---
title: "OFTO Policy Review"
ocid: "ocds-b5fd17-962c6504-c6d8-425b-b3a0-607d56b20300"
canonical_url: "https://d3tenders.com/contract/?ocid=ocds-b5fd17-962c6504-c6d8-425b-b3a0-607d56b20300"
markdown_url: "https://d3tenders.com/contract/ocds-b5fd17-962c6504-c6d8-425b-b3a0-607d56b20300.md"
json_url: "https://d3tenders.com/contract/ocds-b5fd17-962c6504-c6d8-425b-b3a0-607d56b20300.json"
source: "Contracts Finder"
current_stage: "Award"
buyer: "OFGEM"
published: "2024-01-18"
---

# OFTO Policy Review

Buyer: OFGEM  
Current stage: Award  
OCID: ocds-b5fd17-962c6504-c6d8-425b-b3a0-607d56b20300

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## Summary

The procurement process for the "OFTO Policy Review" tender, led by Ofgem in London, involves a review of ITT processes to enhance efficiency in the bidding process. The tender, classified under financial management consultancy services, has a contract value of £215,500 in GBP. It follows an open procedure procurement method, with a tender period ending on January 1, 2024, and a contract period from January 18, 2024, to January 17, 2026.

This tender opportunity, suited for businesses in financial consultancy services, can drive growth for SMEs. The procurement stage has reached the award phase, allowing suppliers like Smith Square Partners Llp to contribute.Contracting with Ofgem could provide a platform for firms to showcase expertise and potentially secure future contracts. The awarded contract, with a contract period up to 2026, presents a significant opportunity for successful suppliers to establish long-term partnerships with Ofgem in the financial management sector.

## Notice

The processes for bidding for OFTOs does not always meet the targeted dates in the timetable set out in the ITT. The objective of this process efficiency review is to stand back and examine the processes that have built up in the ITT phase to assess whether there are changes that can be made that are within Ofgem's control which will help drive efficiencies in the ITT bidding process and shorten the length of the subsequent Preferred Bidder to Financial Close stage. Consideration should also be given as to whether an incentive mechanism would be beneficial to drive behaviour further. This is to be structured as 3 workstreams which will run broadly in parallel. The first module will review Ofgem's cost assessment process; the second module, opportunities for greater standardisation of the Sale and Purchase Agreement (SPA); and the third module will develop a cash incentive mechanism that takes account of the findings from the two other modules.

## Key Details

| Field | Value |
| --- | --- |
| Publication source | Contracts Finder |
| Latest notice | https://www.contractsfinder.service.gov.uk/Notice/0c4a5613-341b-4520-acb8-11d0fad61dfa |
| 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 |
| All stages | Award |

## Dates

| Field | Value |
| --- | --- |
| Publication date | 18 Jan 2024 |
| Submission deadline | 1 Jan 2024 |
| Future notice date | Not specified |
| Award date | 17 Jan 2024 |
| Contract period | 18 Jan 2024 - 17 Jan 2026 |
| Recurrence | Not specified |

## Values

| Field | Value |
| --- | --- |
| Tender value | £215,500 |
| Lots value | Not specified |
| Awards value | £215,500 |
| Contracts value | Not specified |

## Status

| Field | Value |
| --- | --- |
| Tender status | Complete |
| Lots status | Not specified |
| Awards status | Active |
| Contracts status | Not specified |

## Buyer

| Field | Value |
| --- | --- |
| Main buyer | OFGEM |
| Locality | LONDON |
| Post town | East London |
| Postcode | E14 4PU |
| Country | England |
| ITL 1 | TLI London |
| ITL 2 | TLI4 Inner London - East |
| ITL 3 | TLI42 Tower Hamlets |
| Local authority | Tower Hamlets |
| Electoral ward | Canary Wharf |
| Westminster constituency | Poplar and Limehouse |
| Delivery location | Not specified |

## Supplier

| Field | Value |
| --- | --- |
| Number of suppliers | 1 |
| Supplier names | SMITH SQUARE PARTNERS |

## CPV Codes

### Divisions

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

### Codes

- 79412000 - Financial management consultancy services

## Release History

- 18 Jan 2024 at 17:45 - Award - Award Notice - https://www.contractsfinder.service.gov.uk/Notice/0c4a5613-341b-4520-acb8-11d0fad61dfa

## Documents

- https://www.contractsfinder.service.gov.uk/Notice/0c4a5613-341b-4520-acb8-11d0fad61dfa
  18th January 2024 - Awarded contract notice on Contracts Finder
- https://www.mytenders.co.uk/search/show/search_view.aspx?ID=JAN167600
  NOTE: To register your interest in this notice and obtain any additional information please visit the myTenders Web Site at the link provided.

## Notice URLs

- http://www.ofgem.gov.uk

## Provenance

This Markdown file is an alternate public rendering of the D3 Tenders contract record. The canonical page is https://d3tenders.com/contract/?ocid=ocds-b5fd17-962c6504-c6d8-425b-b3a0-607d56b20300. The underlying structured data is available as OCDS JSON at https://d3tenders.com/contract/ocds-b5fd17-962c6504-c6d8-425b-b3a0-607d56b20300.json.