News Brief | October 2014
Coal India to hike prices
According to reports, Coal India may raise prices of lower-grade coal, used to generate power, by a little over 10 per cent, a move that will help offset the fall in miner´s revenues from selling smaller volumes through e-auctions. A proposal to rationalise prices of coal had been mooted by Eastern Coalfields (ECL), given the huge disparity in cost per kcal/kg between higher and lower grades of coal. The director said coal and power minister, Piyush Goyal, had, in principle, agreed to the idea of rationalising prices and CIL was awaiting a go-ahead.