Coal news and updates

Coal India Should Strive To Offer Electricity At Reasonable Cost: Chairman

The benchmark base for future expansion should be established after we reach our 700 MT production target

As 80 per cent of the company's supplies are going to coal-based power plants and the country should strive to get power from the coal giant at a "fair price", said Pramod Agrawal, the head of state-owned Coal India (CIL).

More than 80 per cent of the domestic coal supply comes from CIL, while coal-based power generation accounts for 75 per cent of the nation's total electricity production.

The chairman and managing director of CIL, Agrawal, recently sent a message to his staff in which he stated that their responsibility is to offer assured energy at economical pricing.

He claimed that the corporation has a bigger obligation because the country has a sizable potential for energy expansion in the coming decades. Set even higher goals for the final quarter of the fiscal year, and make FY23 historic by exceeding the yearly goals as well.

The benchmark base for future expansion should be established after we reach our 700 MT production target, he said.

The team was exhorted by Agrawal to cooperate and be steadfastly committed to attaining the country's economic and energy goals.

All three performance metrics— production of 479 million tonne (MT), supply of 508 MTs, and OBR of 1,155 M, Cu.M. through December—outperformed their corresponding progressive targets.

The impressive scope of the targets they were able to surpass is what makes this milestone unique. But much more work must still be done, the message stated.

Due to the Covid-19 pandemic, CIL will produce a billion tonnes of coal by 2025–2026 as opposed to the initial plan of 2023–2024.

The coal ministry previously predicted that CIL would produce 700 MT of coal for the current fiscal year, with an additional 200 MT of production coming from other sources.