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New Delhi : Energy Efficiency Services Limited (EESL) has achieved a further price reduction in the procurement of 50 lakh smart meters through 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 2,503 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 2,722. Through the reverse auction, the price of the single phase smart meter has come down from Rs 2,722 to Rs 2,503 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, according to a PIB release.

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, according to the release. 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. Forty lakh smart meters will be deployed in UP and the remaining 10 lakh in Haryana. Smart meters are a part of the overall Advanced Metering Infrastructure (AMI) Solutions aimed at better demand response designed to reduce energy consumption during peak hours.

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