Award

Economic Consultants for Long Duration Energy Storage (LDES)

OFGEM

This public procurement record has 1 release in its history.

Award

04 Apr 2025 at 16:45

Award Notice
Summary of the contracting process

Ofgem, located in London, England, has completed the procurement process for economic consultancy services related to Long Duration Energy Storage (LDES). The contract, titled "Economic Consultants for Long Duration Energy Storage (LDES)," falls under the Financial consultancy services industry category (CPV 66171000) with additional classifications in electricity and energy-related services. The contract, valued at £600,000, was awarded to Cepa Llp. This open procedure aimed to secure specialist economic support for developing and executing a cap and floor regime for LDES investments. The procurement process began with the tender period ending on 1 January 2025, followed by the contract period running from 3 April 2025 to 2 April 2028.

This tender represents significant opportunities for businesses specialising in financial consultancy and energy-related services, particularly those with expertise in economic and policy advice. SMEs are particularly encouraged to engage, as the suitability criteria favour small and medium-sized enterprises. Companies with a strong understanding of regulatory frameworks and energy storage investments can leverage this contract to expand their market presence and contribute to shaping energy policies. The extensive geographical scope, covering British Overseas Territories, Channel Islands, Europe, Isle of Man, and the United Kingdom, offers a broad operational footprint for potential suppliers.

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Notice Information

Notice Title

Economic Consultants for Long Duration Energy Storage (LDES)

Notice Description

Ofgem require a supplier with specialist economic support to provide economic and financial policy advice on the regulatory regime design of a new cap and floor regime to support investment in Long Duration Electricity Storage (LDES). To support Ofgem's work on both developing and running efficient processes to make decisions around awarding "cap and floor" support, the supplier will provide economic support in relation to policy and delivery.

Notice Details

Publication & Lifecycle

Open Contracting ID
ocds-b5fd17-e81b0522-efda-418d-ba4e-d85288b41622
Publication Source
Contracts Finder
Latest Notice
https://www.contractsfinder.service.gov.uk/Notice/50a611b4-abef-49a7-a755-e12ff1dfdee9
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

09 - Petroleum products, fuel, electricity and other sources of energy

66 - Financial and insurance services

71 - Architectural, construction, engineering and inspection services

CPV Codes

09300000 - Electricity, heating, solar and nuclear energy

66171000 - Financial consultancy services

71314000 - Energy and related services

Notice Value(s)

Tender Value
£600,000 £500K-£1M
Lots Value
Not specified
Awards Value
£600,000 £500K-£1M
Contracts Value
Not specified

Notice Dates

Publication Date
4 Apr 20251 years ago
Submission Deadline
1 Jan 2025Expired
Future Notice Date
Not specified
Award Date
1 Apr 20251 years ago
Contract Period
2 Apr 2025 - 2 Apr 2028 3-4 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

CEPA

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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