The state-owned CIL coal allocation under the special e-auction for the power sector registered a 15-fold increase to 5.51 million tons ( MT) in February 2020.
Coal India Ltd (CIL) allocated 0.38 MT of coal in February 2019, according to the most recent monthly summary by the Ministry of Coal for the Cabinet.
The allocation of coal to the PSU under the scheme increased marginally by 0.8% to 26.23 MT in the period April-February 2019-20, over 26.02 MT in the corresponding period a year ago, it said.
Coal distribution through forward e-auction is aimed at providing access to coal for those consumers who wish to have an assured supply over a long period, say one year, by e-auction mode in order to plan their operation, the summary said.
The purpose of the scheme is to provide equal opportunities for all coal consumers intending to purchase coal for their own consumption through single-window services, as per demand and at a price determined by themselves through the online bidding process.
Forward e-auction is aimed at facilitating all coal consumers across the country with a wide range of options to book coal online, enabling them to purchase dry fuel through a simple , transparent and consumer-friendly fossil fuel marketing system.
Maharatna is one of the main suppliers of coal to the power sector.
Coal India, which accounts for more than 80 percent of domestic coal output, sees 710 million tons of coal output in 2020-21.
The company has no plans to scale down its output target for the ongoing fiscal period, even though the country has more than enough dry fuel stock in the midst of subdued power demand due to coronavirus lockdown.
