Coal India meeting with customers over new pricing policy: chairman

Coal India has planned several meetings with its customers to address their concerns over the new pricing policy which is coming into force from the first week of April, its chairman Gopal Singh said.

Under the new policy, Coal India will charge on every unit of gross calorific value (GCV) of the dry fuel, doing away with the grade policy at present.

Power producers have raised concerns that the new pricing policy may increase the cost of power production as it does not take into account the weight of moisture in coal.

"CIL considers all stakeholders before implementing the pricing policy. It has also called several meetings with the consumers to apprise them the benefits of the new policy that would be implemented in the first week of April," Coal India Chairman Gopal Singh said.

"The objective is to bring transparency. It is a global practice and power producers are welcomed to highlight any issue. We are not in a hurry."

Indian captive power producers association, General Secretary Rajiv Agrawal said, "the billing will now onwards be actual gross calorific value (GCV) and it is a concern that they are not considering the moisture".

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

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