To offset the impact of high import costs, the Planning Commission had said that Coal India should adopt a pooling formula on prices by combining rates of imported and domestic coal
New Delhi: Planning Commission deputy chairman Montek Singh Ahluwalia said the price-pooling mechanism should be adopted for fuel supply to power firms but solution to some of the issues involved could take some time, reports PTI.
“We must move to system of price pooling for fuel,” Mr Ahluwalia said addressing the India Energy Forum.
He said efforts for price pooling are underway and “I am told it would be done by the end of this year.
“...as far as gas pooling is concerned easy solution is price pooling. But the problem with gas price pooling is that gas also goes to fertiliser... I don’t think that in the next three to four years these issues can be solved.”
To offset the impact of high import costs, the Planning Commission had said that Coal India should adopt a pooling formula on prices by combining rates of imported and domestic coal.
In September, CIL had asked the state governments to convey their views on price pooling of coal.
West Bengal government responded to the coal PSU and raised objections to price-pooling of coal.
Racing against the month-end deadline to ink the fuel supply pacts, CIL has shot off reminder letters to state governments seeking their views on price-pooling mechanism.
The CIL board had earlier approved the modified fuel supply agreement (FSA) without price-pooling with 65% domestic coal and 15% imported coal at cost plus basis.
So far, only 30 power companies, including Lanco and Adani have signed FSAs with CIL.
The coal major had earlier said that if price pooling was implemented, all the power consumers would have to bear the impact.
CIL had earlier said: “Price pooling is a mechanism to implement FSA...If price pooling is approved then 15% supply of imported coal will be not in the cost plus method, but in pooling mechanism.”
Last month, the Prime Minister’s Office (PMO) had asked power companies to sign the FSAs with CIL by November-end even if they don’t have binding pacts for sale of electricity.
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Obama has been re-elected as the President of the United States of America. Romney could not get back in the game after several mis-steps. An analysis by Harsh Desai
CNN has just called the election and announced that Barack Obama will be elected as the next President of the United States of America. He crossed the threshold of 270 electoral votes and it looks likely that he would cross 300 before the night is over. By the time the election was called, people had stopped saying that no president has won re-election with such a high unemployment rate since Franklin Delano Roosevelt (FDR). That was then, and this is now. However, President Obama was trailing Governor Romney in the popular vote but carried virtually every swing state that was in play. By riding on his coattails, the Democrats look likely to retain control of the Senate.
The humdinger predicted never materialised. Ohio—the president’s firewall—held firm till the very end. As Ohio numbers refused to break in his favour, Governor Romney, in a last ditch gamble, made some misleading ads that backfired.
The fact that his Obama’s opponent was Mitt Romney actually helped. Romney could never connect with the American electorate. Romney was too aloof and wealth, which an American could never relate to. The nature of the modern Republican Party forced him out on a limb and he could never find his way back. The choice of Paul Ryan, as vice-presidential candidate, distanced him away from the middle. Further, he got entangled by farcical comments made by his party-men on abortion. Therefore, to get elected it looked as if he would have had to distance himself from his party.
Moreover, the demographics of the United States is changing and you cannot win elections by just being a “White Man’s Party”. The sooner the Republican Party learns the lesson, the better.
The Republicans lost a historic opportunity and next time it will be Hillary Clinton. Bruce Springsteen had told us just yesterday, “I think the president has some rock star ambitions”. So America gets its first “rock star” President.
Harsh Desai has been writing the American Dairy about US Presidential elections. To access all other articles, please click here.
(Harsh Desai has done his BA in Political Science from St Xavier's College & Elphinstone College, Bombay and has done his Master's in Law from Columbia University in the city of New York. He is a practicing advocate at the Bombay High Court.)