HomeBusinessPower plants cut coal imports for blending by 37 pc

Power plants cut coal imports for blending by 37 pc

New Delhi, March 22 (IANS) There has been a reduction of 36.69 per cent in the volume of coal imported for blending by thermal power plants, amounting to 19.36 million tons (MT) during April 2023 to January 2024, compared to the same period of the previous year, the Coal Ministry said on Friday.

This reduction in imported coal for blending signifies a shift towards utilising domestic coal, thus reducing reliance on imports. Imported coal is blended with coal from domestic mines to increase its calorific value.

Conversely, there has been a notable increase of 94.21 per cent in coal imports by imported coal-based power plants during April 2023 to January 2024, compared to the corresponding period in the previous year. These power plants are designed to run only on imported coal, and the growth in imports has been spurred by the sharp decline in international prices of the fuel.

India primarily imports thermal coal from South Africa and Indonesia, and average prices from these countries decreased by approximately 54 per cent and 38 per cent respectively during April 2023 to January 2024, compared to the corresponding period in the previous year.

Overall there has been a reduction in the share of coal import in the total coal consumption in the country. The share of coal import declined to 21 per cent during April 2023 to January 2024, which was 22.48 per cent during the corresponding period of previous year, according to the Coal Ministry statement.

Furthermore, there has been a substantial reduction in the auction premium received by CIL, over the notified price of coal. It has decreased from 278 per cent in the period from April 2022 to January 2023, to 82 per cent during the same period in the fiscal year 2023-24.

The reduction in auction premium is a testament to the ample availability of coal (currently 96 MT coal stock with coal companies) in the market, the statement added.

–IANS

sps/dan

Go to Source

Disclaimer

The information contained in this website is for general information purposes only. The information is provided by TodayIndia.news and while we endeavour to keep the information up to date and correct, we make no representations or warranties of any kind, express or implied, about the completeness, accuracy, reliability, suitability or availability with respect to the website or the information, products, services, or related graphics contained on the website for any purpose. Any reliance you place on such information is therefore strictly at your own risk.

In no event will we be liable for any loss or damage including without limitation, indirect or consequential loss or damage, or any loss or damage whatsoever arising from loss of data or profits arising out of, or in connection with, the use of this website.

Through this website you are able to link to other websites which are not under the control of TodayIndia.news We have no control over the nature, content and availability of those sites. The inclusion of any links does not necessarily imply a recommendation or endorse the views expressed within them.

Every effort is made to keep the website up and running smoothly. However, TodayIndia.news takes no responsibility for, and will not be liable for, the website being temporarily unavailable due to technical issues beyond our control.

For any legal details or query please visit original source link given with news or click on Go to Source.

Our translation service aims to offer the most accurate translation possible and we rarely experience any issues with news post. However, as the translation is carried out by third part tool there is a possibility for error to cause the occasional inaccuracy. We therefore require you to accept this disclaimer before confirming any translation news with us.

If you are not willing to accept this disclaimer then we recommend reading news post in its original language.

RELATED ARTICLES
- Advertisment -

Most Popular