Business
US government to auction 600 million tonnes of coal: Who will buy? Climate concerns also loom – The Times of India
In the coming days, US authorities will conduct the nation’s largest coal auctions in over a decade, offering 600 million tonnes from state-owned reserves adjacent to strip mines in Montana and Wyoming. The leases, located in the Powder River Basin—the country’s most productive coal region—were expedited following a January executive order by President Donald Trump.While the auctions align with Trump’s goal of increasing coal extraction from federal lands for power generation, an Associated Press analysis shows that many power stations served by these mines plan to stop using coal within a decade.The forthcoming sales will go ahead despite the government shutdown, as workers handling fossil fuel permits and leases are exempt from furlough. Then-President Biden had attempted to block future coal leases in the region last year, citing climate change concerns. According to the Department of Energy, burning coal from these leases could generate over 1 billion tonnes of carbon dioxide.Interior Secretary Doug Burgum announced that more than 20,000 square miles of federal lands would be opened for mining—an area larger than New Hampshire and Vermont combined. The administration has also reduced federal coal royalty rates, extended a Michigan coal plant’s operation, and allocated $625 million for plant modernisation, citing rising electricity demand from AI and data centres. “We’re putting American miners back to work,” Burgum said. “We’ve got a demand curve coming at us in terms of the demand for electricity that is literally going through the roof.”
Who will buy the coal?
The key question remains: who will actually purchase this coal? Data from the US Energy Information Administration and Global Energy Monitor indicate declining demand for the mines slated for expansion or new leases, as power stations reduce coal consumption or plan to cease operations entirely.Montana and Wyoming sales were requested by Navajo Transitional Energy Co. (NTEC), which acquired several Powder River Basin mines in a 2019 bankruptcy auction. These mines supply 34 power stations across 19 states, but 21 of these stations plan to stop using coal within a decade, including all five served by NTEC’s Spring Creek mine in Montana.In government filings, NTEC valued 167 million tonnes of federal coal near Spring Creek at around $126,000—less than one-tenth of a penny per tonne, far below historical prices. NTEC justified the low valuation, citing forecasts of declining coal demand:“The market for coal will decline significantly over the next two decades. There are fewer coal mines expanding their reserves, there are fewer buyers of thermal coal and there are more regulatory constraints.”The government will auction 440 million tonnes near NTEC’s Antelope Mine in central Wyoming on Wednesday. Over half of the 29 power stations served by this mine plan to cease coal use by 2035, including Colorado’s Rawhide plant, which is scheduled to switch from coal to natural gas and 30 megawatts of solar power by 2029.Peabody Energy, the largest US coal company, offers a more optimistic outlook. They estimate coal demand could increase by 250 million tonnes annually, nearly 50 per cent above current levels, citing delays in new nuclear and gas facilities. “US coal is clearly in comeback mode,” said Peabody president James Grech. “The US has more energy in its coal reserves than any nation has in any one energy source.”Energy specialists remain sceptical. Umed Paliwal, an electricity market specialist at Lawrence Berkeley National Laboratory, said:“Eventually coal will get pushed out of the market. The economics will just eat the coal generation over time.”No major coal power stations have opened in the US since 2013, and most existing facilities are over 40 years old. Experts suggest the administration’s $625 million modernisation fund may be insufficient, with a single boiler component costing up to $25 million, according to GridLab energy consultant Nikhil Kumar.
The Oil and Gas Regulatory Authority (OGRA) has approved a fresh increase in the price of liquefied petroleum gas (LPG), raising the cost for both domestic consumers and commercial users.
According to the notification issued, the LPG price has been increased by Rs7.39 per kilogram, setting the new rate at Rs209 per kg for December. As a result, the price of a domestic LPG cylinder has risen by Rs87.21, bringing the new price to Rs2,466.10.
In November, the price of LPG stood at Rs201 per kg, while the domestic cylinder was priced at Rs2,378.89.
The latest price hike is expected to put additional pressure on households already grappling with rising living costs nationwide.
New Delhi: The taxable value of all supplies under GST surged by a robust 15 per cent during September-October this year, compared to the same period in 2024 due to sharp increase in consumption triggered by the tax rate cuts on goods across sectors that kicked in from September 22, according to official sources.
The growth in the same two-month period last year was 8.6 per cent. “This surge in taxable value during ‘Bachat Utsav’ demonstrates strong consumption uplift, stimulated by reduced rates and improved compliance behaviour,” a senior official said.
He pointed out that the growth has especially been strong in sectors where rate rationalisation was implemented, such as FMCG, pharma goods, food products, automobiles, medical devices and textiles. In these sectors, the taxable value of supplies has seen significantly higher growth, confirming that lower GST rates translated directly into higher consumer spending.
“It vindicates our strategy that reducing rates on essentials and mass-use sectors would create demand-side buoyancy — a Laffer Curve–type demand uplift,” he explained.These trends confirm that GST next-gen reforms have not disrupted revenue stability, and that consumption-side buoyancy has begun to translate into higher taxable value in key sectors.
This growth is in value terms which means that since GST rates were lower, the growth in volume terms will be even higher. It is clearly visible that while the Next Gen Reforms resulted in significant Bachat — increased consumption, industry has been very proactive in passing on the GST savings to the final consumers and ensuring that there is no supply side deficiency.
As GDP private consumption data will be released much later, GST taxable value serves as the most reliable real-time proxy for consumption, and the current numbers clearly indicate sustained demand expansion, the official added.
Business
Private sector data: Over 2 lakh private companies closed in 5 years; govt flags monitoring for suspicious cases – The Times of India
NEW DELHI: The government on Monday said that over the past five years, more than two lakh private companies have been closed in India.According to data provided by Minister of State for Corporate Affairs Harsh Malhotra in a written reply to the Lok Sabha, a total of 2,04,268 private companies were shut down between 2020-21 and 2024-25 due to amalgamation, conversion, dissolution or being struck off from official records under the Companies Act, 2013.Regarding the rehabilitation of employees from these closed companies, the minister said there is currently no proposal before the government, as reported by PTI. In the same period, 1,85,350 companies were officially removed from government records, including 8,648 entities struck off till July 16 this fiscal year. Companies can be removed from records if they are inactive for long periods or voluntarily after fulfilling regulatory requirements.On queries about shell companies and their potential use in money laundering, Malhotra highlighted that the term “shell company” is not defined under the Companies Act, 2013. However, he added that whenever suspicious instances are reported, they are shared with other government agencies such as the Enforcement Directorate and the Income Tax Department for monitoring.A major push to remove inactive companies took place in 2022-23, when 82,125 companies were struck off during a strike-off drive by the corporate affairs ministry.The minister also highlighted the government’s broader policy to simplify and rationalize the tax system. “It is the stated policy of the government to gradually phase out exemptions and deductions while rationalising tax rates to create a simple, transparent, and equitable tax regime,” he said. He added that several reforms have been undertaken to promote investment and ease of doing business, including substantial reductions in corporate tax rates for existing and new domestic companies.
Wake Up—the Best Cyber Monday Mattress and Bedding Sales Are Here
Sean Diddy Combs docuseries raises expectations with new bombshell
I’ve Tried Every Digital Notebook. Here Are the Best Ones on Sale
-
Sports1 week agoWATCH: Ronaldo scores spectacular bicycle kick
-
Entertainment1 week agoWelcome to Derry’ episode 5 delivers shocking twist
-
Politics1 week agoWashington and Kyiv Stress Any Peace Deal Must Fully Respect Ukraine’s Sovereignty
-
Business1 week agoKey economic data and trends that will shape Rachel Reeves’ Budget
-
Politics1 week ago53,000 Sikhs vote in Ottawa Khalistan Referendum amid Carney-Modi trade talks scrutiny
-
Tech6 days agoWake Up—the Best Black Friday Mattress Sales Are Here
-
Fashion1 week agoCanada’s Lululemon unveils team Canada kit for Milano Cortina 2026
-
Tech1 day agoGet Your Steps In From Your Home Office With This Walking Pad—On Sale This Week