Tuesday 28 June 2022
- Advertisement -

Reverse bidding for auction of coal mines for power sector

New Delhi — A reverse bidding methodology was adopted in the auction of mines earmarked for power sector under the provisions of Coal Mines (Special Provisions) Act, 2015 and the rules framed thereunder in order to ensure that there is no rise in power tariffs. This was stated by Piyush Goyal, Minister of State (IC) for Power, Coal & New and Renewable Energy, in a written reply to a question in the today.

Under the reverse bidding methodology, bidders have to submit bids below the India Limited’s notified price for the corresponding grade of coal which is the ceiling price. The lowest bid submitted is taken as the fuel cost in determination of power tariff. In case, bid price reaches Rs. Zero in reverse bidding, the bidding changes to a forward one where bidders have to quote additional premium payable to the State Government where the mine is located, over and above the fixed reserve price of Rs. 100/- per tonne. The reverse bidding methodology for auction of coal mines for power sector has been designed keeping in view the interest of power consumers.

The Minister further stated that The Ceiling Price and the Closing bid in Rs./Tonne in respect of the blocks auctioned to the Power Sector is as under:

S.No. Name of the mine Celing price (Rs/mt) Closing price (Rs/mt)
Initial reverse and then forward bidding (F) for power sector
1 Tokisud North 970 1110 (F)
2 Amelia North 1250 712 (F)
3 Talabira‐I 610 478 (F)
4 Sarisatolli 700 470 (F)
5 Trans Damodar 1600 940 (F)
6 Mandakini 860 650 (F)
7 Utkal ‐ C 660 770 (F)
8 Jitpur 660 302 (F)
9 Ganeshpur 700 704 (F)

Contribute to our cause

Contribute to the nation's cause

Sirf News needs to recruit journalists in large numbers to increase the volume of its reports and articles to at least 100 a day, which will make us mainstream, which is necessary to challenge the anti-India discourse by established media houses. Besides there are monthly liabilities like the subscription fees of news agencies, the cost of a dedicated server, office maintenance, marketing expenses, etc. Donation is our only source of income. Please serve the cause of the nation by donating generously.

Join Sirf News on


Latest video

Share via

Similar Articles


Scan to donate

Swadharma QR Code
Sirf News Facebook Page QR Code
Facebook page of Sirf News: Scan to like and follow

Most Popular

%d bloggers like this: