Notice Information
Notice Title
Development of financial model compliant with FAST modelling standard
Notice Description
For PR14 Ofwat developed a financial model in partnership with PwC. The PR14 financial model had three purposes. * To determine the wholesale price controls. * To calculate the revenues arising from the retail price controls. * To help assess financeability of the appointee, with the ability to refine the wholesale price control limits until target financeability indicators are satisfied. The model went through significant development during the price review process, with six versions of the financial model being published. Ofwat has rebuilt the PR14 Financial Model in accordance with the FAST modelling standard. The rebuilt model replicates the core calculations of the PR14 financial model in a simpler structure. This model replicates very closely the allowed revenue and financeability indicator results from PR14. The design approach for the redesigned model uses a reduced set of live financial statements with phases turned on and off with 'flags'. The rebuilt model will provide a solid framework for implementing the modelling changes required to reflect Ofwat's developing Water 2020 methodology. Objectives and scope of the work The primary purpose of this work is to continue the development of the rebuilt, simplified, financial model in a way that is compliant with the FAST modelling standard. The work will cover the period November 2016 - 24 February 2017, the Project Manager will keep the timeframe under review and where necessary may opt to extend the timeframe. The work will focus on six areas: * RPI / CPI (H) - to enable the model to deal with two forms of indexation * Separate RCVs - Create multiple RCV accounts to track guaranteed balances and RPI and CPI(H) indexed balances * 4 x wholesale controls - Bifurcate water and wastewater controls. * Monte Carlo analysis - Establish architecture to implement @risk analysis of key variables. * Sensitivity analysis - Establish architecture for sensitivity analysis. * Improve notionalisation - PR14 used a lengthy process (detailed in the PR14 financial model user guide) to move from actual to notional capital structure. The aim of this work is to streamline this process. The model is expected to make minimal use of macros and to make minimal use of named ranges (in accordance with FAST standard "FAST 3.03-08").
Notice Details
Publication & Lifecycle
- Open Contracting ID
- ocds-b5fd17-c561a599-2b75-4629-a541-fcead1406e15
- Publication Source
- Contracts Finder
- Latest Notice
- https://www.contractsfinder.service.gov.uk/Notice/1478d546-a32b-47ca-a3e7-749bbaf2b881
- Current Stage
- Award
- All Stages
- Award
Procurement Classification
- Notice Type
- Award Notice
- Procurement Type
- Standard
- Procurement Category
- Services
- Procurement Method
- Not Specified
- Procurement Method Details
- Other -
- Tender Suitability
- SME
- Awardee Scale
- Large
Common Procurement Vocabulary (CPV)
- CPV Divisions
72 - IT services: consulting, software development, Internet and support
-
- CPV Codes
72000000 - IT services: consulting, software development, Internet and support
Notice Value(s)
- Tender Value
- £35,650 Under £100K
- Lots Value
- Not specified
- Awards Value
- £35,650 Under £100K
- Contracts Value
- Not specified
Notice Dates
- Publication Date
- 20 Mar 20178 years ago
- Submission Deadline
- 28 Oct 2016Expired
- Future Notice Date
- Not specified
- Award Date
- 21 Nov 20169 years ago
- Contract Period
- 22 Nov 2016 - 24 Feb 2017 1-6 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
- WATER SERVICES REGULATION AUTHORITY
- Contact Name
- Available with D3 Tenders Premium →
- Contact Email
- Available with D3 Tenders Premium →
- Contact Phone
- Available with D3 Tenders Premium →
Buyer Location
- Locality
- BIRMINGHAM
- Postcode
- B5 4UA
- Post Town
- Birmingham
- Country
- England
-
- Major Region (ITL 1)
- TLG West Midlands (England)
- Basic Region (ITL 2)
- TLG3 West Midlands
- Small Region (ITL 3)
- TLG31 Birmingham
- Delivery Location
- TLG West Midlands (England), TLI London
-
- Local Authority
- Birmingham
- Electoral Ward
- Ladywood
- Westminster Constituency
- Birmingham Ladywood
Further Information
Notice Documents
-
https://www.contractsfinder.service.gov.uk/Notice/1478d546-a32b-47ca-a3e7-749bbaf2b881
20th March 2017 - Awarded contract notice on Contracts Finder
Open Contracting Data Standard (OCDS)
View full OCDS Record for this contracting process
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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