Coal news and updates

Govt seeks comments on methodology for coal auction

Government is considering a policy for coal linkage auction and has sought comments from stakeholders on the draft auction methodology it has prepared, Parliament was informed today. "In order to conduct the auction of the coal linkages to non-regulated sector which covers cement, sponge iron, captive power and others through competitive bidding this ministry has prepared a draft auction methodology and also an approach paper has been prepared for public consultation," Minister of State for Coal and Power Piyush Goyal said in written reply to Rajya Sabha. The minister further said that in June "the members of the public and stakeholders concerned were requested to submit their comments/views on the draft auction methodology. The policy for linkage auction is under consideration of the Ministry". He further said that an Inter-Ministerial Committee (IMC) was set up in January to consider various models, including auctioning of coal linkages/LoAs (Letter of Assuarances) through competitive bidding as the selection process and to recommend the optimal structure that would meet the requirements of all the stakeholders.

source: http://www.moneycontrol.com