State-owned Coal India Ltd on Saturday said that it is well geared to meet any surge in demand for coal from the power sector. Coal rose to the occasion when India's power demand peaked at a new high of 187.3 Gigawatt (GW) on Friday, helping meet supply for the record single day surge in electricity consumption by supporting 78.6 per cent of the total power generation.
The company is also pushing ahead for increased production, committed to shoring up the supplies to coal-fuelled power plants. In this backdrop, close to 67 per cent of the total coal-fired power generation in the country is fuelled through CIL's supplies. Of the 199 GW of coal-based power programmed for generation per day during the ongoing fiscal, 133 GW is scheduled from CIL linked coal.
Average coal-based power generation of power per day which was 2.795 BU till Friday spurted up to 3.072 BU, a jump of nearly 10 percent on the morning of the record-making day. Coal-based power generation remains consistently high among all other categories.
Coal India is focusing on ramping up its supplies to pithead based power plants to higher levels. This would influence in cost per unit of power generated coming down. Coal transportation cost to pithead power plants is comparably lower than long distanced based ones, making the landed cost of coal lower. This in turn makes the generation cost economical.
Shares of Coal India Ltd was last closed in NSE at Rs.133.55 as compared to the previous close of Rs. 137.55.