CIL to restructure coal prices from Janaury
Coal India (CIL) will restructure coal prices as it plans to switch over to the pricing based on the Gross Calorific Value (GCV) method from January. As of now it follows fixed pricing for seven grades of coal, based on 'Useful Heat Value' norms.
Coal India has started the process to ascertain the GCV of coal of all mines and buying adequate numbers of calorie measurement metres to do so.
However, coal meant for e-auction will be sold at market determined prices. Currently e-auctions make for 10-12 per cent of the total sales and comprises around 25 to 30 per cent of the company's revenue.