Cabinet approves offering of coal through common e-auction window

Cabinet Committee on Economic Affairs has approved offering of coal by coal companies through a common e-auction window instead of sector-specific auctions. This e-auction will cater to all the sectors like power sector and non-regulated sector. Coal would be offered through this auction in place of the present system of sector-specific auctions. Major impact of this initiative include employment generation potential. Market distortions would be removed and single rate for all the consumers will evolve in the e-auction market. It shall increase operational efficiencies and lead to an increase in domestic coal demand by efficiency in domestic coal market.  Coal offered through the single e-auction window shall be transport mode agnostic with default option being through Rail mode. However, coal may be lifted by the consumers through the road mode/other modes depending upon their choice and suitability without paying any additional charges or discount to the coal companies.

Centre has said that it is closely monitoring global energy markets as well as potential energy supply disruptions as a fall out of the evolving geopolitical situation. Ministry of Petroleum and Natural Gas said that India stands ready to take appropriate action for ensuring ongoing supplies at stable prices with a view to ensuring energy justice for its citizens and for just energy transition towards a net-zero future. It added that India is also committed to supporting initiatives for releases from Strategic Petroleum Reserves, for mitigating market volatility and calming the rise in crude oil prices.