The National Coal Index (NCI) has shown a decline of 3.48 percent in June 2024 compared to June 2023 indicating that the coal market has sufficient capacity to meet the rising demand, a PIB release stated.
The NCI is a price index that combines coal prices from various sources, including notified prices, auction prices, and import prices by considering prices of coking and non-coking coal transacted in the regulated (power and fertilizer) and non-regulated sectors. The index was established with the base year of FY 2017-18, and it provides reliable data on market dynamics.
The sharp decline in coal auction premium confirms the sufficient availability of coal in the market. It has increased by 14.58 percent in the country’s coal production during the current period compared to the corresponding period of last year, which ensures a stable supply to various sectors that rely on coal.
This growth is a major contribution to the country’s overall energy security.