, independent power producers (IPPs) and coal traders from participating in the spot and forward e-auctions.

“It is requested that the power utilities, IPPs and coal traders may kindly be restrained in the spot and forward e-auction as additional 50% cut in the e-auction quantity will now be diverted to the power utilities and IPPs,” N A Viswanathan, Secretary General, CMA, said in a recent letter to Coal Secretary S K Srivastava.

He also urged the ministry to direct Coal India Ltd (CIL) to undertake modification in the spot e-auction scheme 2007 and forward e-auction scheme of the New Coal Distribution Policy (NCDP) to restrict entry.

Noting that its earlier request (to maintain status-quo in this matter) was turned down by the MoC, Viswanathan asked the government to “revisit” its directive on e-auction offerings.