Power Producers Rally On Coal Supply Reports

<?xml version="1.0" encoding="UTF-8"?><root available-locales="en_US," default-locale="en_US"><static-content language-id="en_US"><![CDATA[<p>Shares in private power producers rose more than 2 per cent in a subdued market on Wednesday on media reports the government has issued a directive to state-backed Coal India to sign deals committing to meet 80 per cent of the coal requirement of the utilities.<br><br>Average domestic coal prices are 1,600-1,700 rupees per tonne and are anywhere between 40-70 per cent below international spot prices as they are capped by the government which is keen to provide cheap electricity.<br><br>Last checked, shares in Adani Power, Tata Power and JSW Energy were up between 2.3 and 3.2 per cent, while the main Mumbai index was down 0.6 per cent.<br><br>(Reuters)</p>