In doing so, coal supply to PSPCL plants has been fully restored.
"With the efforts of management and officers of PSPCL, the issue of coal supply has been resolved with Panem and normal coal supply has been assured by the firm from today," PSPCL chairman and KD Chaudhri told the Hindustan Times.
The company agreed to pay an interest bearing advance of 60 million Indian rupees on a daily basis and interest bearing Rs100 per metric tonne to Panem Coal Mines.
Chaudhri claimed that paying higher charges to Panem would not result in any financial burden on consumers.
Panem suspended coal supply to PSPCL's three thermal power plants – Ropar, Bathinda and Lehra Mohabbat – on April 11 over the pricing dispute.
It led to less generation of power, forcing PSPCL to buy short-term power at a higher rate, causing unscheduled power cuts.
