CIL’s Subsidiaries Strictly Followed the Provisional Calendar in Apr’18

In order to better comply the e-auction schedule with its power consumers, CIL had floated a provisional calendar at the beginning of FY19, which has been strictly followed by the subsidiaries in Apr’18.

Under the Special Forward E-auction (SFEA) for power producers, CIL had scheduled sale of 14,900,000 MT coal in Apr’18, as per its provisional calendar. In response the 6 subsidiaries had come up with the auction of 14,800,000 MT coal during the month.

NECL was excluded in the provisional calendar, while no auction was scheduled for NCL in the current month.

Among the remaining subsidiaries, 5 of them had offered the exact amount of coal that was mentioned in the provisional calendar.

However, CCL had offered 100,000 MT coal lesser than its scheduled quantity of 4,940,000 MT in Apr’18. The company had previously offered 4,940,000 MT coal (as per its schedule) in Special forward auction which was to be held on 3 Apr’18 for a 3 month’s duration of Apr’18-May’18. But due to some unavoidable reasons, the company had cancelled the auction.

The 3 monthly auction has now been moved from Apr’18-Jun’18 to May’18-Jul’18, which is scheduled to be held on 7 May’18.

Special Forward E-Auction for Power Producers in Apr’18:

Source: CoalMint Research
Quantity in MT

The Special Forward E-auction for power producers allows the consumers to lift coal over longer time duration. MCL and WCL had conducted the auction for 6-month period (Apr’18-Sep’18), while ECL, CCL, SECL, BCCL have conducted these auction for 3-month’s period.

CIL has emphasised on improving the coal supplies to the power plants, to avoid the circumstances that had led to the coal shortage last fiscal.

On the back of the ongoing demand for summer season, coal stock at the power plants (having coal linkage) has fallen 3.23% M-o-M to 15.8 MnT as on 2 May’18, compared with 16.329 MnT recorded on 2 Apr’18.