Moving towards a level playing field for all entities in all energy sectors will further attract private investment, International Energy Agency has said in its report, India Energy policy review.
“India now has the institutional framework it needs to attract more investment for its growing energy needs. The IEA welcomes the government’s decisions to allow privatesector investment in coal mining,” IEA said recently in its comprehensive report.
India is introducing commercial coal mining – the most radical reform since the nationalisation of the coal sector in the 1970s. Since the amendment (Special Provisions) of the Coal Mines Act in 2015, which formally ended the marketing monopoly of CIL, private companies can develop new mines based on government auctions of unallocated coal mines/blocks. Private companies can sell coal in the free market without price or enduser restrictions.
The Cabinet Committee on Economic Affairs (CCEA) approved the auction methodology in February 2018, which marked the start of commercial mining. The methodology provides for an ascending forward auction whereby the bid parameter will be the royalty per produced tonne of coal to be paid to the state government. The floor price will be determined in accordance with a methodology established in 2014. 6 Public power plants were excluded from the competitive bidding; however, in a separate process they were able to receive guaranteed supplies in the recently reallocated coal fields (41 out of 89)
After the cancellation of two round of auctions, in December 2019, the GoI carried out the auction of coal blocks and allocated five blocks (to Birla and Vedanta).
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SCCL's coal production up 64% in Q1
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“Growing Infrastrcuture is a big opportunity for OTR Tires in India”
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SCCL's coal production up 69% in May
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