D3 Tenders | Financial Advice for Nuclear

Notice Information

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Notice Title

Financial Advice for Nuclear

Notice Description

he original costs for this contract (and related service) awarded in 2017 were historically forecast upon the Wylfa reactor programme. It was envisaged BEIS would then design a generic nuclear RAB model, the structure of which would then be passed to Ofgem to finish and implement. Therefore the exact nature of the required future spend to support other nuclear programmes (such as Sizewell C / SZC) was based on really high level estimate as the nature of those forthcoming programmes was not known at that time. During 2019 - 2020 HMG then had a change in policy direction. Wylfa had ceased to be a live project with the only largescale nuclear project remaining being SZC . At this point HMG did not want to pass lead responsibility to OFGEM to complete and implement. HMG kept the project lead and now has more responsibilities for the entire design (of the structure), negotiation and ongoing implementation. That means HMG and BEIS role is far greater than ever envisaged back in 2017. Therefore the spend has been faster and greater than was anticipated with the supplier PwC, for its financial advisory services. Going forward, any delay of support from PwC would significantly affect HMG's power of negotiation and subsequently affect EDF's confidence in HMG. This would create the risk of EDF possibly cancelling the entire project. Which in turn generates further risks for HMG - failing to deliver Carbon Budget no 6 target and the Prime Ministers 10 point plan. Due to the complex nature of the programme, the initial allocated budget of PS4.5M since 2017 is being consumed faster than anticipated. The additional spend increase of PS2,250,000 has been added to the contract

Notice Details

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Publication & Lifecycle

Open Contracting ID: ocds-b5fd17-bba5101e-b283-475e-8a19-9aa72f0cd751
Publication Source: Contracts Finder
Latest Notice: https://www.contractsfinder.service.gov.uk/Notice/ad0b5b97-4cbd-41b4-84c2-654a00bc4e8b
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: Not specified
Awardee Scale: Large

Common Procurement Vocabulary (CPV)

CPV Divisions: 66 - Financial and insurance services
CPV Codes: 66000000 - Financial and insurance services

Notice Value(s)

Tender Value: £6,750,000 £1M-£10M
Lots Value: Not specified
Awards Value: £11,250,000 £10M-£100M
Contracts Value: Not specified

Notice Dates

Publication Date: 9 Sep 20214 years ago
Submission Deadline: 10 Dec 2017Expired
Future Notice Date: Not specified
Award Date: 30 Nov 20178 years ago
Contract Period: 11 Dec 2017 - 10 Dec 2022 Over 5 years
Recurrence: Not specified

Notice Status

Tender Status: Complete
Lots Status: Not Specified
Awards Status: Active
Contracts Status: Not Specified

Buyer & Supplier

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Contracting Authority (Buyer)

Main Buyer: BUSINESS ENERGY AND INDUSTRIAL STRATEGY
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: SW1H 0ET
Post Town: South West London
Country: England
Major Region (ITL 1): TLI London
Basic Region (ITL 2): TLI3 Inner London - West
Small Region (ITL 3): TLI35 Westminster and City of London
Delivery Location: TLI London
Local Authority: Westminster
Electoral Ward: St James's
Westminster Constituency: Cities of London and Westminster

Supplier Information

Number of Suppliers: 1
Supplier Name: PRICEWATERHOUSECOOPERS

Further Information

Notice Documents

https://www.contractsfinder.service.gov.uk/Notice/ad0b5b97-4cbd-41b4-84c2-654a00bc4e8b
9th September 2021 - Awarded contract notice on Contracts Finder
https://www.contractsfinder.service.gov.uk/Notice/03149831-aea6-4230-91a6-402056904893
25th January 2018 - Awarded contract notice on Contracts Finder

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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