First coal bidding under SHAKTI a success, quantity on offer sold out

Ten private power producers offer discounts in power tariff of 1-4 paise a unit in order to secure coal supply

The new scheme of the Centre to provide coal to private power units saw the entire offered amount contracted by the power developers. Leading private sector players bid for the coal offered by state-owned Coal India Limited quoting discounts in their power tariff in range of 1-4 paise per unit.

The bidding was for power units with power purchase agreements (PPAs) but no long-term coal supply. Under the new programme for allocating coal to power units -- Scheme for Harnessing and Allocating Koyala Transparently in India (SHAKTI) -- Coal India offered assured coal supply to units through bidding. The units