Award

RIIO-ED2 PCFM Financial Model Audit

OFGEM

This public procurement record has 1 release in its history.

Award

24 Mar 2022 at 17:45

Award Notice
Summary of the contracting process

The procurement process titled "RIIO-ED2 PCFM Financial Model Audit" is being conducted by Ofgem, the regulatory authority for the electricity and gas markets in Great Britain. This opportunity falls within the auditing services industry category and is taking place in the United Kingdom. The current procurement stage is the Award phase, with the contract awarded on 24th March 2022, for a total value of £91,000. The contract period is set to commence on 1st April 2022 and will conclude on 31st March 2023.

This tender presents significant opportunities for businesses, particularly those that specialise in financial consultancy and auditing services. Companies with expertise in providing assurance on financial models or related compliance services would be well-suited to compete in this space. Small and medium-sized enterprises (SMEs) are encouraged to engage with this contract, given the nature of the work which may require flexibility and specialised knowledge, enhancing prospects for business growth within the sector.

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Notice Information

Notice Title

RIIO-ED2 PCFM Financial Model Audit

Notice Description

Financial model audit services are required to provide assurance on the RIIO-2 Electricity Distribution Price Control Financial Model (RIIO-ED2 PCFM). The model acts as the official licence instrument for setting revenues for the Distribution Network Operators (DNOs). The audit is essential for providing external stakeholders with confidence in the model and will be an important mitigant against DNOs' appeals to the Competition and Markets Authority (CMA). As such the audit must be carried out by an external consultant.

Notice Details

Publication & Lifecycle

Open Contracting ID
ocds-b5fd17-bf006c90-aa8c-41b9-b0d2-6e8b54d44415
Publication Source
Contracts Finder
Latest Notice
https://www.contractsfinder.service.gov.uk/Notice/f02170e6-4443-4c2a-b54b-a83f0a8a2bb5
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
Large

Common Procurement Vocabulary (CPV)

CPV Divisions

66 - Financial and insurance services

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

CPV Codes

66171000 - Financial consultancy services

79212000 - Auditing services

79212100 - Financial auditing services

Notice Value(s)

Tender Value
£91,000 Under £100K
Lots Value
Not specified
Awards Value
£91,000 Under £100K
Contracts Value
Not specified

Notice Dates

Publication Date
24 Mar 20223 years ago
Submission Deadline
1 Jan 2022Expired
Future Notice Date
Not specified
Award Date
24 Mar 20223 years ago
Contract Period
31 Mar 2022 - 31 Mar 2023 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
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

GRIDLINES GROUP

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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