JAKARTA, Feb 28 (Reuters) -
* Sofyan Basir, the chief executive of Indonesia’s state-owned power utility Perusahaan Listrik Negara (PLN), said on Wedenesday he hoped President Joko Widodo would sign a new regulation on domestic coal pricing in early March.
* PLN hopes the rules will fix coal prices at between $60 and $70 per tonne, Basir said without clarifying further.
* The regulations are needed to shield PLN from coal price fluctuations, he said, adding the change would help PLN “return to big profits” and avoid increasing tarrifs.
* This year PLN plans to spend around 100 trillion rupiah ($7.28 billion) on transmission, distribution and power stations in remote areas, he said.
* The government has been working on plans to regulate domestic coal prices since late 2017, and the discussions have impacted some miners’ share prices.
$1 = 13,740 rupiah Reporting by Wilda Asmarini Writing by Fergus Jensen Editing by Mark Potter