Coal India Allocates 79 Point 4 Crore Tonnes Of Coal To The Power Sector Through E Auction 8 Pc Increase In April August Period
The purpose of distribution of coal through forward e-auction is to make coal available to consumers who want a fixed supply through e-auction for a longer period (such as one year), so that they can plan their work in advance
- In the April-August period last year, Coal India had allocated 73.2 million tonnes of coal through forward e-auction.
- Coal India wants to achieve one billion ton coal production target by 2023-24
Coal India allocated 79.4 million tonnes of coal to the power sector through special forward e-auction in the period from April to August. This is 8% higher on an annual basis. A monthly summary report submitted to the Cabinet by the Ministry of Coal stated that Coal India had allocated 73.2 million tonnes of coal in the same period last year.
Coal India, however, said that there was no allocation of coal under the scheme in August. In August last year, the power sector was allocated 6.2 lakh coal. The purpose of distribution of coal through forward e-auction is to provide coal to consumers who want a fixed supply through e-auction for a longer period (such as one year), so that they can plan their operations.
Consumers can buy coal in a simple and transparent way
The scheme provides an equal opportunity to all coal consumers to purchase coal at their own fixed price through single window service for consumption as per their needs and through online bidding process. This allows consumers across the country to book coal. They can buy coal in a simple, transparent and consumer friendly manner.
Coal India contributes more than 80% in domestic coal production
Coal India is a major supplier of coal to the power sector. It contributes more than 80 per cent to domestic coal production. The company intends to produce 71 tonnes of coal this financial year. The company intends to achieve a production target of one billion tonnes by 2023-24.