India does not expect power tariff rise after coal mine auctions, says Coal Secretary

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New Delhi/ Dhanbad, Nov 20 (ANI): The government does not expect power tariffs to rise after it auctions more than 200 coal blocks, Coal Secretary Anil Swarup has said. The Coal Ministry on Tuesday had released draft guidelines for allocation of 74 coal blocks. The due date for coal auction is February 11. The Ministry will compensate prior allottees unsuccessful in coal auction. Swarup said that the idea was to keep a lid on tariff rather than adopt a revenue maximisation approach. The reserve price would be determined before December 22, while the bidding fees will be based on geological reserves of coal mines.

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