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T148 - Risk Management Advisory Services

NI Water and its subsidiaries

This public procurement record has 4 releases in its history.

Award

18 Sep 2026 at 10:49

UK7 - Contract Details Notice
Award

07 Sep 2026 at 17:35

UK6 - Contract Award Notice
Tender

02 Jul 2026 at 15:33

UK4 - Tender Notice
Planning

30 Mar 2026 at 16:15

UK2 - Preliminary Market Engagement Notice
Summary of the contracting process

Northern Ireland Water Limited procured risk management advisory services for its energy operations. The requirement covers ongoing development of the client’s energy risk management policy and strategy, together with advice on energy price hedging using commodity financial derivatives and indices. It is a specialist professional services opportunity combining financial, treasury and energy-management expertise, including energy-related consultancy (CPV 66000000, 71314000 and 71314200). The buyer is Northern Ireland Water Limited, based in Belfast, and the services support its business as a regulated water utility. The contract also allows additional risk management services related to the client’s business and other energy-related services. The requirement was structured as one lot and is suitable for established financial or energy advisory firms able to provide continuing strategic and market-facing support.

This procurement has been awarded and the contract has been signed. Centrus Financial Advisors Limited was awarded the contract on 7 September 2026, following a selective competitive flexible procedure. Four bids were received and two reached the final stage. Evaluation gave quality a 60% weighting and price 40%. The awarded value is £980,000 excluding VAT, or £1,176,000 including VAT. The signed contract is valued at £1,254,000 including VAT. The contract runs from 1 October 2026 to 30 September 2028, with five optional one-year extensions allowing a maximum period to 30 September 2033. The standstill period ended on 16 September 2026 and the contract was signed on 18 September 2026. Additional services may be purchased during the contract, with the advertised value capped at twice its stated value.

This opportunity demonstrates recurring demand from a water utility for specialist energy risk and treasury advice rather than general management consultancy. A credible future competitor would need to develop and maintain an energy risk management policy and strategy, advise on energy price exposure, and apply practical knowledge of commodity financial derivatives and relevant indices. Firms should be able to combine financial markets, treasury and energy-management capability, translating market analysis into advice that supports an operational utility client. The strong quality weighting indicates that technical approach, relevant expertise and service delivery capability matter substantially alongside price. The two final-stage bids show that the requirement attracted a focused field of competitors. Useful evidence would include comparable energy hedging mandates, policy development work, dependable ongoing advisory support, and clear performance management for response times and billing.

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Notice Information

Notice Title

T148 - Risk Management Advisory Services

Notice Description

The provision of Risk Management Advisory Services including the ongoing development of the Client's energy risk management policy and strategy, and provision of advisory services in respect of energy price hedging through the use of commodity financial derivatives and indices.

Lot Information

Lot 1

Options: The Client reserves the right to purchase the following additional Services under this Contract during the Contract Period, the cumulative effect of these additional Services will not increase the Contract's value to more than two times the value advertised in the contract notice. * Other risk management services related to the Clients business * Other energy related services

Renewal: An extension of 12 Months, up to 5 times.

Planning Information

NI Water is preparing to go out to market to appoint an external support for Hedging Advisory Services. Prior to publishing the tender, we would like to invite interested parties to meet with us during the first week of May 2026. The purpose of these meetings is to outline the upcoming tender process and gather valuable market insights that may help shape the final requirements. If you are interested in meeting with NI Water, please contact us at: sourcing@niwater.com – FAO Neil Elliott

Notice Details

Publication & Lifecycle

Open Contracting ID
ocds-h6vhtk-067832
Publication Source
Find A Tender Service
Latest Notice
https://www.find-tender.service.gov.uk/Notice/088547-2026
Current Stage
Award
All Stages
Planning, Tender, Award

Procurement Classification

Notice Type
UK7 - Contract Details Notice
Procurement Type
Standard
Procurement Category
Services
Procurement Method
Selective
Procurement Method Details
Competitive flexible procedure
Tender Suitability
Not specified
Awardee Scale
Large

Common Procurement Vocabulary (CPV)

CPV Divisions

66 - Financial and insurance services

71 - Architectural, construction, engineering and inspection services

CPV Codes

66000000 - Financial and insurance services

66600000 - Treasury services

71314000 - Energy and related services

71314200 - Energy-management services

71314300 - Energy-efficiency consultancy services

Notice Value(s)

Tender Value
£950,000 £500K-£1M
Lots Value
£950,000 £500K-£1M
Awards Value
£980,000 £500K-£1M
Contracts Value
£1,254,000 £1M-£10M

Notice Dates

Publication Date
18 Sep 20262 weeks ago
Submission Deadline
Not specified
Future Notice Date
Not specified
Award Date
7 Sep 20261 months ago
Contract Period
1 Oct 2026 - 30 Sep 2028 2-3 years
Recurrence
2033-05-02

Notice Status

Tender Status
Complete
Lots Status
Complete
Awards Status
Active
Contracts Status
Active

Buyer & Supplier

Contracting Authority (Buyer)

Main Buyer
NI Water and its subsidiaries
Contact Name
Available with D3 Tenders Premium →
Contact Email
Available with D3 Tenders Premium →
Contact Phone
Available with D3 Tenders Premium →

Buyer Location

Locality
BELFAST
Postcode
BT14 6TE
Postcode Area
Northern Ireland
Country
Northern Ireland
Major Region (ITL 1)
TLN Northern Ireland
Basic Region (ITL 2)
TLN0 Northern Ireland
Small Region (ITL 3)
TLN06 Belfast
Delivery Location
Not specified
Local Authority
Belfast
Electoral Ward
Chichester Park
Westminster Constituency
Belfast North

Supplier Information

Number of Suppliers
1
Supplier Name

Centrus Financial Advisors Limited

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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