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Apr 02, 2012 08:09 PM IST | Source: CNBC-TV18

Captive coal blocks may sell power via tariff-based bids

The county is facing power crunch due to acute coal shortage. CNBC-TV18 learns from sources that the Power Ministry wrote to the Coal Ministry on March 29, 2012. It said that benefits of government allotted coal blocks must go to consumers.

CNBC-TV18 learns that all captive coal blocks will have to sell power via tariff-based bids. This as the government wants the consumers to benefit from the allocated blocks, reports Siddharth Zarabi.

The important news is that all companies that have got captive coal blocks, once the formal orders are issued, will necessarily have to sell the entire power via competitive bids.

This move has been initiated by the power ministry, which has now written to the coal ministry, specifying that the benefits of all the blocks allotted by the government must go to consumers. In the projects, which are going to come up this year, the condition will be in the paper work. Even for projects, which are already up, it is quite possible this sale of power only via the competitive route could also be written as a condition that will ofcourse apply from a specific date.

So, in some ways, even as the entire issue of the CAG

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