Coal auctions for power firms soon: Piyush Goyal

Kolkata, July 3 (IANS) Coal and Power Minister Piyush Goyal on Friday said that the coal ministry is coming up with a set of auctions for power companies which doesn’t have coal linkages.

“There will be two auctions for power companies based on their power purchase agreement (PPA),” he said on the sidelines of an event organised by Bharat Chamber of Commerce.

Goyal said that for power companies which have PPA with state-owned Coal India Ltd, the base price for the auctions will be based on the price of purchase from the coal producers and an additional 20 percent.

For the firms which doesn’t have PPA, the base price has been fixed at the price of coal purchase from Coal India and an additional 40 percent, he added.

“This is a temporary solution and we will come up with procedural guidelines soon,” he said.

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