Award

DR5025 - Energy Supply Brokerage Service

LONDON BOROUGH OF TOWER HAMLETS

This public procurement record has 1 release in its history.

Award

06 Apr 2017 at 09:14

Award Notice
Summary of the contracting process

The London Borough of Tower Hamlets has awarded a contract for the "DR5025 - Energy Supply Brokerage Service," aimed at optimising its energy procurement strategies for various sites within the borough. This procurement falls under the services category and is part of an open procedure that began with a tender process, which concluded on 22 July 2016. The contract, with a total value of £150,000, commenced on 1 September 2016 and is set to run for a year, concluding on 1 September 2017. The energy brokerage service is crucial for managing the Council's energy risks and procurement efficiently.

This tender presents significant opportunities for businesses specialising in energy management services, commodity brokerage, and related sectors. Companies that can demonstrate expertise in energy markets, as well as the ability to provide strategic advice on risk management and procurement optimisation, would be particularly well-suited to bid. The successful supplier will engage in activities like forward purchasing and buying gas contracts, which can enhance their portfolio and reputation in the marketplace, fostering growth in their business operations.

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Notice Information

Notice Title

DR5025 - Energy Supply Brokerage Service

Notice Description

Contract Award for the provision of suitably qualified brokerage providers to provide an efficient and effective energy brokerage service, providing and managing the Councils energy procurement and risk strategies and a platform on which to market for the natural gas and grid electricity for the LBTH estate. The estate, consisting of various sites across the borough, comprises sites within the councils direct control (operational buildings, idea stores street lighting etc.). The Council seeks to appoint a provider the required expertise and experience to of the Energy markets to afford the Council additional flexibility and take advantage of the energy markets, purchasing when there are dips in energy prices, forward purchasing, participating in Triad periods, buyback gas contracts and hedge electricity contracts. The successful provider will be required to recommend and produce the Councils procurement risk strategies including support capability using both fundamental and technical analysis and reporting systems to deliver financial control and meet the Council's objectives for budgetary control for the initial 12 months of the framework (01/09/16 - 31/08/17) and quarterly there-after.

Notice Details

Publication & Lifecycle

Open Contracting ID
ocds-b5fd17-17f32f5f-da70-4408-85e6-7fc11bbd6ddb
Publication Source
Contracts Finder
Latest Notice
https://www.contractsfinder.service.gov.uk/Notice/df097b9b-19a0-455e-954f-ff22db84babe
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
Not specified
Awardee Scale
Large

Common Procurement Vocabulary (CPV)

CPV Divisions

09 - Petroleum products, fuel, electricity and other sources of energy

65 - Public utilities

66 - Financial and insurance services

71 - Architectural, construction, engineering and inspection services

CPV Codes

09000000 - Petroleum products, fuel, electricity and other sources of energy

65400000 - Other sources of energy supplies and distribution

66132000 - Commodity brokerage services

71314000 - Energy and related services

71314200 - Energy-management services

Notice Value(s)

Tender Value
£150,000 £100K-£500K
Lots Value
Not specified
Awards Value
£8,572 Under £100K
Contracts Value
Not specified

Notice Dates

Publication Date
6 Apr 20178 years ago
Submission Deadline
22 Jul 2016Expired
Future Notice Date
Not specified
Award Date
4 Sep 20169 years ago
Contract Period
5 Sep 2016 - 5 Sep 2017 6-12 months
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
LONDON BOROUGH OF TOWER HAMLETS
Contact Name
Andrew Shorter
Contact Email
procurement@towerhamlets.gov.uk
Contact Phone
+44 2073644099

Buyer Location

Locality
LONDON
Postcode
E14 2BG
Post Town
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
TLI London
Local Authority
Tower Hamlets
Electoral Ward
Poplar
Westminster Constituency
Poplar and Limehouse

Supplier Information

Number of Suppliers
1
Supplier Name

THE ENERGY BROKERS

Further Information

Open Contracting Data Standard (OCDS)

View full OCDS Record for this contracting process

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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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