Coal India to adopt new billing mechanism for consumers from FY19
The world's largest coal miner, Coal India, will be shifting its billing mechanism for the consumers in-line with the global trend from the coming fiscal year. As per the plan, the sales bills would be raised based on the actual consumption of the gross calorific value (GCV) which is expressed as kilo calorie per kg of coal.Currently, the consumers are charged based on the coal grade. Under the prevalent system, a GCV range is decided for a certain grade of coal and prices are fixed as per the grade. But, under the new system, the consumer will pay exactly for the GCV he/she is consuming.At present, around 17 such grades with variable GCV ranges are in vogue.As per a Coal India official, the current pricing mechanism for a particular grade is based on the mid-point of the GCV range and is priced accordingly. However, under the revision it will be done away with.To ensure the same, Coal India will be introducing third party sampling of all despatches including auctioned coal. Based on .11-01-2018