Award

Ask AI about this notice

Summarise, research or assess it with AI

View Markdown

Share this notice

Send this contract to a colleague

2025-122 OFTO Cost Assessment Advisors

Ofgem

This public procurement record has 4 releases in its history.

Award

02 Oct 2026 at 10:29

UK7 - Contract Details Notice
Award

24 Jul 2026 at 14:52

UK6 - Contract Award Notice
TenderUpdate

15 May 2026 at 16:24

UK4 - Tender Notice
Tender

23 Apr 2026 at 14:42

UK4 - Tender Notice
Summary of the contracting process

Ofgem procured cost-assessment and financial consultancy services for its Offshore Transmission Owners (OFTO) team. The work supports Ofgem’s regulatory duties and tender exercises for offshore transmission projects: assessing developer-submitted costs for transmission assets, evaluating bidder submissions and carrying out financial assessments through to project close and appointment of an OFTO. The aim is to test whether asset costs are fair and ensure assets are transferred economically and efficiently, protecting value for consumers. The services are delivered across the United Kingdom. The work combines financial analysis and advisory support with review of offshore transmission projects and their associated tender and transaction processes.

The procurement is complete and the contract has been awarded to Grant Thornton UK Advisory & Tax LLP. Ofgem used an open procedure. The award was made on 24 July 2026 at £2,000,000 gross (£1,666,666.67 excluding VAT); the contract was signed on 16 September 2026 and runs from 16 September 2026 to 9 September 2030. There was one lot. The tender deadline was 22 May 2026, following an extension; the deadline for questions was 14 May 2026. Evaluation weighted technical quality at 65% and price at 35%. Eligibility required legal standing, no applicable exclusion grounds, and suitable financial standing and economic capacity; technical selection requirements were set out in the tender documents. Two bids were received.

For suppliers considering comparable future work for Ofgem, this award shows demand for specialist cost-assessment advice supporting offshore transmission tenders and regulatory decisions. A credible provider needs to assess developer cost data and transmission assets rigorously, evaluate bidder submissions, and provide financial analysis through tender and transaction stages to project close and OFTO appointment. The buyer’s evaluation favoured technical quality over price, so demonstrable expertise, sound analytical methods and the ability to deliver robust, defensible assessments would matter alongside competitive daily rates. Suppliers also need to maintain suitably skilled and experienced staff throughout a multi-year engagement, manage conflicts of interest arising from relationships with OFTOs or their supply chains, and work effectively with third parties whose information and cooperation are needed. SMEs were considered suitable to compete.

How relevant is this notice?

Notice Information

Notice Title

2025-122 OFTO Cost Assessment Advisors

Notice Description

Ofgem is looking to procure the necessary Cost Assessment advisors for the Offshore Transmission Owners (OFTO) team to continue its regulatory duties. Provision of these services will be crucial and without this, Ofgem will be unable to run effective tender processes for the upcoming tender rounds. Ofgem are required to run a tender exercise for all offshore transmission projects that qualify under the Tender Regulations 2015. Provision of Cost Assessment consultancy support services will be crucial to ensure that a robust tender process takes place for upcoming tender rounds and without this, Ofgem will be unable to run an effective tender process. To facilitate a robust tender evaluation process, Ofgem requires the services of a supplier on various aspects of the tender and transaction process - evaluation of bidder submissions, and financial assessment required to bring the project to close/appoint an OFTO. Ofgem are required to undertake a cost assessment review of the OFTO assets for those projects that will be the subject of the tender process. This review is fundamental in determining the cost of building the transmission assets to ensure that those costs stated by the developer fairly reflect what will be transferred and that consumers are receive value for money. With this being the case, data submitted by the project developer must be carefully evaluated to ensure that assets are being transferred in the most economic and efficient manner possible.

Notice Details

Publication & Lifecycle

Open Contracting ID
ocds-h6vhtk-0689c7
Publication Source
Find A Tender Service
Latest Notice
https://www.find-tender.service.gov.uk/Notice/093175-2026
Current Stage
Award
All Stages
Tender, Award

Procurement Classification

Notice Type
UK7 - Contract Details 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

76 - Services related to the oil and gas industry

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

CPV Codes

66171000 - Financial consultancy services

76500000 - Onshore and offshore services

79212100 - Financial auditing services

79412000 - Financial management consultancy services

Notice Value(s)

Tender Value
£1,666,000 £1M-£10M
Lots Value
£1,666,000 £1M-£10M
Awards Value
£1,666,000 £1M-£10M
Contracts Value
£1,666,667 £1M-£10M

Notice Dates

Publication Date
2 Oct 20263 weeks ago
Submission Deadline
22 May 2026Expired
Future Notice Date
Not specified
Award Date
24 Jul 20263 months ago
Contract Period
16 Sep 2026 - 9 Sep 2030 3-4 years
Recurrence
Not specified

Notice Status

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

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
Postcode Area
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

Grant Thornton UK LLP

Further Information

Notice Documents

Open Contracting Data Standard (OCDS)

View full OCDS Record for this contracting process

JSON Markdown

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.

Loading OCDS record...