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2026-056 Cost of Debt Support

Ofgem

This public procurement record has 1 release in its history.

Award

21 Aug 2026 at 17:45

Award Notice
Summary of the contracting process

Ofgem procured specialist financial consultancy services for its Regulatory Finance function. The requirement is on-demand cost of debt analytical support for price control work, including RIIO-3 and ED3, and for assessing how cost of debt interacts with financeability. Support is to be drawn down flexibly under a call-off arrangement as emerging priorities and deadlines arise. The main classification is financial consultancy services, with an additional focus on financial market regulatory services. Delivery covers Ofgem’s work across the United Kingdom and internationally, including Europe, the Channel Islands, the Isle of Man, British Overseas Territories and the rest of the world. Ofgem is based in London. The opportunity was identified as suitable for small and medium-sized enterprises.

The procurement is complete and was run as an open procedure. The tender submission deadline was 1 January 2026. Ofgem awarded the contract to Cepa LLP on 27 July 2026. The awarded value is £120,000, and the contract runs from 29 July 2026 to 28 July 2027. The requirement is structured as a flexible call-off arrangement, allowing analytical support to be commissioned when required across the buyer’s price control programme. The award was active at the recorded stage. The procurement’s stated category is services, covering specialist cost of debt analysis and related regulatory finance advice. Cepa LLP is the selected supplier for the requirement.

This procurement demonstrates demand from Ofgem for specialist advisers who can analyse the cost of debt in regulated utility finance and apply that analysis to price controls and financeability assessments. Credible competitors would need strong expertise in debt markets, regulatory finance, cost of capital analysis and the economics of regulated networks. They would also need to translate technical financial evidence into advice that supports regulatory decisions, respond to changing priorities, and work to demanding programme deadlines. Experience of UK utility regulation and major price control processes would be particularly relevant, including the ability to understand interactions between financing assumptions and the financial resilience of regulated businesses. The flexible call-off model favours firms able to provide senior analytical capacity on demand.

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Notice Information

Notice Title

2026-056 Cost of Debt Support

Notice Description

Ofgem requires the ability to draw down as and when required, to a supplier to provide specialist Cost of Debt (CoD) analytical expertise to support Ofgem's Regulatory Finance function. The supplier will provide on-demand CoD analytical support across Ofgem's price control work (e.g. RIIO-3 / ED3) and the interaction of CoD with financeability assessments. Support will be commissioned flexibly under the call-off arrangement to respond to emerging priorities and deadlines.

Notice Details

Publication & Lifecycle

Open Contracting ID
ocds-b5fd17-834b6aeb-dbb2-4d3d-9c97-8ddbf0a4e82d
Publication Source
Contracts Finder
Latest Notice
https://www.contractsfinder.service.gov.uk/Notice/ad663e49-c4ae-4fff-ab6f-cd13a11439a4
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

66152000 - Financial market regulatory services

66171000 - Financial consultancy services

Notice Value(s)

Tender Value
£120,000 £100K-£500K
Lots Value
Not specified
Awards Value
£120,000 £100K-£500K
Contracts Value
Not specified

Notice Dates

Publication Date
21 Aug 20265 days ago
Submission Deadline
1 Jan 2026Expired
Future Notice Date
Not specified
Award Date
27 Jul 20261 months ago
Contract Period
29 Jul 2026 - 28 Jul 2027 6-12 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
Ofgem
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

Cepa Llp

Further Information

Notice Documents

Open Contracting Data Standard (OCDS)

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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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