Home MarketsCommodities Power producers owe more than ₹19,000 crore to coal mining PSUs as of December 2022

Power producers owe more than ₹19,000 crore to coal mining PSUs as of December 2022

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The power sector arrears for coal supplied by mining PSUs increased by 10% to Rs 19,180 on a MoM basis at the end of December 2022, most of which is owed to Coal India (CIL).

According to the latest data from the Ministry of Coal, the power generation company owed the mining giant Rs.

Monthly unpaid membership fees have increased by 5% from 14,631.15 kroner in November 2022 for the country’s largest mining company. Similarly, SCCL membership fees increased by 37% from 2,764 kroner. during the same review period.

Increase in CIL membership fees

CIL’s outstanding dues in December were the second highest in calendar year 2022, after July. Membership fees have been increasing little by little since November.

In October, outstanding membership fees decreased for the third straight month. The average production cost of CIL is about ₹1,310.88 per ton.

The membership fee at the end of January 2022 was Rs 15,097.01 and decreased continuously to Rs 15,037.32 in February and Rs 12,272.41 in March 2022. April 2022 marks the start of the peak power demand season, which marks this year as well. Due to the unusually high temperature rise, power sector dues started to increase in the month at Rs 12,819.09.

Membership fees continued to increase in May (Rs.1382.5 crore), June (Rs.1525.2 crore) and reached a record high in 2022 at Rs.1582.4 crore in July. The balance on the CIL began to decline from his August (Rs. 15,143.31) and next he continued his journey north for two consecutive months.

production and target

India’s coal production reached 607.97 million tonnes from April to December this year, up 16.39% year-on-year, compared to 522.34 mt in the same period in 2022.

CIL reported coal production to December 2023 was 479.05 tonnes, up 15.82% from 413.63 tonnes in the same period last year. CIL is expected to exceed the 700 mt target set for FY2011.

Overall, the Ministry of Coal aims to produce more than 1 billion tons of coal in FY24. To this end, Coal Secretary AL Meena conducted a detailed review of all coal companies.

It was decided to anchor 780 mt in CIL, 75 mt in SCCL and 162 mt in captive and commercial mines. A total of 290 mines operate in his CIL, 97 of which produce more than 1 tonne per year.

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