§ Mr. Patrick McNair-Wilsonasked the Secretary of State for Energy if he is satisfied with the current level of coal stocks; and if he will give details of the total amount of aid currently being provided by the Government for coal stocking together with the estimated cost per ton of stocking coal.
§ Mr. John MooreThe level of coal stocks held by the NCB at over 20mt, is too high, and the board continues to seek ways in which coal stocks can be reduced in an orderly and efficient manner.
No grant is paid to the NCB specifically to help the board with the costs of coal stocking, though the cost of increased stocks, and lower revenues, contribute to the board's overall financial losses, and therefore to its need for deficit grant.
I am informed by the NCB that the present cost of revenue account of putting coal to stock rather than selling it is some £6 to £7 per tonne, including interest in the first year. The subsequent cost of maintaining coal in stock would depend on the length of time for which stock is held, and the interest charge for financing the stocking.