Award

Call off for Special Financial Support

WATER SERVICES REGULATION AUTHORITY (OFWAT)

This public procurement record has 2 releases in its history.

AwardUpdate

24 Feb 2020 at 10:28

Award Notice
Award

18 Feb 2020 at 16:46

Award Notice
Summary of the contracting process

The Water Services Regulation Authority (Ofwat) has initiated a tender titled "Call off for Special Financial Support" aimed at securing specialist advisory services to enhance financial resilience within the regulated companies. This tender falls under the industry category of general management consultancy services and is located in Birmingham and London, United Kingdom. The procurement process is currently in the Award stage, having been published on 18 February 2020, following contract commencement on 2 January 2019. The call-off contract is expected to run for two years, with an option for a one-year extension, and was procured through a selective method from a framework agreement.

This tender offers significant opportunities for firms specialising in management consultancy and financial advisory services, particularly those with expertise in financial analysis and crisis management. Suitably qualified businesses can apply for one or more of the four identified workstreams, which include financial resilience analysis, support for companies in distress, special administration advisory services, and complex transaction analysis. Both small and medium-sized enterprises (SMEs) are encouraged to participate, as the framework intends to appoint multiple contractors, thereby increasing the chances for competitive bidding.

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Notice Information

Notice Title

Call off for Special Financial Support

Notice Description

In assuming our role as the regulator, we must be able to react quickly to events outside of our control and triggered by the market. In fulfilling our statutory duties we must ensure the skills and expertise are available to undertake any assessment as it occurs and to mitigate the impact on customers. This call off contract will form part of our risk mitigation and management strategy. This call off Contract follows a Phase 1 call off Contract previously procured in February 2018 for short term support to deliver specific work in relation to financial resilience of the companies which we regulate. We now seek to put in place a wider long term arrangement for the provision of specialist advisory services which may result in one of the areas of work set out in the overall objectives and scope sections of this document. We seek to ensure that we have the necessary support in place to allow us to respond to issues which may impact on a company's financial resilience including matters of financial distress and special administration as well as support in other areas where we might have to assess Merger or Acquisition. The requirement is divided up into 4 workstreams: Workstream 1: Financial Resilience - Analysis of a company's financial position and any possible interventions that may be required Workstream 2: Financial Distress - An entity has a known issue and are likely to be close to or in a position of financial distress Workstream 3: Special Administration - Providing advice to Ofwat where a company is the subject of a Special Administration order Workstream 4: Other Workstreams - Analysis of complex transactions/infrastructure procurement and delivery and/or assessment of an Interim Determination of K (IDoK), a mid-period price review action to adjust prices for the current price control period. To assist in our planning, we propose a call off contract with multiple Contractors with a sufficiently wide scope to cover a range of scenarios, who have demonstrated they should be awarded the Contract through the evaluation process. The number will be dependent on the quality of the bids. This is to mitigate against any conflicts of interest and capacity issues. Contractors are able to bid for one or more workstreams. We are looking to appoint up to 4 Contractors for each workstream, who are best suited to supply services for the particular workstream. However, the final number will be dependent on the quality of the bids which may mean the number of appointed Contractors may be greater or lower than stated. The section on call off of Services outlines the process for activation of the call off. The Contract term will be for TWO years from Contract commencement date with an option for a ONE year extension. Framework rates are to be fixed for the initial 2 years of the Contract. Please refer to the ITT for more information. Additional information: For Further information please contact, procurement@ofwat.gov.uk

Notice Details

Publication & Lifecycle

Open Contracting ID
ocds-b5fd17-71ce76f4-1f32-4ef9-90b4-60d7da65c899
Publication Source
Contracts Finder
Latest Notice
https://www.contractsfinder.service.gov.uk/Notice/963e0403-c15b-4ed0-a624-804617e09592
Current Stage
Award
All Stages
Award

Procurement Classification

Notice Type
Award Notice
Procurement Type
Framework
Procurement Category
Services
Procurement Method
Selective
Procurement Method Details
Call-off from a framework agreement
Tender Suitability
SME
Awardee Scale
Large

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
Not specified
Lots Value
Not specified
Awards Value
Not specified
Contracts Value
Not specified

Notice Dates

Publication Date
24 Feb 20206 years ago
Submission Deadline
19 Nov 2018Expired
Future Notice Date
Not specified
Award Date
5 Dec 20187 years ago
Contract Period
2 Jan 2019 - 1 Jan 2021 2-3 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
WATER SERVICES REGULATION AUTHORITY (OFWAT)
Contact Name
Available with D3 Tenders Premium →
Contact Email
Available with D3 Tenders Premium →
Contact Phone
Available with D3 Tenders Premium →

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

PRICEWATERHOUSECOOPERS

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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