Coal news and updates

Green cess to add to Punjab State Power coal cost

The hike in the clean energy cess is likely to increase coal procurement cost by about Rs 120 crore for Punjab State Power Corporation (PSPC). A top official of the power utility told ICMW on Monday.

The power utility procures about 6 mt of coal per annum.

Incidentally, the Budget proposed a hike in the clean energy cess to Rs 400 per ton of coal mined from the existing Rs 200. It is for the third time in a row that the clean energy cess has been increased as part of the Budget announcements.

Earlier, in the 2015-16 Budget, the finance minister had doubled the clean energy cess from Rs 100 to Rs 200 per ton. India, the world’s third largest emitter of greenhouse gases, is among the few countries globally to have introduced a carbon tax.