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Cabinet approves coal price pooling in-principle
Wednesday February 06, 2013 01:02:42 PM,
IANS
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New Delhi: The Cabinet
Committee on Economic Affairs (CCEA) Tuesday gave its
in-principle' approval for coal pool pricing by which prices of
domestic and imported coal are averaged to get a uniform price for
the fuel in the country.
"The in-principle decision has been taken. There are some data
that have to be put into these principles," said Information and
Broadcasting Minister Manish Tewari told media persons after the
meeting.
"The structure of the decision has been put in place. And the
ministries of coal and power would come back with the specifics.
Basic principles and parameters have been identified. The plotting
of real numbers has to be done," he said.
The CCEA would again deliberate on the issue, he said.
Without indicating any timeline, Tewari said: "Both the ministries
have appreciated the urgencies and they would be coming back as
quickly as possible."
A decision on price pooling has pending for long because of
differences between the coal and power ministries on how the
impact of higher imported coal prices will be shared between state
miner Coal India (CIL) and power companies.
The power ministry had opined that the difference in cost of
imported and domestic coal should be added to the cost of
indigenous fuel at the time of finalising the proposal for pooling
coal prices.
The CIL board had earlier approved the modified fuel supply
agreement (FSA) with power companies without price-pooling, for
assured supply of 65 percent through domestic sources and 15
percent from imports at a cost plus basis.
CIL has said if price pooling is approved, then 15 percent supply
of imported coal will be not in the cost plus method, but by the
pooling mechanism.
State governments have voiced their reservations about price
pooling for reasons of its effect of increasing power costs.
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