India says it has ample coal stocks for power sector

imageStock Markets13 minutes ago (Oct 10, 2021 07:10AM ET)

(C) Reuters. FILE PHOTO: A labourer works inside a coal yard on the outskirts of Ahmedabad, India, April 6, 2017. REUTERS/Amit Dave//File Photo

NEW DELHI (Reuters) – India has ample coal stocks to meet power sector demand, a coal ministry statement said on Sunday, a day after the Delhi Chief Minister said a shortage of the fuel meant the Indian capital could face a power crisis https://www.reuters.com/world/india/new-delhi-chief-minister-warns-power-crisis-coal-stocks-decline-2021-10-09.

State-run Coal India Ltd is using its 40 million tonne stocks to replenish utilities, which together have 7.2 million tonnes of inventory, equivalent to four days’ requirements, the ministry statement said.

A lack of coal has caused a supply shortage in some eastern and northern states, with residents in the regions experiencing power cuts https://www.reuters.com/world/india/exclusive-indian-states-suffer-power-cuts-coal-stocks-shrink-2021-10-08 stretching to up to 14 hours a day.

Monsoon rains affected coal supplies to power plants and high global prices curtailed generation by utilities that rely on imported coal, the ministry said.

In a separate statement, the power ministry said coal supplies to power utilities on Saturday rose to 1.92 million tonnes, while consumption was 1.87 million tonnes.

It said the level of coal stocks held by power companies will rise as Coal India is ramping up the supplies.

In India, over half of 135 coal-fired power plants, which supply around 70% of the country’s electricity, have only enough fuel stocks to last less than three days, Reuters reported on Friday.

India says it has ample coal stocks for power sector

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.

Related Articles

Alec Baldwin was aiming at camera when gun discharged – affadavit

World18 minutes ago (Oct 25, 2021 12:05AM ET) (C) Reuters. FILE PHOTO: An image of cinematographer Halyna Hutchins, who died after being shot by Alec...

Asian shares edge higher, dollar weak as traders await earnings

(C) Reuters. FILE PHOTO: A man wearing a protective face mask, following an outbreak of the coronavirus, talks on his mobile phone in front...

Exxon Mobil keen to build carbon storage hubs in SE Asia, similar to Houston project

Commodities1 hour ago (Oct 24, 2021 11:00PM ET) (C) Reuters. FILE PHOTO: An Exxon gas station is seen in Houston, Texas, U.S., April 30,...

Latest Posts

Stay in touch

Join the exclusive subscription today and get premium articles for free

Categories