The Adani Saga: UP discom cancels Adani's Rs 5,400-crore smart meter bid

Adani Group's bid to supply 7.5 million smart meters to the Uttar Pradesh power utility Madhyanchal Vidyut Vitran Nigam (MVVNL) worth Rs 5,400 crore has been cancelled, reported Business Standard.

Quoting sources, Business Standard reported that Adani Group had submitted the lowest bid, yet the discom cancelled it citing “unavoidable reasons.”

Apart from Adani, GMR, L&T and Intellismart Infra placed their bids. Interestingly, none of the four private companies manufacture smart meters.

As per the report, Adani had quoted a price of Rs 10,000 per smart meter, which was the lowest. This was allegedly deemed steeper, considering the cost of Rs 6,000 per meter, under the standing billing guideline of Rural Electrification Corporation.

"The consumer council's fight paid off and Madhyanchal Vidyut Vitran Nigam canceled the tender of Adani, the lowest tender for smart prepaid meter with higher rates. The Consumer Council expressed its gratitude to the Chief Minister for taking this big decision in the public interest," tweeted Avadhesh Kumar Verma, chairman of the UP Rajya Vidyut Upbhokta Parishad.