India coal news 2019 bonus

4.3/5 - (3 votes)

“Various stakeholders are to be blamed for the situation,” said Garg, who described the situation as “scary but likely to get better soon”.

All bonuses are here!

While this is no different from every year, more coal is usually imported to bridge the gap in production. But due to a global energy crisis, which has seen international prices hit record highs, it has been more of a financial challenge to import more coal, leading to greater shortages than usual. According to data from the Central Electricity Authority of India, nearly 80% of the country’s coal-fired plants were in the critical, or “supercritical” stage, meaning their stocks could run out in less than five days. First published on Tue 12 Oct 2021 02.27 BST

Over the past two decades, domestic coal production in India has continued to rise exponentially, though there was a minor dip in production of less than 1% from 2019 to 2020 due to the pandemic. “Developers were playing safe, thinking that there was a high chance of another Covid wave hitting around this time of the year which would suppress demand. So they didn’t do enough to stock coal at their end. India is facing a looming power crisis, as stocks of coal in power plants have fallen to unprecedentedly low levels and states are warning of power blackouts. On Tuesday the government asked power producers to import up to 10% of their necessary coal stocks and warned states that federal companies will curb their power supplies if they are found selling electricity on power exchanges to cash in on surging prices. “I think the government is using this as an opportunity to push for more coal mining or coal-based power generation,” said Garg. “But we should avoid investing money in assets which will become stranded.

This year’s heavy monsoon rains have also been blamed for affecting domestic coal mining due to flooding and impeding the dispatch of coal from the mines. States including Rajasthan, Jharkhand and Bihar have been experiencing power cuts lasting up to 14 hours. India already has plans to boost its domestic coal production to 1bn tons by 2024. Energy providers and India’s state-owned coal producer, Coal India Limited, have instead been accused of failing to stockpile sufficient amounts to meet the predicted rise in demand. Eight in 10 thermal power stations within days of running out as state blackouts spark protests “The situation is used by few stakeholders to push forward more opening up of coalmines citing the reason as low coal availability but that’s not true at all,” said Dahiya.

Quick registration

Leave a Reply

Share via
Copy link
Powered by Social Snap