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2025-122- Cost Assessment Advisors to OFTO team for Tender and Policy

Ofgem

This public procurement record has 3 releases in its history.

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 financial and cost-assessment consultancy for its Offshore Transmission Owners (OFTO) team. The services support regulatory tender and policy work for offshore transmission projects, including evaluating bidder submissions, assessing project finances and reviewing the cost of transmission assets before an OFTO is appointed. The supplier is expected to test whether developer-submitted asset costs are economic, efficient and provide value for consumers, while supporting tender evaluation and transaction close. This is a UK-wide services requirement covering offshore and onshore transmission activity. The work falls within financial consultancy, auditing and financial management consultancy, including financial transaction support. It is relevant to firms advising on regulated infrastructure, major capital projects, transmission assets, financial assessments, audits or public-sector tender processes.

The procurement has been awarded through a single completed lot following an open procedure. Ofgem selected Grant Thornton UK Advisory & Tax LLP on 24 July 2026, subject to a standstill period ending 5 August 2026; the scheduled contract signature date is 7 August 2026. The award is valued at £1,666,000 excluding VAT and £2,000,000 including VAT. The awarded contract period is 10 August 2026 to 9 August 2030. Tender submissions closed on 22 May 2026 at 17:00, following an enquiry deadline of 14 May 2026 at 12:00. Evaluation weighted technical quality at 65% and commercial price at 35%. Participation required legal standing, financial and economic capacity, and technical capability; the lot was identified as suitable for SMEs. Two final-stage bids were received.

For a future requirement of this kind, credible competitors would need specialist financial consultancy and audit capability applied to regulated offshore transmission and major infrastructure. Relevant experience would include assessing developer cost submissions, valuing or reviewing transmission assets, testing economic efficiency, evaluating bidder finances and supporting transactions through to appointment or close. Firms should be able to provide suitably skilled resources consistently across a multi-year engagement, with capacity to respond to tender rounds and detailed project information. Strong evidence of technical quality would matter more than price alone, given the quality-led evaluation. Suppliers would also need robust conflict-of-interest controls covering OFTOs, developers and supply chains, effective information governance, clear reporting and performance management, and financial standing sufficient to deliver work for a public regulator.

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Notice Information

Notice Title

2025-122- Cost Assessment Advisors to OFTO team for Tender and Policy

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/070373-2026
Current Stage
Award
All Stages
Tender, Award

Procurement Classification

Notice Type
UK6 - Contract 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

76 - Services related to the oil and gas industry

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

CPV Codes

66170000 - Financial consultancy, financial transaction processing and clearing-house services

66171000 - Financial consultancy services

76500000 - Onshore and offshore services

79212000 - Auditing 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
Not specified

Notice Dates

Publication Date
24 Jul 20261 months ago
Submission Deadline
22 May 2026Expired
Future Notice Date
Not specified
Award Date
24 Jul 20261 months ago
Contract Period
10 Aug 2026 - 9 Aug 2030 4-5 years
Recurrence
Not specified

Notice Status

Tender Status
Complete
Lots Status
Complete
Awards Status
Pending
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
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 Advisory & Tax LLP

Further Information

Notice Documents

Open Contracting Data Standard (OCDS)

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