diff --git a/packages/packages.json b/packages/packages.json
index d36d70dd..5323cb7c 100644
--- a/packages/packages.json
+++ b/packages/packages.json
@@ -2,13 +2,13 @@
     "dev": {
         "connection/valory/websocket_client/0.1.0": "bafybeiflmystocxaqblhpzqlcop2vkhsknpzjx2jomohomaxamwskeokzm",
         "skill/valory/contract_subscription/0.1.0": "bafybeicyugrkx5glat4p4ezwf6i7oduh26eycfie6ftd4uxrknztzl3ik4",
-        "agent/valory/mech/0.1.0": "bafybeibwlyxqtitnfgmt2liuygv75pydlvih23e2ilwpr6xlffac5flyse",
+        "agent/valory/mech/0.1.0": "bafybeiazsvppldwszwte6m2htcd3glh2kk35cb7fql73stdeijcbphilgq",
         "skill/valory/mech_abci/0.1.0": "bafybeieimp7xzxcnbzsuunf2xkcy5juulhmzsmkq2v3sw3o3lgssb53cnu",
         "contract/valory/agent_mech/0.1.0": "bafybeiepxumywg6z2zapqzc3bg3iey23cmlgjzxisqox5j74o5i2texr5e",
-        "service/valory/mech/0.1.0": "bafybeicw64tjmcx6fbffwhpgdabmnxfwbuk6cycwrcu4me3hplcleu4mze",
+        "service/valory/mech/0.1.0": "bafybeidyogsdqt5vo26hkwgegwalxawgux3xjub4orae3ptsqphhedbqra",
         "protocol/valory/acn_data_share/0.1.0": "bafybeih5ydonnvrwvy2ygfqgfabkr47s4yw3uqxztmwyfprulwfsoe7ipq",
         "skill/valory/task_submission_abci/0.1.0": "bafybeib4m2bwgchloqss3wotsx4rz7qqkwydaesiqkls2zq7zbtp6jtpsi",
-        "skill/valory/task_execution/0.1.0": "bafybeieercgbjemdjiovecetxadurwil26cs2swleupmbgc4py2rg6e2kq",
+        "skill/valory/task_execution/0.1.0": "bafybeicsbtef4hbuuevraqdyicswlnc3i54fzxeqcjzh5soo5wjvh5ecni",
         "contract/valory/agent_registry/0.1.0": "bafybeiargayav6yiztdnwzejoejstcx4idssch2h4f5arlgtzj3tgsgfmu",
         "protocol/valory/websocket_client/0.1.0": "bafybeih43mnztdv3v2hetr2k3gezg7d3yj4ur7cxdvcyaqhg65e52s5sf4",
         "skill/valory/websocket_client/0.1.0": "bafybeidwntmkk4b2ixq5454ycbkknclqx7a6vpn7aqpm2nw3duszqrxvta",
diff --git a/packages/valory/agents/mech/aea-config.yaml b/packages/valory/agents/mech/aea-config.yaml
index 9c72b415..525b5310 100644
--- a/packages/valory/agents/mech/aea-config.yaml
+++ b/packages/valory/agents/mech/aea-config.yaml
@@ -42,7 +42,7 @@ skills:
 - valory/registration_abci:0.1.0:bafybeic2ynseiak7jpta7jfwuqwyp453b4p7lolr4wihxmpn633uekv5am
 - valory/reset_pause_abci:0.1.0:bafybeidzajbe3erygeh2xbd6lrjv7nsptznjuzrt24ykgvhgotdeyhfnba
 - valory/subscription_abci:0.1.0:bafybeigaxq7m2dqv2huhg5jvb4jx3rysqwvvjj2xhojow3t3zzuwq2k4ie
-- valory/task_execution:0.1.0:bafybeieercgbjemdjiovecetxadurwil26cs2swleupmbgc4py2rg6e2kq
+- valory/task_execution:0.1.0:bafybeicsbtef4hbuuevraqdyicswlnc3i54fzxeqcjzh5soo5wjvh5ecni
 - valory/task_submission_abci:0.1.0:bafybeib4m2bwgchloqss3wotsx4rz7qqkwydaesiqkls2zq7zbtp6jtpsi
 - valory/termination_abci:0.1.0:bafybeie4zvjfxvdu7qrulmur3chpjz3kpj5m4bjsxvpk4gvj5zbyyayfaa
 - valory/transaction_settlement_abci:0.1.0:bafybeiaefgqbs7zsn5xe5kdwrujj7ivygkn3ujpw6crnvi3knvxw75qmja
@@ -203,6 +203,7 @@ models:
       agent_index: ${int:0}
       num_agents: ${int:4}
       from_block_range: ${int:50000}
+      mech_to_config: ${list:[["0x77af31De935740567Cf4fF1986D04B2c964A786a",["use_dynamic_pricing","false"]]]}
       timeout_limit: ${int:3}
       max_block_window: ${int:500}
 ---
diff --git a/packages/valory/services/mech/service.yaml b/packages/valory/services/mech/service.yaml
index f764171a..c43371e6 100644
--- a/packages/valory/services/mech/service.yaml
+++ b/packages/valory/services/mech/service.yaml
@@ -7,7 +7,7 @@ license: Apache-2.0
 fingerprint:
   README.md: bafybeif7ia4jdlazy6745ke2k2x5yoqlwsgwr6sbztbgqtwvs3ndm2p7ba
 fingerprint_ignore_patterns: []
-agent: valory/mech:0.1.0:bafybeibwlyxqtitnfgmt2liuygv75pydlvih23e2ilwpr6xlffac5flyse
+agent: valory/mech:0.1.0:bafybeiazsvppldwszwte6m2htcd3glh2kk35cb7fql73stdeijcbphilgq
 number_of_agents: 4
 deployment:
   agent:
@@ -177,6 +177,7 @@ type: skill
         agent_index: ${AGENT_INDEX_0:int:0}
         num_agents: ${NUM_AGENTS:int:4}
         timeout_limit: ${TIMEOUT_LIMIT:int:3}
+        mech_to_config: ${list:[["0xFf82123dFB52ab75C417195c5fDB87630145ae81",["use_dynamic_pricing","false"]],["0x77af31De935740567Cf4fF1986D04B2c964A786a",["use_dynamic_pricing","false"]]]}
         max_block_window: ${MAX_BLOCK_WINDOW:int:500}
 1:
   models:
@@ -189,6 +190,7 @@ type: skill
         polling_interval: ${POLLING_INTERVAL:float:30.0}
         agent_index: ${AGENT_INDEX_1:int:1}
         num_agents: ${NUM_AGENTS:int:4}
+        mech_to_config: ${list:[["0xFf82123dFB52ab75C417195c5fDB87630145ae81",["use_dynamic_pricing","false"]],["0x77af31De935740567Cf4fF1986D04B2c964A786a",["use_dynamic_pricing","false"]]]}
         timeout_limit: ${TIMEOUT_LIMIT:int:3}
         max_block_window: ${MAX_BLOCK_WINDOW:int:500}
 2:
@@ -202,6 +204,7 @@ type: skill
         polling_interval: ${POLLING_INTERVAL:float:30.0}
         agent_index: ${AGENT_INDEX_2:int:2}
         num_agents: ${NUM_AGENTS:int:4}
+        mech_to_config: ${list:[["0xFf82123dFB52ab75C417195c5fDB87630145ae81",["use_dynamic_pricing","false"]],["0x77af31De935740567Cf4fF1986D04B2c964A786a",["use_dynamic_pricing","false"]]]}
         timeout_limit: ${TIMEOUT_LIMIT:int:3}
         max_block_window: ${MAX_BLOCK_WINDOW:int:500}
 3:
@@ -216,6 +219,7 @@ type: skill
         agent_index: ${AGENT_INDEX_3:int:3}
         num_agents: ${NUM_AGENTS:int:4}
         timeout_limit: ${TIMEOUT_LIMIT:int:3}
+        mech_to_config: ${list:[["0xFf82123dFB52ab75C417195c5fDB87630145ae81",["use_dynamic_pricing","false"]],["0x77af31De935740567Cf4fF1986D04B2c964A786a",["use_dynamic_pricing","false"]]]}
         max_block_window: ${MAX_BLOCK_WINDOW:int:500}
 ---
 public_id: valory/ledger:0.19.0
diff --git a/packages/valory/skills/task_execution/behaviours.py b/packages/valory/skills/task_execution/behaviours.py
index 38beb317..b0c89660 100644
--- a/packages/valory/skills/task_execution/behaviours.py
+++ b/packages/valory/skills/task_execution/behaviours.py
@@ -31,6 +31,7 @@
 from aea.protocols.base import Message
 from aea.protocols.dialogue.base import Dialogue
 from aea.skills.behaviours import SimpleBehaviour
+from eth_abi import encode
 
 from packages.valory.connections.ipfs.connection import IpfsDialogues
 from packages.valory.connections.ipfs.connection import PUBLIC_ID as IPFS_CONNECTION_ID
@@ -49,6 +50,9 @@
 from packages.valory.protocols.ledger_api import LedgerApiMessage
 from packages.valory.skills.task_execution.models import Params
 from packages.valory.skills.task_execution.utils.benchmarks import TokenCounterCallback
+from packages.valory.skills.task_execution.utils.cost_calculation import (
+    get_cost_for_done_task,
+)
 from packages.valory.skills.task_execution.utils.ipfs import (
     ComponentPackageLoader,
     get_ipfs_file_hash,
@@ -454,7 +458,17 @@ def _handle_store_response(self, message: IpfsMessage, dialogue: Dialogue) -> No
             data=ipfs_hash,
         )
         done_task = cast(Dict[str, Any], self._done_task)
-        done_task["task_result"] = to_multihash(ipfs_hash)
+        task_result = to_multihash(ipfs_hash)
+        cost = get_cost_for_done_task(done_task)
+        self.context.logger.info(f"Cost for task {req_id}: {cost}")
+        mech_config = self.params.mech_to_config[done_task["mech_address"]]
+        if mech_config.use_dynamic_pricing:
+            self.context.logger.info(f"Dynamic pricing is enabled for task {req_id}.")
+            task_result = encode(
+                ["uint256", "bytes"], [cost, bytes.fromhex(task_result)]
+            )
+
+        done_task["task_result"] = task_result
         # add to done tasks, in thread safe way
         with self.done_tasks_lock:
             self.done_tasks.append(done_task)
diff --git a/packages/valory/skills/task_execution/models.py b/packages/valory/skills/task_execution/models.py
index 3e81775e..b3aed992 100644
--- a/packages/valory/skills/task_execution/models.py
+++ b/packages/valory/skills/task_execution/models.py
@@ -18,6 +18,7 @@
 # ------------------------------------------------------------------------------
 
 """This module contains the shared state for the abci skill of Mech."""
+import dataclasses
 from collections import defaultdict
 from typing import Any, Callable, Dict, List, Optional, cast
 
@@ -25,6 +26,20 @@
 from aea.skills.base import Model
 
 
+@dataclasses.dataclass
+class MechConfig:
+    """Mech config dataclass."""
+
+    use_dynamic_pricing: bool
+
+    @staticmethod
+    def from_dict(raw_dict: Dict[str, Any]) -> "MechConfig":
+        """From dict."""
+        return MechConfig(
+            use_dynamic_pricing=raw_dict["use_dynamic_pricing"].lower() == "true"
+        )
+
+
 class Params(Model):
     """A model to represent params for multiple abci apps."""
 
@@ -66,6 +81,7 @@ def __init__(self, *args: Any, **kwargs: Any) -> None:
         enforce(self.max_block_window is not None, "max_block_window must be set!")
         # maps the request id to the number of times it has timed out
         self.request_id_to_num_timeouts: Dict[int, int] = defaultdict(lambda: 0)
+        self.mech_to_config: Dict[str, MechConfig] = self._parse_mech_configs(kwargs)
         super().__init__(*args, **kwargs)
 
     def _nested_list_todict_workaround(
@@ -78,3 +94,20 @@ def _nested_list_todict_workaround(
         if len(values) == 0:
             raise ValueError(f"No {key} specified!")
         return {value[0]: value[1] for value in values}
+
+    def _parse_mech_configs(self, kwargs: Dict) -> Dict[str, MechConfig]:
+        """Parse the mech configs."""
+        mech_configs_json = self._nested_list_todict_workaround(
+            kwargs, "mech_to_config"
+        )
+        mech_configs = {
+            mech: MechConfig.from_dict(config)
+            for mech, config in mech_configs_json.items()
+        }
+        for self.agent_mech_contract_addresses in mech_configs.keys():
+            enforce(
+                self.agent_mech_contract_addresses
+                in self.agent_mech_contract_addresses,
+                f"agent_mech_contract_addresses {self.agent_mech_contract_addresses} must be in mech_configs!",
+            )
+        return mech_configs
diff --git a/packages/valory/skills/task_execution/skill.yaml b/packages/valory/skills/task_execution/skill.yaml
index 48e84c31..d8fec078 100644
--- a/packages/valory/skills/task_execution/skill.yaml
+++ b/packages/valory/skills/task_execution/skill.yaml
@@ -7,13 +7,14 @@ license: Apache-2.0
 aea_version: '>=1.0.0, <2.0.0'
 fingerprint:
   __init__.py: bafybeidqhvvlnthkbnmrdkdeyjyx2f2ab6z4xdgmagh7welqnh2v6wczx4
-  behaviours.py: bafybeihprwot27csugwpoimsqcwprxu5bstqpvanot3nkmfgvhbr66ww4y
+  behaviours.py: bafybeihxko4mv7dpeypi6g2v4zgdmwwvurnfd3yzdgyxvxx6oydr5izjd4
   dialogues.py: bafybeid4zxalqdlo5mw4yfbuf34hx4jp5ay5z6chm4zviwu4cj7fudtwca
   handlers.py: bafybeidbt5ezj74cgfogk3w4uw4si2grlnk5g54veyumw7g5yh6gdscywu
-  models.py: bafybeihgclxctyltuehj2f4fzj26edptqugrrm4phd6ovuulezrqot6qo4
+  models.py: bafybeiaz5lwhqzfv2azbdqjozwm5sums5eoingrhd2wz6syr4qiddftbhm
   utils/__init__.py: bafybeiccdijaigu6e5p2iruwo5mkk224o7ywedc7nr6xeu5fpmhjqgk24e
   utils/benchmarks.py: bafybeibdwt4svz24ahok4x4h2rpeotlmlmvifccd27oizsz5bjwj6dqree
-  utils/ipfs.py: bafybeidinbdqkidix44ibz5hug7inkcbijooag53gr5mtbaa72tk335uqq
+  utils/cost_calculation.py: bafybeib7wpojbriolfvrdb57ts6wl3cz5p4is2myofpvde7isr5iqztjem
+  utils/ipfs.py: bafybeibffem6y23fxdilc373kge4z6ht7phshbnlqbl55irb2xr7brdrlm
   utils/task.py: bafybeieuziu7owtk543z3umgmayhjh67klftk7vrhz24l6rlaii5lvkqh4
 fingerprint_ignore_patterns: []
 connections:
@@ -84,6 +85,10 @@ models:
           - stabilityai-stable-diffusion-768-v2-1
       from_block_range: 50000
       num_agents: 4
+      mech_to_config:
+      - - '0x9A676e781A523b5d0C0e43731313A708CB607508'
+        - - - use_dynamic_pricing
+            - 'false'
       polling_interval: 30.0
       task_deadline: 240.0
       max_block_window: 500
@@ -111,4 +116,6 @@ dependencies:
     version: ==0.5.1
   anthropic:
     version: ==0.3.11
+  eth-abi:
+    version: ==4.0.0
 is_abstract: false
diff --git a/packages/valory/skills/task_execution/utils/cost_calculation.py b/packages/valory/skills/task_execution/utils/cost_calculation.py
new file mode 100644
index 00000000..a521fd26
--- /dev/null
+++ b/packages/valory/skills/task_execution/utils/cost_calculation.py
@@ -0,0 +1,49 @@
+# -*- coding: utf-8 -*-
+# ------------------------------------------------------------------------------
+#
+#   Copyright 2024 Valory AG
+#
+#   Licensed under the Apache License, Version 2.0 (the "License");
+#   you may not use this file except in compliance with the License.
+#   You may obtain a copy of the License at
+#
+#       http://www.apache.org/licenses/LICENSE-2.0
+#
+#   Unless required by applicable law or agreed to in writing, software
+#   distributed under the License is distributed on an "AS IS" BASIS,
+#   WITHOUT WARRANTIES OR CONDITIONS OF ANY KIND, either express or implied.
+#   See the License for the specific language governing permissions and
+#   limitations under the License.
+#
+# ------------------------------------------------------------------------------
+"""Calculate the cost for tools."""
+import logging
+from typing import Any, Dict, cast
+
+from packages.valory.skills.task_execution import PUBLIC_ID
+
+
+_logger = logging.getLogger(
+    f"aea.packages.{PUBLIC_ID.author}.contracts.{PUBLIC_ID.name}.utils.cost_calculation"
+)
+
+DEFAULT_PRICE = 1 * 10**16
+
+
+def get_cost_for_done_task(
+    done_task: Dict[str, Any], fallback_price: int = DEFAULT_PRICE
+) -> int:
+    """Get the cost for a done task."""
+    cost_dict = done_task.get("cost_dict", {})
+    if cost_dict == {}:
+        _logger.warning(f"Cost dict not found in done task {done_task['request_id']}.")
+        return fallback_price
+    total_cost = cost_dict.get("total_cost", None)
+    if total_cost is None:
+        _logger.warning(
+            f"Total cost not found in cost dict {cost_dict} for {done_task['request_id']}."
+        )
+        return fallback_price
+
+    total_cost = cast(float, total_cost)
+    return int(total_cost * 10**18)
diff --git a/packages/valory/skills/task_execution/utils/ipfs.py b/packages/valory/skills/task_execution/utils/ipfs.py
index 364a3a28..c10c3b54 100644
--- a/packages/valory/skills/task_execution/utils/ipfs.py
+++ b/packages/valory/skills/task_execution/utils/ipfs.py
@@ -40,7 +40,7 @@ def get_ipfs_file_hash(data: bytes) -> str:
         return file_hash
 
 
-def to_multihash(hash_string: str) -> bytes:
+def to_multihash(hash_string: str) -> str:
     """To multihash string."""
     # Decode the Base32 CID to bytes
     cid_bytes = multibase.decode(hash_string)
diff --git a/tox.ini b/tox.ini
index 25718a95..c77c82db 100644
--- a/tox.ini
+++ b/tox.ini
@@ -370,6 +370,9 @@ ignore_missing_imports = True
 [mypy-certifi.*]
 ignore_missing_imports = True
 
+[mypy-eth_abi.*]
+ignore_missing_imports = True
+
 [mypy-pandas.*]
 ignore_missing_imports = True