However, the coal allocation by the PSU under the scheme had increased to 39.33 MT in FY’21 from 27.12 MT in FY’20.
Coal distribution through forward e-auction is aimed at providing access to coal for such consumers who wish to have an assured supply over a long period, say one year, through e-auction mode so as to plan their operation.
The purpose of the scheme is to provide equal opportunities to all intending coal consumers to purchase the fuel for own consumption through single window services and at a price determined by themselves through the process of online bidding.
Forward e-auction is aimed at facilitating all the consumers of coal across the country with wide-ranging choice for booking coal online, enabling them to buy the dry fuel through a simple, transparent and consumer-friendly system of marketing of fossil fuel.
The Maharatna firm is one of the major suppliers of coal to the power sector.
Coal India, which accounts for over 80 per cent of domestic coal output, is eyeing one billion tonnes production by 2023-24.
The company will pump in over Rs 1.22 lakh crore in projects related to coal evacuation, exploration and clean coal technologies by 2023-24, to achieve 1 billion tonnes of fuel output target, Coal Minister Pralhad Joshi had earlier said.