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<p>ITI Limited quoted a price of ₹2,503 (~$38.50)/single phase smart meter to emerge as the lowest bidder in the second round of auctions conducted by Energy Efficiency Services Limited (EESL), a joint venture company of Public Sector Units of Ministry of Power and Government of India, to procure 5,000,000 smart meters. These smart meters will be installed over a period of three years in a phased manner in Uttar Pradesh and Haryana.</p>
<p>Genus Power and KEONICS were the second and third lowest bidders. Per tender guidelines, the EESL will ask Genus Power and KEONICS to match the L1 price (₹2,503 (~$38.50)/single phase smart meter). If they agree to match the L1 price, EESL will split the procurement of the single phase smart meter between the three bidders at a ratio of 50:30:20. In such a scenario, ITI Limited will supply 2,500,000 smart meters, Genus Power 1,500,000 and KEONICS 1,000,000 smart meters.</p>
<p>In the first round of auction, Larsen &amp; Toubro (L&amp;T) quoted a price of ₹2,722 (~$41.5)/single phase smart meter. During the two rounds of the auction, the price of single phase smart meter decreased by 8 percent.</p>
<p>According to EESL, 7 companies including L&amp;T were invited for the reverse auction, where L&amp;T has been outbid by ITI Limited, Genus Power and KEONICS.</p>
<p>This means L&amp;T will not get the contract which it, <a href="https://mercomindia.com/l-t-wins-eesl-contract-smart-meters/" target="_blank" rel="noopener">earlier</a>, stood to win. When contacted an EESL official explained, when there was open price bid, L&amp;T emerged as the lowest bidder, but in the reverse auction round it lost out.</p>
<p>The same official had earlier told Mercom, “The tender has been a success and the prices quoted by the three lowest bidders is beyond expectation. The thought process is headed in the direction where we think if L&amp;T can supply at such a low price then why not others. We have asked other low bidders to match L&amp;T prices or watch how low they can go.”</p>
<p>The EESL official pointed out, when we asked others to match prices, they outdid themselves.</p>
<p>The EESL is procuring the smart meters and services of the system integrator with 100 percent investment and the utilities will make zero-investment. The repayment to EESL will be through savings resulting from enhanced billing efficiency, avoided meter reading costs. The average cost of meter reading is ₹40 per meter, which will be completely avoided.</p>
<p>Image credit: Flickr</p>
<div class="saboxplugin-wrap" itemtype="http://schema.org/Person" itemscope itemprop="author"><div class="saboxplugin-tab"><div class="saboxplugin-gravatar"></div><div class="saboxplugin-authorname"><a href="https://cms.mercomindia.com/author/saumy/" class="vcard author" rel="author"><span class="fn">Saumy Prateek</span></a></div><div class="saboxplugin-desc"><div itemprop="description"><div class="designboxt">
<p><img class="alignleft" style="border-radius: 50%;height: 50px;margin-top: -4px;border: 1px solid #00b451" src="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2023/12/saumy-edited-1.png" width="50" /></p>
<p><strong style="text-decoration: underline">Saumy Prateek</strong> Staff reporter at Mercom India<br />
<a href="https://mercomindia.com/author/saumy/" target="_blank" rel="noopener">More articles from Saumy Prateek</a></p>
</div>
<div class="authorboxn"><img class="alignleft" src="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2023/12/saumy-edited-1.png" width="79" height="102" /><a href="https://mercomindia.com/author/saumy/" rel="noopener"><strong>Saumy Prateek, </strong> </a>is a senior staff reporter with MercomIndia.com covering business and energy news since 2016. Prior to Mercom, Saumy was a copy editor at Thomson Reuters. Saumy earned his Bachelors Degree in Journalism &amp; Mass Communication from the Manipal Institute of Communication at Manipal University.<a href="https://mercomindia.com/author/saumy/">More articles from Saumy Prateek.</a></div>
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ITI Limited is the Lowest Bidder in the Second Round of EESL Smart Meter Auction

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