Indonesia Power rejects PTBA plan to review 2004 coal price
Tuesday, December 16 2003 - 06:05 AM WIB
Indonesia Power, a unit of state electricity firm PLN said on Tuesday it would reject proposal by state coal-mining firm PT. Tambang Batubara Bukit Asam (PTBA) to review coal price for next year?s delivery.
?Re-negotiation to increase coal price for is out of question. It?s already in the contract,? said Indonesia Power president Firdaus Akmal.
Earlier, a PTBA official said PTBA planned to renegotiate supply contract price to Indonesia Power due to significant increase in thermal coal price in 2003. The strong coal price is expected to continue in 2004.
Indonesia Power, which operates Suralaya 3,400 MW power plant in Banten province, depends 60 percent of its 11 million tons per annum coal requirement on PTBA?s supply. Both companies had signed long-term supply contract. (godang)