Kolkata, April 17 (IANS): State-run Coal India Limited (CIL) announced on Sunday it will conduct, from April 27, a two-day special forward e-auction for power producers, including captive producers, for 2016-17 (phase I).

"The special forward e-auction for 2016-17 for power producers-phase-I will be conducted as per the terms and conditions followed for special forward e-auction phase V and as per the schemes of special e-auction for power producers," a company notice said.

According to the notice, tentatively, 3.5 million tonnes of coal is to be offered by the company, and the reserve price for power sector consumers will remain at 10 percent over the notified price of coal for power sector. For captive power plants, it will remain 10 percent over the notified price for non-power sector. This is however applicable for G6 and below grades of coal.

Subsidiary coal companies will notify the source and grade wise reserve price of coal on their respective websites, the notice said.

The notice also said: "Biomass-based power plants already commissioned shall be eligible to participate in the auction...bidders who have already registered for participating in the earlier phase of special forward e auction and special e auction conducted earlier shall be eligible to participate..."

The duration of the special forward e-auction for 2016-17 for power producers including captive power plants-phase I will be for five months - from May to September 2016, said a corrigendum notice of the company.