CIL to introduce GCV-based pricing mechanism by July 2018

Coal India Limited expects to introduce the new gross calorific value (GCV)-based coal pricing mechanism by July 2018. Earlier, the company had proposed the release of the new pricing mechanism in April 2018. The new system will require 100 per cent sampling of coal for all consumer categories and will, therefore, require more time for implementation. Currently, 97 per cent sampling is done for the power sector but only 26 per cent of all despatches to non-power sectors are sampled.