Electronic auction of coal registeres decline

New Delhi: The average realisation from electronic auction of coal has registered a decline in the ongoing fiscal. "During the current financial year, average realization from e-auction of coal has dipped," Coal and Power Minister Piyush Goyal said in a written reply to the Rajya Sabha.

The figure for the first quarter of 2016-17 had come down to Rs 1,570 per tonne compared to Rs 2,184 a year ago, Goyal said. Bid prices are mainly determined by market forces, the minister said, adding that the available quantity of coal and demand of fossil fuel in the economy are the factors in question.

The Cabinet Committee on Economic Affairs had earlier approved allocation of coal linkages for non-regulated sector only through the auction route to ensure transparency. Prior to the Cabinet's approval, the Standing Linkage Committee had been deciding on allocation of long-term and short-term linkages for sectors, including power and steel.