Scheme for Harnessing and Allocating Koyala (Coal) Transparently in India (SHAKTI)
The Coal India LTD has announced that the board has cleared the way for signing up an agreement with the private power produces in entering long term agreement for fuel supply. The step has been taken by the company after considering the auction of the coal supply to the power supply companies. The initiative has been taken by the government and coal company with an aim to enter long term contract for lease for purchase agreement.
The initiative was taken by the coal company on 20th Dec 2017 after the approval of the coal board. The initiative was taken after considering the talks with the coal board and all other independent power producing companies within the country.
Guidelines of the new scheme
- According to the latest updates, the new scheme was launched with an aim to allocate and harness the process of transparency in the coal sector within the country.
- According to the sources, the government aims at allocating over 27.18 million tones of coal on annual basis that will be booked by the bidders.
- It is also expected that the total coal linkage will also be used to generate over 47 billion units on an annual basis.
- With the new implementation of the scheme it is also estimated that the sector will save over RS 125 crore on an annual basis from this sector.
- This amount is expected to be saved over a period of 25 years of time from the date of implementation of the scheme.
- It is also obvious that the central government had taken an initiative to introduce one such scheme termed as the Shakti scheme that was meant to replace the coal granting linkage system.
- According to the statements made by Coal India, Ministry of Coal and Singareni collieries the auction benefit will be offered to the companies on the basis of the prices notified by the government for auction.
- This will also follow the agreement related to the power purchase for the domestic use of coal.
- The government has also made it very clear that the bidding parameter will offer the customers with a discount over the present price and tariff that each of the power producing company is willing to invest.
- This will also offer with an extra benefit of discount on tariff that is placed by the bidders at the rate of 2.72 paise for each Kilo Watt Hour.
- At this set rate it is expected that the company will have to bear around Rs 127 crore on yearly basis.
- According to the statements made by the coal producing board a facility of evacuation charges at the rate of Rs 50 per tone that will be given against the dispatch of the coal once the rapid system of agreement has been entered.
- With this it is expected that the power producing companies will be flexible to generate a yearly revenue of around Rs 2500 crore. It is also expected that for present fiscal year the company will generate a revenue of Rs 800 crore.
It is obvious that with the said linkage between the two sectors, the coal company and government sector expects to regulate the coal bidding for power generation within the country.
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