Kolkata, January 10: To push the revenue of Coal India, the state-owned company has hiked thermal coal prices for both power and non-power consumers with immediate effect. The board in its meeting approved the revision of the price.
Along with higher prices, analysts are expecting a volume growth of 5 percent for each of the next two fiscals. The raising price has resulted into the increase of this stock by 5.7%.
Power hikes will lead to increase in electricity tariff. The coal price increase would result in 30-50 paise/per unit rise in power tariff.
“In a paradigm shift, CIL changes the pricing policy of its non-coking coal from “Band Based Pricing System” to “Per unit of calorific value of coal (Rs/Kcal)”, a global system of coal pricing, to make it more transparent, simpler and consumer friendly,” CIL said.