Coal India enters e-auction fuel allocation in June Quater with 22 percent increase

In the last economic year, Coal India Limited had booked 2.1 MT coal. But now in June 2020, after considering the total allotment of coal under the four coal e-auction deals undertaking, CIL developed by about 48 percent as compared to June 2019.

New Delhi (Natural Energy News): State-owned Coal India Limited (CIL) on Friday said it registered a 21.5 percent increase in the allocation of 19.76 million tonnes (MT) of coal under four e-auction windows during the April-June quarter. A CIL statement said that the fuel allocation under all four windows of e-auction by PSUs was 16.26 MT in the same quarter a year ago.

The four categories of e-auction are raw coal e-auction, special forward e-auction for power producers, special e-auction for the non-power sector and special spot auction. Booking by the non-power sector, under a special e-auction, saw a three-fold increase in 2019 to April-June 2020 over the same period.

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CIL has allocated a total of 6.66 MT during the referenced period to the sector, which was 2.2 MT in the quarter a year ago, an increase of 4.46 MT. Under the spot e-auction, Maharatna coal miners had offered 24.4 MT during the first quarter of FY21, up 149 percent from 9.8 MT in the comparable period of 2019.

However, due to demand led by COVID-19 since March, the actual booking volume was 6.9 MT lower than 7.4 MT in the same quarter last year. For the month of June, coal booked under spot e-auction recorded a 77 percent growth of 3.7 MT compared to the same month a year ago.

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During the last financial year, CIL had booked 2.1 MT coal. PSU said, "Considering the total allotment of coal under the four coal e-auction cell schemes in June 2020, Coal India Limited developed by about 48 percent as compared to June 2019." The allocation of CIL in June was 5.83 MT as compared to 3.95 MT in the previous financial year. CIL accounts for over 80 per cent of domestic coal production.