A study project undertaken for developing a web-based electricity cost model (WECM) is presented in this paper. The project targets to complete by five years that includes development of a prototype application, followed by a pilot phase with various cost analysis of real-life data and finally a nation-wide implementation of the model in the power sector of Bangladesh. The overall objectives of this study project are: (i) design and develop a well-structured, scalable database and a web application (ii) capacity building in Web and mobile app development and (iii) integrate machine learning based analytics using real-life data. This paper discusses the detailed methodology used for the web application development and capacity building. In addition, the first prototype application developed, and future scope are also presented. Finally, the expected outcome of this ongoing study and benefit of WECM are discussed. The proposed model for migrating the operation of one of the vital sectors i.e. the energy sector in Bangladesh to cloud is a bold step towards “Digital Bangladesh”. Upon successful completion of this study project, it is expected that about 90% of the energy sector’s data can be automatically captured and reported for management and operation using WECM.