Odisha Coal and Power Ltd seeks to sell surplus coal at discount
According to the coal ministry, India's total domestic coal production rose 7.12% from a year ago to 370 million metric tons between April 1 and August 25.
Indian state government-run Odisha Coal and Power Ltd (OCPL) is looking to sell surplus coal from its mine in eastern India at a discount, an auction document showed, indicating lower demand for the fuel in the country.
According to sources, OCPL will auction 3 million tons of its surplus coal via online auctions on Oct. 4 for power plants at a 15% discount to the base price on the national coal index.
According to the coal ministry, India's total domestic coal production rose 7.12% from a year ago to 370 million metric tons between April 1 and August 25.
Read Also : GAIL and AM Green sign MoU for jointly developing renewable energy up to 2.5 GWThe sale indicates high supply and reduced demand, said Riya Vyas, senior analyst at iEnergy Natural Resources Ltd.
"At the moment, electricity demand from coal-fired power plants is limited, while domestic production has increased as the rains subside," Vyas said, referring to the ending of the annual monsoon.
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