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Management and Allocation of Voluntary Redress Payments

Ofgem

This public procurement record has 1 release in its history.

Award

19 Apr 2022 at 17:45

Award Notice
Summary of the contracting process

Ofgem, based in London, has completed a procurement process for the "Management and Allocation of Voluntary Redress Payments." This tender, classified under financial management consultancy services, aimed to secure a service provider for efficient management of voluntary redress funds. The open procurement method facilitated this process, which originally closed on 26th October 2021. The contract period spans from 4th April 2022 to 3rd April 2026, with a total contract value of £2,000,000.

This opportunity could significantly benefit small and medium-sized enterprises (SMEs) looking to expand their services in financial management. The successful supplier, Energy Saving Trust Enterprises Ltd, has established their capability in this field. Businesses with expertise in financial consultancy, particularly those that can manage large sums efficiently and allocate grants to various recipients, would be well-positioned to compete in similar future tenders.

How relevant is this notice?

Notice Information

Notice Title

Management and Allocation of Voluntary Redress Payments

Notice Description

This award is for an expert Service Provider to provide efficient financial management of voluntary redress monies, including receiving the funds, ring-fencing them, and awarding grants to suitable recipients.

Notice Details

Publication & Lifecycle

Open Contracting ID
ocds-b5fd17-122898dc-0a4a-4545-abf8-ab4e88fd0a3f
Publication Source
Contracts Finder
Latest Notice
https://www.contractsfinder.service.gov.uk/Notice/5ebb6741-7e77-4478-9b45-693a75b7531d
Current Stage
Award
All Stages
Award

Procurement Classification

Notice Type
Award Notice
Procurement Type
Standard
Procurement Category
Services
Procurement Method
Open
Procurement Method Details
Open procedure
Tender Suitability
SME
Awardee Scale
Large

Common Procurement Vocabulary (CPV)

CPV Divisions

79 - Business services: law, marketing, consulting, recruitment, printing and security

CPV Codes

79412000 - Financial management consultancy services

Notice Value(s)

Tender Value
£2,000,000 £1M-£10M
Lots Value
Not specified
Awards Value
£2,000,000 £1M-£10M
Contracts Value
Not specified

Notice Dates

Publication Date
19 Apr 20224 years ago
Submission Deadline
26 Oct 2021Expired
Future Notice Date
Not specified
Award Date
4 Apr 20224 years ago
Contract Period
4 Apr 2022 - 3 Apr 2026 4-5 years
Recurrence
Not specified

Notice Status

Tender Status
Complete
Lots Status
Not Specified
Awards Status
Active
Contracts Status
Not Specified

Buyer & Supplier

Contracting Authority (Buyer)

Main Buyer
Ofgem
Contact Name
Available with D3 Tenders Premium →
Contact Email
Available with D3 Tenders Premium →
Contact Phone
Available with D3 Tenders Premium →

Buyer Location

Locality
LONDON
Postcode
E14 4PU
Postcode Area
East London
Country
England
Major Region (ITL 1)
TLI London
Basic Region (ITL 2)
TLI4 Inner London - East
Small Region (ITL 3)
TLI42 Tower Hamlets
Delivery Location
Not specified
Local Authority
Tower Hamlets
Electoral Ward
Canary Wharf
Westminster Constituency
Poplar and Limehouse

Supplier Information

Number of Suppliers
1
Supplier Name

Energy Saving Trust Enterprises Ltd

Further Information

Notice Documents

Open Contracting Data Standard (OCDS)

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The Open Contracting Data Standard (OCDS) is a framework designed to increase transparency and access to public procurement data in the public sector. It is widely used by governments and organisations worldwide to report on procurement processes and contracts.

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