Indian state coal producer looks to sell surplus coal at discount
NEW DELHI - Indian State government-run Odisha Coal and Power Limited (OCPL) is looking to sell surplus coal from its mine in eastern India at a discount, an auction document showed, indicating lower demand for the fuel in the country.
OCPL will auction three-million tons of its surplus coal via online auctions on October 4 for power plants at a 15% discount to the base price on the national coal index, according to an auction advertisement in the Times of India newspaper on Sunday.
India's total domestic coal production rose 7.12% from a year ago to reach 370-million metric tons between April 1 to August 25, according to coal ministry data.
The sale indicates high supply and reduced demand, said Riya Vyas, senior analyst at iEnergy Natural Resources.
"At the moment, electricity demand from coal-fired power plants is limited, while domestic production has increased as the rains subside," Vyas said, referring to the ending of the annual monsoon.
The country's coal production in the last fiscal year to March 31 rose to a record 997.828-million tons, a 12% rise from a year ago. More than 75% of India's power generation was from coal in 2023.
India imported 176-million tons of thermal coal in 2023, driven mainly by power plants.
India's thermal coal imports are expected to fall this year for the first time since the Covid-19 pandemic due to increasing domestic output and record high inventories.
Comments
Press Office
Announcements
What's On
Subscribe to improve your user experience...
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation