Cornered by the Ministry of Power (MoP) and subsequently followed-up by the coal ministry, the public sector coal producer, Coal India Limited (CIL), has finally agreed to implement FSAs towards supply of lower quantities of coal in to the plants commissioned in 2009-10, in regards to their respective ACQs, in the current fiscal. CIL has also assured the power ministry that it will proactively take-up execution of FSAs with the power utilities for normative quantities corresponding to 90% PLF for the new coal-based units.While the penalty trigger would still be set to 90% of ACQ, no performance bonus would be applicable. Such a dispensation, according to the MoP, is required as the availability of coal for such newly-commissioned plants is estimated to be only 19.64 million tonnes (MT), with CIL not able to supply more than a total of 335 MT to the power sector. Moreover, these new plants are likely to need less coal this year than than their normative annual requirement, due to the ongoing stabilization period. Under these proposed FSAs, coal supply would be maintained at ACQ levels from the next year onwards. The tenure of the agreements would be 20 years or till the end of life of the power stations, whichever is earlier.
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