Energy Efficiency Services Limited (EESL) has achieved a further price reduction in the procurement of 50 lakh smart meters, basis a reverse auction of the tender conducted last week. ITI Limited has emerged as the lowest bidder (L1 bidder) in this reverse auction, followed by Genus Power and KEONICS. ITI Limited quoted the lowest price of Rs. 2503, per single phase smart meter.
L&T had emerged as the lowest bidder in the first round of bids conducted last week, where the company had quoted Rs. 2722. Through the reverse auction, the price of the single phase smart meter has come down from Rs. 2722 to Rs. 2503 which is a reduction of 8% from the previous tender quote. The lower price discovered through reverse auction will further benefit the end consumers. Seven companies including L&T were invited for the reverse auction, as per tender terms and conditions where L&T has been outbid by ITI Limited, Genus Power and KEONICS.
As per government guidelines, EESL will invite Genus Power and KEONICS, who have emerged as the L2 and L3 bidders respectively, to match the L1 price. Should the said parties match the L1 price, EESL will split the procurement of the single phase smart meter between three parties in a ratio of 50:30:20.
The meters will be installed over a period of 3 years in a phased manner in Uttar Pradesh UP) and Haryana.
The procurement conducted by EESL, a company under the administrative control of Ministry of Power, Government of India (GoI), is the world’s largest single Smart Meter procurement. 40 lakh smart meters will be deployed in UP and the remaining 10 lakh in Haryana.
