ITI Limited emerges lowest bidder in EESL’s smart meter reverse auction

ITI Limited has quoted the lowest bid of Rs 2,503 per unit in the reverse auction conducted by Energy Efficiency Services Limited (EESL) for 5 million smart meters. The second and third lowest bidders were Genus Power Infrastructure Limited and Karnataka State Electronics Development Corporation Limited (KEONICS). The price has come down from Rs 2,722 per unit quoted by L&T previously and has reduced the total cost of procurement by Rs 1.32 billion. EESL will invite Genus Power and KEONICS to match the price quoted by ITI.