Award

Adviser for Ofwat's response to CMA document

WATER SERVICES REGULATION AUTHORITY (OFWAT)

This public procurement record has 1 release in its history.

Award

04 Feb 2021 at 11:14

Award Notice
Summary of the contracting process

The Water Services Regulation Authority (Ofwat) has completed a procurement process, awarding a contract for consultancy titled "Adviser for Ofwat's response to CMA document." This procurement, classified under general management consultancy services, focused on providing expert analysis concerning the Competition and Markets Authority's findings related to the allowed return for water companies. The contract, valued at £20,000, had an initiation date of 4th February 2021, with deliverables required by key deadlines throughout October 2020, including a final report to be published on Ofwat's website.

This contract presents an opportunity for consultancy firms specialising in regulatory analysis, economic modelling, or financial consultancy, particularly those with expertise in the water sector. Businesses that can demonstrate competency in addressing complex financial assessments or regulatory matters, especially those classified as small and medium enterprises (SMEs), are well-positioned to compete. Engaging in such tenders allows firms to enhance their portfolio by contributing to critical regulatory discussions affecting the water industry, ultimately supporting their growth and reputation in this sector.

Find more tenders on our Open Data Platform.
How relevant is this notice?

D3 Tenders Premium

Win More Public Sector Contracts

AI-powered tender discovery, pipeline management, and market intelligence — everything you need to grow your public sector business.

Start Free Trial Book a Demo
All Features Pricing

Notice Information

Notice Title

Adviser for Ofwat's response to CMA document

Notice Description

The Supplier shall provide the following Services to the Customer: Review of issues related to the allowed return in the Competition and Markets Authority (CMA's) provisional findings report on Ofwat's 2019 Price Review in response to 4 water companies' appeal, including: Risk free rate - Comment on CMA's use of AAA corporate bonds to inform RFR, with reference to assumptions required by CAPM to hold. Total market return - Comment on the CMA's range, point estimate and overall approach. Total market return - Comment on need for volatility bias adjustment and point estimate used by the CMA for 'ex-ante' approaches. Aiming up - comment on the CMA's approach to aiming up, applicability to the water sector Gearing outperformance mechanism - comment on the CMA's critique of our mechanism. The response should address concerns Order Form - Consultancy Services Commercial - Sensitive about the presence and level of gearing outperformance and lack of evidence that high gearing is harmful. It should also reference the Modigliani Miller theorem and provide a view on whether it is consistent with our mechanism, given the particular characteristics of the water sector. The Supplier shall provide the following Deliverables to the Customer as part of the Services: A report of professional opinion and findings related to the Services described above, to form part of Ofwat's response to the CMA's provisional findings (deadline 27 October 2020) and published on Ofwat's website. To meet this deadline, the Supplier is to produce a draft report by 9am 19 October 2020, with some preliminary work shared for discussion in advance; final report by 9am 26 October 2020. Final report to be published on Ofwat's website. Potential attendance by videolink at any hearings related to the above matters. Any follow-up work related to the above matters (e.g. advice on response to any questions from the CMA). Additional information: For further information, please contact procurement@ofwat.gov.uk

Notice Details

Publication & Lifecycle

Open Contracting ID
ocds-b5fd17-1a5bb337-d69e-4ee0-9527-1a6fa24baa00
Publication Source
Contracts Finder
Latest Notice
https://www.contractsfinder.service.gov.uk/Notice/9125ae21-9679-4a4d-831a-28753af83198
Current Stage
Award
All Stages
Award

Procurement Classification

Notice Type
Award Notice
Procurement Type
Standard
Procurement Category
Services
Procurement Method
Direct
Procurement Method Details
Single tender action (below threshold)
Tender Suitability
SME, VCSE
Awardee Scale
SME

Common Procurement Vocabulary (CPV)

CPV Divisions

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

CPV Codes

79411000 - General management consultancy services

Notice Value(s)

Tender Value
£20,000 Under £100K
Lots Value
Not specified
Awards Value
£20,000 Under £100K
Contracts Value
Not specified

Notice Dates

Publication Date
4 Feb 20215 years ago
Submission Deadline
1 Oct 2020Expired
Future Notice Date
Not specified
Award Date
3 Oct 20205 years ago
Contract Period
4 Oct 2020 - 30 Nov 2020 1-6 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
WATER SERVICES REGULATION AUTHORITY (OFWAT)
Contact Name
Not specified
Contact Email
mailbox@ofwat.gov.uk
Contact Phone
Not specified

Buyer Location

Locality
BIRMINGHAM
Postcode
B5 4UA
Post Town
Birmingham
Country
England
Major Region (ITL 1)
TLG West Midlands (England)
Basic Region (ITL 2)
TLG3 West Midlands
Small Region (ITL 3)
TLG31 Birmingham
Delivery Location
TLG West Midlands (England), TLI London
Local Authority
Birmingham
Electoral Ward
Ladywood
Westminster Constituency
Birmingham Ladywood

Supplier Information

Number of Suppliers
1
Supplier Name

SETH ARMITAGE

Further Information

Notice Documents

Open Contracting Data Standard (OCDS)

View full OCDS Record for this contracting process

Download

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. 

{
    "tag": [
        "compiled"
    ],
    "id": "ocds-b5fd17-1a5bb337-d69e-4ee0-9527-1a6fa24baa00-2021-02-04T11:14:10Z",
    "date": "2021-02-04T11:14:10Z",
    "ocid": "ocds-b5fd17-1a5bb337-d69e-4ee0-9527-1a6fa24baa00",
    "language": "en",
    "initiationType": "tender",
    "tender": {
        "id": "PROC.01.0672",
        "title": "Adviser for Ofwat's response to CMA document",
        "description": "The Supplier shall provide the following Services to the Customer: Review of issues related to the allowed return in the Competition and Markets Authority (CMA's) provisional findings report on Ofwat's 2019 Price Review in response to 4 water companies' appeal, including: Risk free rate - Comment on CMA's use of AAA corporate bonds to inform RFR, with reference to assumptions required by CAPM to hold. Total market return - Comment on the CMA's range, point estimate and overall approach. Total market return - Comment on need for volatility bias adjustment and point estimate used by the CMA for 'ex-ante' approaches. Aiming up - comment on the CMA's approach to aiming up, applicability to the water sector Gearing outperformance mechanism - comment on the CMA's critique of our mechanism. The response should address concerns Order Form - Consultancy Services Commercial - Sensitive about the presence and level of gearing outperformance and lack of evidence that high gearing is harmful. It should also reference the Modigliani Miller theorem and provide a view on whether it is consistent with our mechanism, given the particular characteristics of the water sector. The Supplier shall provide the following Deliverables to the Customer as part of the Services: A report of professional opinion and findings related to the Services described above, to form part of Ofwat's response to the CMA's provisional findings (deadline 27 October 2020) and published on Ofwat's website. To meet this deadline, the Supplier is to produce a draft report by 9am 19 October 2020, with some preliminary work shared for discussion in advance; final report by 9am 26 October 2020. Final report to be published on Ofwat's website. Potential attendance by videolink at any hearings related to the above matters. Any follow-up work related to the above matters (e.g. advice on response to any questions from the CMA). Additional information: For further information, please contact procurement@ofwat.gov.uk",
        "status": "complete",
        "classification": {
            "scheme": "CPV",
            "id": "79411000",
            "description": "General management consultancy services"
        },
        "items": [
            {
                "id": "1",
                "deliveryAddresses": [
                    {
                        "region": "West Midlands",
                        "countryName": "United Kingdom"
                    },
                    {
                        "region": "London",
                        "countryName": "United Kingdom"
                    }
                ]
            }
        ],
        "value": {
            "amount": 20000,
            "currency": "GBP"
        },
        "procurementMethod": "direct",
        "procurementMethodDetails": "Single tender action (below threshold)",
        "tenderPeriod": {
            "endDate": "2020-10-01T12:00:00+01:00"
        },
        "contractPeriod": {
            "startDate": "2020-10-05T00:00:00+01:00",
            "endDate": "2020-11-30T23:59:59Z"
        },
        "suitability": {
            "sme": true,
            "vcse": true
        },
        "mainProcurementCategory": "services"
    },
    "parties": [
        {
            "id": "GB-SRS-supplierregistration.cabinetoffice.gov.uk/Entf38w5",
            "name": "Water Services Regulation Authority (Ofwat)",
            "identifier": {
                "legalName": "Water Services Regulation Authority (Ofwat)",
                "scheme": "GB-SRS",
                "id": "supplierregistration.cabinetoffice.gov.uk/Entf38w5"
            },
            "address": {
                "streetAddress": "Birmingham",
                "locality": "Birmingham",
                "postalCode": "B5 4UA",
                "countryName": "England"
            },
            "contactPoint": {
                "email": "mailbox@ofwat.gov.uk"
            },
            "roles": [
                "buyer"
            ]
        },
        {
            "id": "GB-CFS-160966",
            "name": "Seth Armitage",
            "identifier": {
                "legalName": "Seth Armitage"
            },
            "address": {
                "streetAddress": "Personal details redacted"
            },
            "details": {
                "scale": "sme",
                "vcse": false
            },
            "roles": [
                "supplier"
            ]
        }
    ],
    "buyer": {
        "id": "GB-SRS-supplierregistration.cabinetoffice.gov.uk/Entf38w5",
        "name": "Water Services Regulation Authority (Ofwat)"
    },
    "awards": [
        {
            "id": "ocds-b5fd17-1a5bb337-d69e-4ee0-9527-1a6fa24baa00-1",
            "status": "active",
            "date": "2020-10-04T00:00:00+01:00",
            "datePublished": "2021-02-04T11:14:10Z",
            "value": {
                "amount": 20000,
                "currency": "GBP"
            },
            "suppliers": [
                {
                    "id": "GB-CFS-160966",
                    "name": "Seth Armitage"
                }
            ],
            "contractPeriod": {
                "startDate": "2020-10-05T00:00:00+01:00",
                "endDate": "2020-11-30T23:59:59Z"
            },
            "documents": [
                {
                    "id": "1",
                    "documentType": "awardNotice",
                    "description": "Awarded contract notice on Contracts Finder",
                    "url": "https://www.contractsfinder.service.gov.uk/Notice/9125ae21-9679-4a4d-831a-28753af83198",
                    "datePublished": "2021-02-04T11:14:10Z",
                    "format": "text/html",
                    "language": "en"
                }
            ]
        }
    ]
}