Award

Insurance Adviser for Offshore Transmission TR12 and ad-hoc Policy Support

OFGEM

This public procurement record has 1 release in its history.

Award

19 Feb 2025 at 17:45

Award Notice
Summary of the contracting process

Ofgem, the regulator for the electricity and gas markets in Great Britain, has awarded a contract for insurance adviser services related to the Offshore Transmission Tender Round 12 (TR12) and ad-hoc policy support. The contract, valued at £32,400, has been awarded to Willis Limited. The procurement process, which followed an open procedure, aimed to secure essential insurance consultancy to ensure a robust tender process for TR12. The contract period spans from 10 February 2025 to 9 February 2029. The primary service locations include various regions such as the British Overseas Territories, Channel Islands, Europe, Isle of Man, the UK, and other international areas. Key dates in this procurement included the tender end date of 1 January 2025 and the award publication on 19 February 2025. The industry categories involved are insurance services, brokerage services, and consultancy services.

This tender presents significant opportunities for businesses specialising in insurance consultancy, particularly those experienced with large-scale infrastructure projects like offshore transmission. SMEs are specifically encouraged to participate, highlighting inclusivity in the award criteria. Businesses with expertise in providing robust insurance strategies and navigating complex market conditions will find this contract advantageous. By collaborating with Ofgem and other financial and technical advisers through various tender stages, the appointed supplier can enhance their portfolio and establish themselves as pivotal players in the energy sector's insurance market.

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Notice Information

Notice Title

Insurance Adviser for Offshore Transmission TR12 and ad-hoc Policy Support

Notice Description

Ofgem is required to run a tender exercise for all offshore transmission projects that qualify under the OFTO Tender Regulations 20151. The next offshore tender round - Tender Round 12 (TR12) - Ofgem is launching in February 2025. Provision of insurance consultancy support services will be crucial to ensuring that a robust tender process takes place for TR12 and without this, Ofgem will be unable to run an effective tender process for this tender round. To facilitate a robust tender evaluation process, Ofgem requires the services of a supplier on various aspects of the tender and transaction process. The supplier will provide insurance advice and support to Ofgem to ensure that the necessary insurance requirements that Offshore Electricity Transmission (OFTO) bidders are required to meet are reflected in the design and content of tender questionnaire criteria and documentation, are robustly evaluated in bidder submissions, and any insurance matters are managed and dealt with appropriately. The primary responsibility of the supplier will be to advise and assist Ofgem in evaluating the insurance related aspects of bid submissions to ensure that the appropriate bidder can be appointed successfully. This will include advice on the suitability of the bidders' insurance strategies and associated financial and commercial arrangements; and assessment of prevailing insurance market conditions and wider market conditions which may be comparable. Support with preparatory work in advance of TR12, up to and including the appointment of Preferred Bidder (PB) for the project (with the possibility of some work required for enabling Licence Grant (LG) and Financial Close (FC)) is expected. The supplier will work collaboratively with financial and technical advisers in the EPQ (Enhanced Pre-Qualification) and ITT (Invitation to Tender) stages. The financial adviser will be fulfilling the role of Lead Evaluator for both the stages, acting as a single point of contact for Ofgem, bringing together all of the evaluation sections/reports into final integrated reports.

Notice Details

Publication & Lifecycle

Open Contracting ID
ocds-b5fd17-4bbe5d33-f7e8-4e2b-9f76-64448fa45269
Publication Source
Contracts Finder
Latest Notice
https://www.contractsfinder.service.gov.uk/Notice/e6bc81b0-b556-43d5-80b3-8681d882b3fd
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
Not specified

Common Procurement Vocabulary (CPV)

CPV Divisions

66 - Financial and insurance services

CPV Codes

66510000 - Insurance services

66518100 - Insurance brokerage services

66519310 - Insurance consultancy services

Notice Value(s)

Tender Value
£32,400 Under £100K
Lots Value
Not specified
Awards Value
£32,400 Under £100K
Contracts Value
Not specified

Notice Dates

Publication Date
19 Feb 20251 years ago
Submission Deadline
1 Jan 2025Expired
Future Notice Date
Not specified
Award Date
7 Feb 20251 years ago
Contract Period
10 Feb 2025 - 9 Feb 2029 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
Lynsey Gordon
Contact Email
procurement2@ofgem.gov.uk
Contact Phone
+44 2079017000

Buyer Location

Locality
LONDON
Postcode
E14 4PU
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
Not specified
Local Authority
Tower Hamlets
Electoral Ward
Canary Wharf
Westminster Constituency
Poplar and Limehouse

Supplier Information

Number of Suppliers
1
Supplier Name

WILLIS

Further Information

Notice Documents

Open Contracting Data Standard (OCDS)

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