Coal Secretary SK Srivastava has reportedly informed a news agency that the ultimate right to fix price of coal would be vested with Coal India (CIL) even after the setting up of a regulator.
He said the proposed coal regulator would out the principles and methodologies upon which pricing will be done while the state-run miner CIL will retain the right to set prices.
It may be recalled that recently CIL raised prices of its low-grade coal by 10 percent while lowering the price of higher grade coal by 12 percent.
Further, he said the regulator will look into issues including those related to grade and quality of the fuel.
If there is any dispute, there are two ways of addressing it. One is through the FSA (fuel supply agreement) arbitration clause or the two parties can go to the regulator directly, also with regard to pricing, he said.
State-run power producer NTPC has long complained that it is forced to accept poor quality coal from Coal India which crimps its output and keeps the country reliant on costly imports. The two companies are holding discussions to reach an amicable solution.
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