---
title: "Financial Advice for Nuclear"
ocid: "ocds-b5fd17-bba5101e-b283-475e-8a19-9aa72f0cd751"
canonical_url: "https://d3tenders.com/contract/?ocid=ocds-b5fd17-bba5101e-b283-475e-8a19-9aa72f0cd751"
markdown_url: "https://d3tenders.com/contract/ocds-b5fd17-bba5101e-b283-475e-8a19-9aa72f0cd751.md"
json_url: "https://d3tenders.com/contract/ocds-b5fd17-bba5101e-b283-475e-8a19-9aa72f0cd751.json"
source: "Contracts Finder"
current_stage: "Award"
buyer: "BUSINESS ENERGY AND INDUSTRIAL STRATEGY"
published: "2021-09-09"
---

# Financial Advice for Nuclear

Buyer: BUSINESS ENERGY AND INDUSTRIAL STRATEGY  
Current stage: Award  
OCID: ocds-b5fd17-bba5101e-b283-475e-8a19-9aa72f0cd751

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## Summary

The Business Energy and Industrial Strategy (BEIS) has completed a tender for "Financial Advice for Nuclear," valued at £6,750,000. This procurement falls under the financial and insurance services category, specifically targeting advisory services associated with the design and delivery of nuclear projects like Sizewell C. The contract period started on 11th December 2017 and will conclude on 10th December 2022, with the procurement method classified as selective, initiated through a framework agreement. It is essential for businesses engaged in financial consultancy and services, particularly those familiar with the nuclear sector, to take note of the contract's execution and its financial implications.

This contract presents a significant opportunity for businesses in the consultancy sector, especially financial advisory firms, to expand their services linked to major nuclear projects. Companies equipped with expertise in financing large-scale infrastructure, particularly within the energy sector, would be well-suited to compete. As the government navigates complex negotiations and strives to meet its carbon budget targets, firms that can provide rapid and reliable advisory services will find themselves positioned favourably in future project bids and collaborations.

## Notice

he original costs for this contract (and related service) awarded in 2017 were historically forecast upon the Wylfa reactor programme. It was envisaged BEIS would then design a generic nuclear RAB model, the structure of which would then be passed to Ofgem to finish and implement. Therefore the exact nature of the required future spend to support other nuclear programmes (such as Sizewell C / SZC) was based on really high level estimate as the nature of those forthcoming programmes was not known at that time. During 2019 - 2020 HMG then had a change in policy direction. Wylfa had ceased to be a live project with the only largescale nuclear project remaining being SZC . At this point HMG did not want to pass lead responsibility to OFGEM to complete and implement. HMG kept the project lead and now has more responsibilities for the entire design (of the structure), negotiation and ongoing implementation. That means HMG and BEIS role is far greater than ever envisaged back in 2017. Therefore the spend has been faster and greater than was anticipated with the supplier PwC, for its financial advisory services. Going forward, any delay of support from PwC would significantly affect HMG's power of negotiation and subsequently affect EDF's confidence in HMG. This would create the risk of EDF possibly cancelling the entire project. Which in turn generates further risks for HMG - failing to deliver Carbon Budget no 6 target and the Prime Ministers 10 point plan. Due to the complex nature of the programme, the initial allocated budget of PS4.5M since 2017 is being consumed faster than anticipated. The additional spend increase of PS2,250,000 has been added to the contract

## Key Details

| Field | Value |
| --- | --- |
| Publication source | Contracts Finder |
| Latest notice | https://www.contractsfinder.service.gov.uk/Notice/ad0b5b97-4cbd-41b4-84c2-654a00bc4e8b |
| Notice type | Award Notice |
| Procurement type | Framework |
| Procurement category | Services |
| Procurement method | Selective |
| Procurement method details | Call-off from a framework agreement |
| Tender suitability | Not specified |
| Awardee scale | Large |
| All stages | Award |

## Dates

| Field | Value |
| --- | --- |
| Publication date | 9 Sep 2021 |
| Submission deadline | 10 Dec 2017 |
| Future notice date | Not specified |
| Award date | 30 Nov 2017 |
| Contract period | 11 Dec 2017 - 10 Dec 2022 |
| Recurrence | Not specified |

## Values

| Field | Value |
| --- | --- |
| Tender value | £6,750,000 |
| Lots value | Not specified |
| Awards value | £11,250,000 |
| 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 | BUSINESS ENERGY AND INDUSTRIAL STRATEGY |
| Locality | LONDON |
| Post town | South West London |
| Postcode | SW1H 0ET |
| Country | England |
| ITL 1 | TLI London |
| ITL 2 | TLI3 Inner London - West |
| ITL 3 | TLI35 Westminster and City of London |
| Local authority | Westminster |
| Electoral ward | St James's |
| Westminster constituency | Cities of London and Westminster |
| Delivery location | TLI London |

## Supplier

| Field | Value |
| --- | --- |
| Number of suppliers | 1 |
| Supplier names | PRICEWATERHOUSECOOPERS |

## CPV Codes

### Divisions

- 66 - Financial and insurance services

### Codes

- 66000000 - Financial and insurance services

## Release History

- 9 Sep 2021 at 06:44 - Award - Award Notice - https://www.contractsfinder.service.gov.uk/Notice/ad0b5b97-4cbd-41b4-84c2-654a00bc4e8b
- 25 Jan 2018 at 15:58 - AwardUpdate - Award Notice - https://www.contractsfinder.service.gov.uk/Notice/03149831-aea6-4230-91a6-402056904893
- 17 Jan 2018 at 16:21 - Award - Award Notice - https://www.contractsfinder.service.gov.uk/Notice/03149831-aea6-4230-91a6-402056904893

## Documents

- https://www.contractsfinder.service.gov.uk/Notice/ad0b5b97-4cbd-41b4-84c2-654a00bc4e8b
  9th September 2021 - Awarded contract notice on Contracts Finder
- https://www.contractsfinder.service.gov.uk/Notice/03149831-aea6-4230-91a6-402056904893
  25th January 2018 - Awarded contract notice on Contracts Finder

## 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-bba5101e-b283-475e-8a19-9aa72f0cd751. The underlying structured data is available as OCDS JSON at https://d3tenders.com/contract/ocds-b5fd17-bba5101e-b283-475e-8a19-9aa72f0cd751.json.