Thermal coal prices for power as well as non-power consumers were hiked yesterday by State-run Coal India. This decision would raise the energy prices by Rs. 0.50 per unit say electricity producers, reported PTI.
The Indian Captive Power Producers Association indicates that the hike is in the range of 15 to 20 % for G-11 and G-14 grade fuel and could make power costlier by Rs 0.30 to 0.50 per unit.
Coal India (CIL) said in a filing to BSE, that its board had approved the revision of non-coking coal prices with effect from 9th January 2018, without disclosing quantum of increase.
The decision will result in an incremental revenue of Rs 1,956 crore for the rest of 2017-18 fiscal while total revenue will be Rs 6,421 crore, Coal India said. The price revision is applicable to all the subsidiaries of Coal India.
The increase will be over and above 12 to 18 percent indirect price increase by the introduction of evacuation charge (Rs 50 per tonne), sizing charge and surface transportation charge, said Indian Captive Power Producers Association (ICPPA) Secretary Rajiv Agrawal to PTI. The two will add about 35 paise in retail power tariff putting a burden on common power consumers.
CIL had revised it fossil fuel Prices last May by 6.3%collecting an additional revenue of Rs 3,234 crore in 2016-17.
Coal India closed at Rs 303.05 on BSE yesterday making it the biggest gainer among Sensex stocks with a rise of 5.63 percent.