Coal year-end review Consumers to gain Rs 69310 crore from reduced power tariff

New Delhi: Power consumers are likely to gain to the extent of Rs 69,310 crore from the reduction in electricity tariff enabled by the auction of nine coal blocks to power sector firms so far, power ministry said in a statement today. 
 
The auction proceeds from 83 coal mines allocated so far are estimated at over Rs 3.95 lakh crore over the life of the mines, which will be available to the coal bearing states. The actual revenue generated from these coal mines up to October 2016 is Rs 2,779 crore excluding royalty, cess and taxes, the ministry said. 
 
“The benefit to consumers in terms of reduction of electricity tariff from auction of 9 coal blocks to ‘Power’ Sector is likely to be about Rs 69,310.97 crore,” the ministry said in the statement.

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