Award

OFTO Policy Review

OFGEM

This public procurement record has 1 release in its history.

Award

18 Jan 2024 at 17:45

Award Notice
Summary of the contracting process

The procurement process for the "OFTO Policy Review" tender, led by Ofgem in London, involves a review of ITT processes to enhance efficiency in the bidding process. The tender, classified under financial management consultancy services, has a contract value of £215,500 in GBP. It follows an open procedure procurement method, with a tender period ending on January 1, 2024, and a contract period from January 18, 2024, to January 17, 2026.

This tender opportunity, suited for businesses in financial consultancy services, can drive growth for SMEs. The procurement stage has reached the award phase, allowing suppliers like Smith Square Partners Llp to contribute.Contracting with Ofgem could provide a platform for firms to showcase expertise and potentially secure future contracts. The awarded contract, with a contract period up to 2026, presents a significant opportunity for successful suppliers to establish long-term partnerships with Ofgem in the financial management sector.

Find more tenders on our Open Data Platform.
How relevant is this notice?

D3 Tenders Premium

Win More Public Sector Contracts

AI-powered tender discovery, pipeline management, and market intelligence — everything you need to grow your public sector business.

Start Free Trial Book a Demo
All Features Pricing

Notice Information

Notice Title

OFTO Policy Review

Notice Description

The processes for bidding for OFTOs does not always meet the targeted dates in the timetable set out in the ITT. The objective of this process efficiency review is to stand back and examine the processes that have built up in the ITT phase to assess whether there are changes that can be made that are within Ofgem's control which will help drive efficiencies in the ITT bidding process and shorten the length of the subsequent Preferred Bidder to Financial Close stage. Consideration should also be given as to whether an incentive mechanism would be beneficial to drive behaviour further. This is to be structured as 3 workstreams which will run broadly in parallel. The first module will review Ofgem's cost assessment process; the second module, opportunities for greater standardisation of the Sale and Purchase Agreement (SPA); and the third module will develop a cash incentive mechanism that takes account of the findings from the two other modules.

Notice Details

Publication & Lifecycle

Open Contracting ID
ocds-b5fd17-962c6504-c6d8-425b-b3a0-607d56b20300
Publication Source
Contracts Finder
Latest Notice
https://www.contractsfinder.service.gov.uk/Notice/0c4a5613-341b-4520-acb8-11d0fad61dfa
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

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

CPV Codes

79412000 - Financial management consultancy services

Notice Value(s)

Tender Value
£215,500 £100K-£500K
Lots Value
Not specified
Awards Value
£215,500 £100K-£500K
Contracts Value
Not specified

Notice Dates

Publication Date
18 Jan 20242 years ago
Submission Deadline
1 Jan 2024Expired
Future Notice Date
Not specified
Award Date
17 Jan 20242 years ago
Contract Period
18 Jan 2024 - 17 Jan 2026 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
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
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

SMITH SQUARE PARTNERS

Further Information

Notice Documents

Open Contracting Data Standard (OCDS)

View full OCDS Record for this contracting process

Download

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. 

{
    "tag": [
        "compiled"
    ],
    "id": "ocds-b5fd17-962c6504-c6d8-425b-b3a0-607d56b20300-2024-01-18T17:45:19Z",
    "date": "2024-01-18T17:45:19Z",
    "ocid": "ocds-b5fd17-962c6504-c6d8-425b-b3a0-607d56b20300",
    "language": "en",
    "initiationType": "tender",
    "tender": {
        "id": "MT231147",
        "title": "OFTO Policy Review",
        "description": "The processes for bidding for OFTOs does not always meet the targeted dates in the timetable set out in the ITT. The objective of this process efficiency review is to stand back and examine the processes that have built up in the ITT phase to assess whether there are changes that can be made that are within Ofgem's control which will help drive efficiencies in the ITT bidding process and shorten the length of the subsequent Preferred Bidder to Financial Close stage. Consideration should also be given as to whether an incentive mechanism would be beneficial to drive behaviour further. This is to be structured as 3 workstreams which will run broadly in parallel. The first module will review Ofgem's cost assessment process; the second module, opportunities for greater standardisation of the Sale and Purchase Agreement (SPA); and the third module will develop a cash incentive mechanism that takes account of the findings from the two other modules.",
        "status": "complete",
        "classification": {
            "scheme": "CPV",
            "id": "79412000",
            "description": "Financial management consultancy services"
        },
        "items": [
            {
                "id": "1",
                "deliveryAddresses": [
                    {
                        "countryName": "British Oversea Territories"
                    },
                    {
                        "countryName": "Channel Islands"
                    },
                    {
                        "countryName": "Europe"
                    },
                    {
                        "countryName": "Isle of Man"
                    },
                    {
                        "countryName": "Rest of the World"
                    },
                    {
                        "countryName": "United Kingdom"
                    }
                ]
            }
        ],
        "value": {
            "amount": 215500,
            "currency": "GBP"
        },
        "procurementMethod": "open",
        "procurementMethodDetails": "Open procedure",
        "tenderPeriod": {
            "endDate": "2024-01-01T00:00:00Z"
        },
        "contractPeriod": {
            "startDate": "2024-01-18T00:00:00Z",
            "endDate": "2026-01-17T23:59:59Z"
        },
        "suitability": {
            "sme": true,
            "vcse": false
        },
        "mainProcurementCategory": "services"
    },
    "parties": [
        {
            "id": "GB-CFS-84321",
            "name": "Ofgem",
            "identifier": {
                "legalName": "Ofgem"
            },
            "address": {
                "streetAddress": "10 South Colonnade, Canary Wharf",
                "locality": "London",
                "postalCode": "E14 4PU",
                "countryName": "England"
            },
            "contactPoint": {
                "name": "Lynsey Gordon",
                "email": "procurement2@ofgem.gov.uk",
                "telephone": "+44 2079017000"
            },
            "details": {
                "url": "http://www.ofgem.gov.uk"
            },
            "roles": [
                "buyer"
            ]
        },
        {
            "id": "GB-COH-OC357682",
            "name": "Smith Square Partners Llp",
            "identifier": {
                "legalName": "Smith Square Partners Llp",
                "scheme": "GB-COH",
                "id": "OC357682"
            },
            "address": {
                "streetAddress": "Byron House, 7-9 St James's Street, London"
            },
            "roles": [
                "supplier"
            ]
        }
    ],
    "buyer": {
        "id": "GB-CFS-84321",
        "name": "Ofgem"
    },
    "awards": [
        {
            "id": "ocds-b5fd17-962c6504-c6d8-425b-b3a0-607d56b20300-1",
            "status": "active",
            "date": "2024-01-17T00:00:00Z",
            "datePublished": "2024-01-18T17:45:19Z",
            "value": {
                "amount": 215500,
                "currency": "GBP"
            },
            "suppliers": [
                {
                    "id": "GB-COH-OC357682",
                    "name": "Smith Square Partners Llp"
                }
            ],
            "contractPeriod": {
                "startDate": "2024-01-18T00:00:00Z",
                "endDate": "2026-01-17T23:59:59Z"
            },
            "documents": [
                {
                    "id": "1",
                    "documentType": "awardNotice",
                    "description": "Awarded contract notice on Contracts Finder",
                    "url": "https://www.contractsfinder.service.gov.uk/Notice/0c4a5613-341b-4520-acb8-11d0fad61dfa",
                    "datePublished": "2024-01-18T17:45:19Z",
                    "format": "text/html",
                    "language": "en"
                },
                {
                    "id": "2",
                    "documentType": "tenderNotice",
                    "description": "NOTE: To register your interest in this notice and obtain any additional information please visit the myTenders Web Site at the link provided.",
                    "url": "https://www.mytenders.co.uk/search/show/search_view.aspx?ID=JAN167600"
                }
            ]
        }
    ]
}