Cost Saving in Smart Energy Monitoring System-AI by ELIXIR Strategic Management (ESM) focuses on converting detailed energy and power quality insights into direct, measurable reduction in electricity bills for industrial plants. Using real-time data from IoT-connected Multi-Function Meters (MFMs) across RMU, HT Panels, Transformers, Feeders, MCCs, and critical machines, the system identifies where money is being lost through poor power factor, high maximum demand, ToD (Time-of-Day) misalignment, harmonics, idle running, and under-utilized equipment. Smart Energy Monitoring System-AI separates necessary production energy from avoidable cost components such as penalties, surcharges, and wastage, and then links each issue to a specific corrective action. By combining edge calculations, tariff-aware analytics, and intuitive cloud dashboards, the Cost Saving layer helps factories simulate “what-if” scenarios, validate the impact of interventions, and build a continuous cost-optimization program rather than one-time corrections.