Informist, Tuesday, Apr. 1, 2025

--Coal India to enhance coal price by INR 10/tn for coking, non- coking coal

KOLKATA – Coal India Ltd. Tuesday said it is increasing the notified prices of coal by INR 10 per tonne across variants for the regulated and non-regulated sectors from April 16 onwards.

In a notice to bourses, the Maharatna company said that the prices are being increased to fund the pension corpus of its employees. The price increase comes amid stable global coal prices and demand for the fossil fuel remaining muted in the country. As on March 31, power plants in the country have over 58 million tonnes of coal stocks which is around 80% of the normative stock position.

Coal India said that the price increase is across all grades and categories of coal, that is, coking and thermal coal, and would be applicable for all its consumers. The regulated sector essentially implies state-owned power plants which usually have a fuel supply agreement with Coal India. The world's largest coal producer always prioritises supplies to the regulated sector. The non-regulated sector comprises all other sectors excluding state-owned power plants, like private companies' owned power plants, steel, ferro-alloys, cement, and other companies.

So long, Coal India was charging INR 10 in the notified coal prices from its consumers for the corpus in the pension fund.

In January, the Centre was considering to raise the cess levied on coal production to INR 25 per tonne from INR 10 per tonne for the pension corpus to secure the post-retirement benefits of more than half a million pensioners of public-sector coal mines. For around a year, the All India Coal Pensioners' Association, and the All India Association of Coal Executives have flagged concerns to raise the minimum pension of coal workers and timely disbursal of the same.

As on April 2024, Coal India had nearly 229,000 employees on its rolls and another 111,000 contract workers. Coal India has been reducing its employee count to save costs for over two years now.

On Tuesday, shares of Coal India closed 0.1% lower at INR 397.7 on the National Stock Exchange. End

IST, or Indian Standard Time, is five-and-a-half hours ahead of GMT

Reported by Avishek Rakshit

Edited by Deepshikha Bhardwaj

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