The government is set to raise prices of A and B grade coal by 100% and increase prices of C to F grade of coal by 30%. A coal ministry official told FE that the CIL board decided to raise the prices on Friday and would notify the board on Saturday midnight.
This price increase, according to the official; would not apply to the independent power producers using grades of coal below B. But in case any IIP uses A and B grade coal, it would have to pay a higher price.
Except for the IPPs and regulated sectors like the railways, the hike would be applicable to all sections, including the commercial power producers.
The last hike in coal prices was done in 2009 when the CIL had hiked prices by 11% across categories.This, according to CIL officials, would fetch an additional revenue of R4,467 crore in 2010-2011. However, this hike has been the steepest CIL has ever made and the company would get its impact just for a month this fiscal.
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