EESL Tender: ITI Emerges As Lowest Bidder, Smart Meteres Prices Fall 8%

In world’s largest single Smart Meter procurement, the prices of smart meters fell 8 per cent in the 50 lakh smart meters tender conducted by Energy Efficiency Services Ltd (EESL).

“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,” said the official statement.

ITI Limited emerged as the lowest bidder (L1 bidder) in this reverse auction quoting the lowest price of Rs. 2503, per single-phase smart meter, followed by Genus Power and KEONICS. L&T had emerged as the lowest bidder in the first round of bids conducted last week, where the company had quoted Rs. 2722.

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 now invite Genus Power and KEONICS, who has 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. 40 lakh smart meters will be deployed in UP and the remaining 10 lakh in Haryana.

Naina Sood

BW Reporters Naina Sood is a Economics graduate and has done her post graduation in International economics and Trade. She has deep interests in Indian economy and reforms