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Saturday, 30 May 09
COAL INDIA SIGNS FUEL SUPPLY AGREEMENT WITH NTPC - SINDHTODAY
 India’s largest coal miner Coal India Friday inked a much-awaited fuel supply agreement (FSA) with power generation major NTPC Ltd.
In the agreement both sides have settled for a ‘trigger level’ of 90 percent. Trigger level is the minimum assured level of coal supply and offtake, failing which either of the parties will attract penalty.
Earlier Coal India had insisted on a trigger level of 75 percent, but NTPC had asked for 90 percent.
The FSA signed here is the first between Coal India and any power utility and would serve as the model for all subsequent agreements between coal companies and power agencies, Coal India chairman Partha Bhattacharyya said.
“We will now sign such pacts with state power utilities and other power companies,” he told reporters.
As per the new coal distribution policy (NCDP) of the central government, coal companies are required to supply the black gold to consumers through legally enforceable FSAs with performance-based ‘take or pay’ provision.
Out of its 1,222 valid consumers, Coal India has formulated FSAs with 1,167, but so far it had not entered into any such pact with any power utility.
More than 75 percent of Coal India’s production is lapped up by power utilities.
The Central Electricity Authority (CEA), which played a pivotal role in formulating the FSA, has developed an all India coal supply matrix for all 78 power stations in which Coal India will supply a total aggregate annual contracted quantity (ACQ) of 306 million tonnes, Bhattacharyya said.
The tenure of the FSA with power utilities will be a maximum of 20 years or till the end of the life of the power station, whichever is earlier. However, there are provisions for a joint review of the ACQ after five years.
The coal company will get a bonus if it can supply more than the trigger level of 90 percent of the ACQ, but will have to shell out a penalty to the power agency if the supply falls below the trigger level.
Similarly, the power utilities will be eligible for a bonus if they can lift more than the trigger level of 90 percent of the ACQ, but pay a compensation in case the lifted quantity falls below the trigger level.
NTPC chairman R.S. Sharma was also present at the media meet.
Source: http://www.sindhtoday.net/news/1/15435.htm
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Wednesday, 13 May 09
INDONESIA ADARO NET PROFIT, REVENUE TO RISE IN 2009 - REUTERS
INDONESIA's largest coal producer by market value, PT Adaro Energy Tbk, expects double-digit growth in revenue and net profit this year, an officia ...
Wednesday, 13 May 09
ALPHA TO BUY RIVAL, CREATING NEW US COAL HEAVYWEIGHT - MININGWEEKLY.COM
Alpha Natural Resources, the biggest supplier of metallurgical coal in the US, has agreed to buy Maryland-based rival Foundation Coal for about $1,4 ...
Tuesday, 12 May 09
CHINA MINERS CUT COAL PRICE OFFER TO JAPAN UTILITIES - ALIBABA.COM
* Producers cut offer to $75.50 a tonne from over $80
* Negotiations may conclude soon as price gap narrows
* New offer at discount of about 43 pe ...
Tuesday, 12 May 09
INDO TAMBANGRAYA SEES 2010 COAL OUTPUT UP 25 PCT - REUTERS
Indonesian coal miner, PT Indo Tambangraya Megah (ITMG.JK), expects coal output to increase by up to 25 percent next year as production kicks in at ...
Tuesday, 12 May 09
INDIKA EXPECTS TO INCREASE COAL PRODUCTION BY 12.68% IN 2010 - THE JAKARTA POST
Energy and infrastructure company PT Indika Energy, the parent company of Indonesia's third largest coal producer PT Kideco Jaya Agung, expects its ...
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- Barasentosa Lestari - Indonesia
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- Kaltim Prima Coal - Indonesia
- Parliament of New Zealand
- Formosa Plastics Group - Taiwan
- Indian Energy Exchange, India
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- Kobexindo Tractors - Indoneisa
- Energy Development Corp, Philippines
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- The University of Queensland
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- IEA Clean Coal Centre - UK
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- Commonwealth Bank - Australia
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- Interocean Group of Companies - India
- McConnell Dowell - Australia
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- Kartika Selabumi Mining - Indonesia
- White Energy Company Limited
- Bank of Tokyo Mitsubishi UFJ Ltd
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- Mjunction Services Limited - India
- Minerals Council of Australia
- Economic Council, Georgia
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- San Jose City I Power Corp, Philippines
- MS Steel International - UAE
- Gujarat Electricity Regulatory Commission - India
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- Posco Energy - South Korea
- Aboitiz Power Corporation - Philippines
- Larsen & Toubro Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Meenaskhi Energy Private Limited - India
- Sojitz Corporation - Japan
- Edison Trading Spa - Italy
- Australian Commodity Traders Exchange
- Kideco Jaya Agung - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Neyveli Lignite Corporation Ltd, - India
- LBH Netherlands Bv - Netherlands
- Indo Tambangraya Megah - Indonesia
- Thai Mozambique Logistica
- The Treasury - Australian Government
- Singapore Mercantile Exchange
- Kalimantan Lumbung Energi - Indonesia
- VISA Power Limited - India
- SN Aboitiz Power Inc, Philippines
- Standard Chartered Bank - UAE
- Videocon Industries ltd - India
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- Latin American Coal - Colombia
- Sakthi Sugars Limited - India
- Sindya Power Generating Company Private Ltd
- Trasteel International SA, Italy
- Toyota Tsusho Corporation, Japan
- CNBM International Corporation - China
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- Medco Energi Mining Internasional
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- SMG Consultants - Indonesia
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- Global Coal Blending Company Limited - Australia
- Siam City Cement PLC, Thailand
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- Uttam Galva Steels Limited - India
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- Therma Luzon, Inc, Philippines
- Chettinad Cement Corporation Ltd - India
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- Goldman Sachs - Singapore
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- International Coal Ventures Pvt Ltd - India
- Vedanta Resources Plc - India
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- European Bulk Services B.V. - Netherlands
- Electricity Authority, New Zealand
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- Directorate General of MIneral and Coal - Indonesia
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- Pipit Mutiara Jaya. PT, Indonesia
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- Anglo American - United Kingdom
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- India Bulls Power Limited - India
- London Commodity Brokers - England
- Orica Australia Pty. Ltd.
- Port Waratah Coal Services - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sinarmas Energy and Mining - Indonesia
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- Indonesian Coal Mining Association
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- Global Business Power Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Baramulti Group, Indonesia
- Ministry of Mines - Canada
- Vizag Seaport Private Limited - India
- Chamber of Mines of South Africa
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- Energy Link Ltd, New Zealand
- Dalmia Cement Bharat India
- Alfred C Toepfer International GmbH - Germany
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- Samtan Co., Ltd - South Korea
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- Australian Coal Association
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- Planning Commission, India
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