Award

Electricity (HH and NHH) Flexible Purchase

CITY OF LONDON CORPORATION

This public procurement record has 1 release in its history.

Award

17 Oct 2018 at 08:56

Award Notice
Summary of the contracting process

The City of London Corporation is seeking to procure an electricity supply contract titled "Electricity (HH and NHH) Flexible Purchase". This contract, categorized under petroleum products and energy sources, will cover both Half Hourly and non-Half Hourly meters for a duration of three years, commencing on 1 October 2018 and concluding on 30 September 2021. The open procurement method allows for bids until the deadline, which was on 16 July 2018. The total estimated value of the contract is £35,097,027, and the required delivery location is in London, United Kingdom.

This tender presents significant opportunities for businesses involved in energy supply and management, particularly those with capabilities in flexible energy contracts, renewable energy sourcing, and Power Purchase Agreements (PPAs). Companies that demonstrate experience in providing REGO-backed renewable energy or innovative contract structures for energy procurement would be well-positioned to compete for this contract. As the authority is also interested in sourcing electricity from third-party renewable generators, businesses focused on sustainability and green energy solutions could particularly thrive in this procurement process.

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Notice Information

Notice Title

Electricity (HH and NHH) Flexible Purchase

Notice Description

The Authority require a contract to include both the Half Hourly and non-Half Hourly meters, for a 3 year period commencing on the 1.10.2018 and based on a 28 day BACs payment terms with no requirement for credit mitigation. The settlement of the contract is to be based on a minimum +/-20 % annual volume tolerance with a 3 year fixed shape fee. The management fee should also be fixed for the contract duration. A flexible contract is required to allow the Authority to purchase the commodity costs via OTC (over the counter) pricing through traders at Mitie Energy's Risk Management Team. Options around ability to fix/unfix, purchase at day ahead indices, and reforecast volumes will be required. The Authority have plans in the future to source electricity via third party renewable generators and require a supplier who can show experience of the ability to provide contract structures that will allow the renewable energy, and other embedded benefits to be sleeved into the supply agreement; in addition to the Authorities requirements around Power Purchase Agreements (PPAs), they also require a supplier who can provide them with REGO (Renewable Energy Guarantee of Origin) backed renewable energy from the start of the contract, and to be able to reduce the percentage of REGOs throughout the agreement if the Authority choose to sleeve these in from a PPA at a later stage. Additional information: Total contract values given are for the full contract period, and are based upon estimated costs and volume atthe time of contract award, which may be subject to change during the lift of the contract.

Notice Details

Publication & Lifecycle

Open Contracting ID
ocds-b5fd17-5a217316-d058-4940-8877-fdd639859b5e
Publication Source
Contracts Finder
Latest Notice
https://www.contractsfinder.service.gov.uk/Notice/c0be4979-50ba-4849-9e1c-2351d5297856
Current Stage
Award
All Stages
Award

Procurement Classification

Notice Type
Award Notice
Procurement Type
Standard
Procurement Category
Goods
Procurement Method
Open
Procurement Method Details
Open procedure (above threshold)
Tender Suitability
Not specified
Awardee Scale
Large

Common Procurement Vocabulary (CPV)

CPV Divisions

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

CPV Codes

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

Notice Value(s)

Tender Value
£35,097,027 £10M-£100M
Lots Value
Not specified
Awards Value
£35,097,027 £10M-£100M
Contracts Value
Not specified

Notice Dates

Publication Date
17 Oct 20187 years ago
Submission Deadline
16 Jul 2018Expired
Future Notice Date
Not specified
Award Date
8 Aug 20187 years ago
Contract Period
30 Sep 2018 - 30 Sep 2021 3-4 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
CITY OF LONDON CORPORATION
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
EC2P 2EJ
Post Town
Central London
Country
England
Major Region (ITL 1)
TLI London
Basic Region (ITL 2)
TLI4 Inner London - East
Small Region (ITL 3)
TLI43 Haringey and Islington
Delivery Location
TLI London
Local Authority
Islington
Electoral Ward
Clerkenwell
Westminster Constituency
Islington South and Finsbury

Supplier Information

Number of Suppliers
1
Supplier Name

TOTAL GAS AND POWER

Further Information

Notice Documents

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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