News Brief | February 2016
mjunction services to aide WBSEDCL in online purchase of power
mjunction services limited was engaged by West Bengal State Electricity Distribution Company Limited (WBSEDCL), a Government of West Bengal Enterprise to provide an online platform for WBSEDCL to purchase 500 MW of power per month, beginning January 2016.
During the e-reverse auction stage conducted on December 18, 2015, 548 bids were received from the seven selected bidders a result of intense competition created during the event by the auction methodology designed by mjunction, leading to 12.56 per cent savings over the L1 of the sealed bid stage, for WBSEDCL.
The e-auction software platform enables real-time, simultaneous, anonymous and continuous negotiation between qualified supplie` - where suppliers compete among themselves to offer the best possible price for the highest possible quantity under the existing conditions in order to bag the order. There is no role played by the agent of the buyer - or by any other person - during this actual negotiation process, thus guaranteeing absolute transparency.