Coal 2023: analysis and forecast to 2026
Latest IEA market report sees lower demand to 2026, based on current policies, but stronger actions are needed to drive a steeper decline towards meeting international climate goals. After reaching an
Fuel Pricing
-
Note on coal price pooling to be placed before CCEA
The Cabinet note on pooling the price of coal through blending domestic fossil fuel with imported coal costs is likely to be placed before the Cabinet Committee on Economic Affairs (CCEA) next month. “It was further agreed that the note on pooled prices would be placed for CCEA’s consideration by the third week of January,” said the minutes of a meeting, which was held recently under the chairmanship of Principal Secretary to the Prime Minister, Pulok Chatterji. The meeting was attended by Coal Secretary S K Srivastava and Power Secretary Uma Shankar, among others.
-
Rangarajan panel said to have suggested doubling of gas price
The panel, headed by Prime Minister’s Economic Advisory Council Chairman C Rangarajan, was tasked to suggest design of future contracts for exploration and production of oil and gas The Rangarajan committee is believed to have suggested a complex pricing formula that will lead to near-doubling of the natural gas price to about $8 (Rs 439). However, it is unclear if this will override the price discovery mechanism set out in current oil and gas contracts.
-
Power Min: Coal regulator should curb ‘profiteering’
The power ministry has told an inter-ministerial panel that the proposed regulator for the coal sector should be equipped with adequate powers to decide upon the prices of the fuel to curb the “profiteering” tendencies of coal companies. It should also be empowered to adjudicate disputes between coal producers and buyers. Ahead of the next meeting of the Group of Ministers constituted to suggest the powers and functions of the proposed regulator, the ministry contended that while power purchase agreements are regulated by the concerned electricity regulatory commissions, coal companies are not.
-
Power Min: Coal regulator should curb ‘profiteering’
The power ministry has told an inter-ministerial panel that the proposed regulator for the coal sector should be equipped with adequate powers to decide upon the prices of the fuel to curb the “profiteering”
-
Rashtriya Chemicals stake sale on Cabinet agenda
Meet this week to discuss proposal to increase 2013-14 wheat MSP by Rs 100 Riding high on NMDC stake sale garnering Rs 6,000 crore, the Cabinet is expected to discuss on Saturday a proposal to sell 12.5 per cent of its 92.5-per cent stake in state-run Rashtriya Chemicals and Fertilizers Ltd (RCF). Officials said the Cabinet is also expected to discuss a proposal from the agriculture ministry to raise the minimum support price (MSP) of wheat for the 2013-14 crop marketing season, which starts from
-
Ministry blocks RIL’s KG-D6 gas price hike plan
The fertiliser ministry has opposed Reliance Industries' demand for hiking the KG-D6 gas price in line with the Asian LNG spot price, effective from April 2014. The ministry wants the price to be not more than $8/mmBtu. RIL pitched for the gas price, post March 2014, to be about 10% below the spot price of LNG imported from Qatar — $12-13 at current rates. According to sources, during discussions with the government, the fertiliser ministry contended that such a price (on which consumers will have to pay an extra $1-1.5 to cover transporation charges and marketing margins) is not viable for the fertiliser industry whose output is highly subsidised, adding that any such move will cause a burden on the exchequer.
-
Coal to approach oil as top energy source by 2017: IEA
Global demand continues to be driven by Asian economies. India will increase its influence in coal markets thanks to large reserves Global coal demand will rise 2.6 per cent annually in the next six years and challenge oil as the top energy source, according to the International Energy Agency (IEA). Coal consumption will climb to 4.32 billion tonnes of oil equivalent by 2017, compared with about 4.4 billion for oil, the Paris-based agency said on Tuesday in its first Medium-Term Coal Market Report. Usage will rise in all regions except the US, where cheap natural gas has damped demand, the IEA said.
-
Miners can determine coal prices: Ministry
Ahead of the second meeting of a ministerial panel to give final shape to the Coal Regulatory Authority Bill on Tuesday, the coal ministry has proposed that coal producers can determine the price of the commodity. However, the proposed coal regulator should decide the methodology to fix prices to check abuse of monopoly by any coal producer, the ministry said. The coal ministry has also rolled back a crucial proposal to give power of authorisation in grant of leases to the regulator.
-
Want wheat? Then buy costly kerosene
Adding fuel to fire, people haven’t received subsidy Mahipal Singh Yadav (31) is a contractual junior manager at the Kotkasim Gram Sewa Sahakari Samiti. Joining the cooperative, he had hoped, would be like any other job. However, since the direct cash transfer of kerosene subsidies scheme was piloted here, Mr. Yadav has found himself at the receiving end of people’s anger. The KGSSS operates five fair price shops (FPS) in the Kotkasim block. As the scheme came into effect, kerosene prices were hiked to Rs. 45 and then to Rs. 50 a litre from Rs. 15.
-
Rangarajan panel may ask govt to go for output-linked payment for oil, gas contracts
The Prime Minister-appointed Rangarajan Committee may this week suggest sweeping changes in future oil and gas contracts by asking explorers to bid for a percentage of output they would share with the government. Sources said the panel may ask the government to move to a production-linked payment regime where explorers will be required to bid for the government share of production after royalty.