Award

Ask AI about this notice

Summarise, research or assess it with AI

View Markdown

Share this notice

Send this contract to a colleague

Revenue Term Policy Review & Marketing and Investor Engagement Support

PROACTIS TENDERS LIMITED MYT

This public procurement record has 1 release in its history.

Award

23 Jan 2024 at 10:44

Award Notice
Summary of the contracting process

The procurement process for the tender titled "Revenue Term Policy Review & Marketing and Investor Engagement Support" was successfully completed by Ofgem. The tender falls under the financial consultancy services category, with a contract value of £100,000. The tender, identified as MT231124, was conducted using an open procedure and was awarded to Smith Square Partners Llp. The contract period is from December 21, 2023, to December 20, 2024. The tender period ended on November 1, 2023. The buying organisation is PROACTIS TENDERS LIMITED MYT, based in London, England.

This tender presents an opportunity for businesses specializing in financial consultancy services to engage with Ofgem in conducting work related to the Revenue Term policy. Small and medium-sized enterprises (SMEs) are particularly suitable for this opportunity. The location of the tender covers various countries along with the United Kingdom, making it accessible to a wide range of businesses. Businesses interested in long-term project engagements and consultancy services related to revenue terms and investor engagement would find this tender well-suited for business growth.

How relevant is this notice?

Notice Information

Notice Title

Revenue Term Policy Review & Marketing and Investor Engagement Support

Notice Description

Ofgem require consultants to conduct work related to the Revenue Term policy for the Offshore Transmission Owner (OFTO) Regime which has evolved over a series of tender rounds. Prior to Tender Round 6 TR6, the policy was a ~ 20-year Tender Revenue Stream (TRS). Since TR6, the revenue term has increased to ~ 25 years (the exact term can vary project to project). There has been a number of considerations that have impacted Ofgem's choice of the appropriate revenue term policy for OFTO, notably: the expected life of offshore windfarms; the expected technical life of OFTO assets; precedent of the revenue term in other contexts (e.g. Private Finance Initiative); the attractiveness of different revenue terms to different financing solutions. Ofgem required a study to be created that reviewed the impact of moving to a 30-year (or longer) TRS.

Notice Details

Publication & Lifecycle

Open Contracting ID
ocds-b5fd17-7bc8bb91-c948-42e5-8c0f-4ff8531ee0c7
Publication Source
Contracts Finder
Latest Notice
https://www.contractsfinder.service.gov.uk/Notice/085244ba-10ff-40eb-aa04-1fabef532f4b
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 (above threshold)
Tender Suitability
SME
Awardee Scale
Not specified

Common Procurement Vocabulary (CPV)

CPV Divisions

66 - Financial and insurance services

73 - Research and development services and related consultancy services

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

CPV Codes

66171000 - Financial consultancy services

73000000 - Research and development services and related consultancy services

79411000 - General management consultancy services

Notice Value(s)

Tender Value
£100,000 £100K-£500K
Lots Value
Not specified
Awards Value
£100,000 £100K-£500K
Contracts Value
Not specified

Notice Dates

Publication Date
23 Jan 20242 years ago
Submission Deadline
1 Nov 2023Expired
Future Notice Date
Not specified
Award Date
19 Dec 20232 years ago
Contract Period
21 Dec 2023 - 20 Dec 2024 1-2 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
PROACTIS TENDERS LIMITED MYT
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
E14 4PU
Postcode Area
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

Smith Square Partners Llp

Further Information

Notice Documents

Open Contracting Data Standard (OCDS)

View full OCDS Record for this contracting process

JSON Markdown

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.

Loading OCDS record...