New Delhi: State-owned Coal India Limited (CIL) is poised to post 16.6 percent growth in coal despatch to its non-regulated sector (NRS) customers in the fourth quarter of the ongoing fiscal, compared to the preceding quarter, said the company in a statement on Friday.
‘CIL is likely to close the ongoing quarter with 33 MTs’
“Coal despatch to NRS customers is averaging 3.67 lakh tonnes per day in Q4 FY’23 till date. CIL is likely to close the ongoing quarter with 33 million tonnes (MTs) supply to this sector. It would mean 4.7 MTs more coal to NRS, or a jump of 16.6 percent, compared to 28.3 MTs that the company supplied in the third quarter of the year,” the statement added.
‘CIL’s coal stock increased by 6 lakh tonnes’
“Supplies to NRS during January-March 2023 expected at 33 MT would be 3.1 MTs more against the comparable quarter of FY’22 representing double-digit growth of 10.4 percent. CIL supplied 29.9 MTs to the non-regulated sector in the final quarter of FY’22,” the statement said.
Further, it added, “The improved supplies to NRS, from the quarter beginning January’23, were fueled by the accretion in the coal inventory at CIL’s pitheads. In the current month of March coal stock increase at CIL’s end was to the tune of six lakh tonnes per day so far despite higher supplies to power utilities.”
CIL’s stocks are expected to be 68 MT
CIL’s pithead stock which was 32 MTs in the third quarter ending December’22 has doubled to a comfortable buffer of 63.8 MTs as on March 23. CIL’s stocks are expected to be 68 MT by the fiscal’s closure. “We are making all efforts to supply higher quantities to NRS customers without affecting supplies to the power sector, through increased production,” said a CIL official.
CIL has booked close to 16 MTs in e-auctions
“In the ongoing quarter of FY’23, CIL has booked close to 16 MTs in e-auctions which is one MT more than 15 MTs of the previous quarter. With more auctions lined up in the last week of March coal booking will go even higher by the quarter’s end,” the statement said.
“CIL has the option of placing up to 20 percent of its total production under the e-auction hammer after fulfilling its fuel supply agreements. Though e-auction sales fetch higher add-ons over the notified prices, CIL’s priority is to fulfill its FSA commitments and meet the demand surge from the power sector,” it added.
News & Image Source : psuwatch.com
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