KOLKATA: Coal IndiaBSE 0.99 % has decided to shift to a pricing system under which customers would be billed on the basis of exact energy content per kilogram of coal in every consignment that is sold to them. The new system would be effective from April 1, 2018.
At present, prices of coal is fixed for a range of energy content values in coal which is typically a band based pricing system. Customers pay a certain price per tonne if the heat content lies within these predefined ranges. There are 17 grades at present.
In technical terms, coal price will be based on Rupees per kilo calorie -- that is Rupees per unit of energy.
"It is a global system of coal pricing and we would put in place systems for measuring energy content for each consignment. It will lead to financial benefit for customers who pay for what they get," said Coal India chairman, Gopal Singh.