Coal India will implement a new pricing mechanism by the month-end but will ensure

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this will not result in higher prices for power producers, coal minister Sriprakash Jaiswal said.

Earlier this month, the state-run miner decided to benchmark the pricing for non-coking coal to gross calorific value (GCV) from the current useful heat value (UHV) based gradation, a move that is expected to push up costs for cement and steel makers.

"We are going ahead with GCV pricing. But all complaints of power producers will be addressed by month-end," Jaiswal told reporters, assuring there would be minimal impact on power companies.