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LTC Co Economic and Regulatory Regime (ERR) Review and Assurance

National Highways Limited

This public procurement record has 2 releases in its history.

Award

24 Aug 2026 at 14:35

UK6 - Contract Award Notice
Award

17 Aug 2026 at 16:30

UK5 - Transparency Notice
Summary of the contracting process

National Highways Limited procured business and management consultancy services for the Lower Thames Crossing (LTC) Company Economic and Regulatory Regime (ERR) Review and Assurance. The work provides experience-based consulting, insight, guidance and critical review of plans for a Regulated Asset Base (RAB) approach to project finance. It concerns economic and regulatory advice supporting the project’s finance, programme and risk management. Delivery is for National Highways Limited, based in Birmingham, in connection with the Lower Thames Crossing programme. The requirement suits consultancies with specialist knowledge of infrastructure regulation, project finance, regulated asset bases and the economic and commercial considerations affecting major transport projects. It was classified as business and management consultancy services.

The procurement is complete and was awarded on 17 August 2026. National Highways used a direct award under clause 6 of Schedule 5 of the Procurement Act 2023, on the basis that technical reasons meant only one supplier could provide the required services and there were no reasonable alternatives. The single lot was awarded to Oxera Consulting LLP. The award value is £295,000 excluding VAT and £354,000 including VAT. The contract period runs from 3 September 2026 to 31 July 2028, with signature scheduled for 3 September 2026. The procurement was evaluated through the requirement for relevant experience and continuity of specialist advisory knowledge. The award is active and the tender status is complete.

This procurement indicates demand from National Highways for specialist economic and regulatory advisers supporting major infrastructure finance. A credible future competitor would need demonstrable experience of regulated asset base models, project finance, regulatory regimes and assurance of commercial plans. It would also need to provide critical review and practical guidance on programme, risk and stakeholder issues, rather than general management consultancy alone. The buyer’s stated rationale highlights the importance of detailed knowledge of the project’s regulatory framework, key risks and stakeholder expectations, continuity of advice, and consistent outputs. Firms should therefore be able to evidence comparable work on complex transport or other regulated infrastructure programmes, retain senior subject-matter expertise, and take over an established advisory role without creating duplication, delay or loss of institutional knowledge.

How relevant is this notice?

Notice Information

Notice Title

LTC Co Economic and Regulatory Regime (ERR) Review and Assurance

Notice Description

Experience-based consulting to provide insight, guidance and critical review of plans for the Regulated Asset Base (RAB) approach to project finance.

Procurement Information

Clause 6 of Schedule 5 of PA2023 is applicable as the following conditions are met in relation to the public contract: (a) due to an absence of competition for technical reasons, only a particular supplier can supply the goods, services or works required, and (b) there are no reasonable alternatives to those goods, services or works. Retaining the existing regulatory advisors, on the project provides clear commercial, programme, and risk management benefits: The current advisors have developed a detailed understanding of the project's regulatory framework, key risks, and stakeholder expectations. Replacing them would result in a loss of knowledge, requiring significant time and cost to onboard new advisors. Introducing new advisors at this stage would create avoidable delays while they familiarise themselves with the project, potentially impacting critical milestones. Maintaining the existing team supports continuity and protects the programme timeline. Transitioning to new advisors would incur duplication of work, additional onboarding costs, and inefficiencies during the handover period. Retention avoids these unnecessary expenditures. Changing advisors risks inconsistency in outputs and could undermine prior work or require revalidation.

Notice Details

Publication & Lifecycle

Open Contracting ID
ocds-h6vhtk-06e5f2
Publication Source
Find A Tender Service
Latest Notice
https://www.find-tender.service.gov.uk/Notice/080411-2026
Current Stage
Award
All Stages
Award

Procurement Classification

Notice Type
UK6 - Contract Award Notice
Procurement Type
Standard
Procurement Category
Services
Procurement Method
Direct
Procurement Method Details
Direct award
Tender Suitability
SME
Awardee Scale
SME

Common Procurement Vocabulary (CPV)

CPV Divisions

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

CPV Codes

79410000 - Business and management consultancy services

Notice Value(s)

Tender Value
Not specified
Lots Value
Not specified
Awards Value
£295,000 £100K-£500K
Contracts Value
Not specified

Notice Dates

Publication Date
24 Aug 20262 days ago
Submission Deadline
Not specified
Future Notice Date
Not specified
Award Date
17 Aug 20261 weeks ago
Contract Period
3 Sep 2026 - 31 Jul 2028 1-2 years
Recurrence
Not specified

Notice Status

Tender Status
Complete
Lots Status
Complete
Awards Status
Active
Contracts Status
Not Specified

Buyer & Supplier

Contracting Authority (Buyer)

Main Buyer
National Highways Limited
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
B4 6GA
Postcode Area
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
Not specified
Local Authority
Birmingham
Electoral Ward
Ladywood
Westminster Constituency
Birmingham Ladywood

Supplier Information

Number of Suppliers
1
Supplier Name

Oxera Consulting LLP

Further Information

Notice Documents

Open Contracting Data Standard (OCDS)

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