---
title: "Financial Adviser for Offshore Transmission TR12"
ocid: "ocds-b5fd17-be9764db-0eb6-4550-9df0-d9f7b25adf71"
canonical_url: "https://d3tenders.com/contract/?ocid=ocds-b5fd17-be9764db-0eb6-4550-9df0-d9f7b25adf71"
markdown_url: "https://d3tenders.com/contract/ocds-b5fd17-be9764db-0eb6-4550-9df0-d9f7b25adf71.md"
json_url: "https://d3tenders.com/contract/ocds-b5fd17-be9764db-0eb6-4550-9df0-d9f7b25adf71.json"
source: "Contracts Finder"
current_stage: "Award"
buyer: "OFGEM"
published: "2025-02-19"
---

# Financial Adviser for Offshore Transmission TR12

Buyer: OFGEM  
Current stage: Award  
OCID: ocds-b5fd17-be9764db-0eb6-4550-9df0-d9f7b25adf71

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## Summary

Ofgem has completed the procurement process for a "Financial Adviser for Offshore Transmission TR12," classified under CPV code 66170000, which pertains to financial consultancy, financial transaction processing, and clearing-house services. The contract was awarded on 12th February 2025, with the procurement stage identified as 'Award.' This opportunity was an open procedure tender, reflecting its wide competitive nature. The contract, valued at £870,000, commenced on 13th February 2025 and is set to conclude on 12th October 2028. The supplier for this contract is Smith Square Partners, and the services will be delivered across multiple regions including the British Overseas Territories, Channel Islands, Europe, Isle of Man, rest of the world, and United Kingdom. The procurement aimed to secure financial consultancy support to assist Ofgem in the robust execution of Tender Round 12 (TR12) for offshore transmission projects.

This tender represents a significant opportunity for businesses in the financial consultancy sector to contribute to the strategic operations of Ofgem, specifically in the realm of offshore transmission projects. Firms that specialise in market capacity analysis, financial modelling, and advisory services on financial parameters will find this contract particularly suited to their expertise. Small and medium-sized enterprises (SMEs) are noted to be particularly suitable candidates for this opportunity, highlighting the inclusiveness of the procurement process. Engaging in this tender can help businesses establish or strengthen their presence in the energy sector, offering long-term, financially valuable engagements. The comprehensive consultancy role also allows for significant input in shaping major industrial projects, paving the way for business growth through high-profile, impactful opportunities.

## Notice

Ofgem is required to run a tender exercise for all offshore transmission projects that qualify under the OFTO Tender Regulations 20151. The next offshore tender round - Tender Round 12 (TR12) - Ofgem is launching in February 2025. Provision of financial consultancy support services will be crucial to ensuring that a robust tender process takes place for TR12 and without this, Ofgem will be unable to run an effective tender process for this tender round. To facilitate a robust tender evaluation process, Ofgem requires the services of a supplier on various aspects of the tender and transaction process. This will include advice and support to Ofgem on areas such as market capacity, existing funding models and options, key financial parameters to be reflected in the process (e.g. indexation policy), input to the design and content of tender questionnaire criteria and documentation, evaluation of bidder submissions, as well as various aspects of financial assessment required to bring the project to close/appoint an Offshore Electricity Transmission (OFTO). Ofgem is required to undertake a cost assessment review of the OFTO assets for those projects that will be the subject of the tender process. Ofgem will review data provided by the relevant project developer in order to assess what the economic and efficient costs of developing and constructing the transmission assets are (once again, with this requirement being set out in Tender Regulations 2015). This process has three primary stages of review: 1 the Initial transfer Value; 2 the Indicative Transfer Value (ITV) and; 3 the Final Transfer Value (FTV).

## Key Details

| Field | Value |
| --- | --- |
| Publication source | Contracts Finder |
| Latest notice | https://www.contractsfinder.service.gov.uk/Notice/f346e465-dfee-4f3a-92f8-a083daf65951 |
| 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 | 19 Feb 2025 |
| Submission deadline | 1 Jan 2025 |
| Future notice date | Not specified |
| Award date | 12 Feb 2025 |
| Contract period | 13 Feb 2025 - 12 Oct 2028 |
| Recurrence | Not specified |

## Values

| Field | Value |
| --- | --- |
| Tender value | £870,000 |
| Lots value | Not specified |
| Awards value | £870,000 |
| 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 | 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

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

### Codes

- 66170000 - Financial consultancy, financial transaction processing and clearing-house services
- 66171000 - Financial consultancy services
- 79412000 - Financial management consultancy services

## Release History

- 19 Feb 2025 at 17:45 - Award - Award Notice - https://www.contractsfinder.service.gov.uk/Notice/f346e465-dfee-4f3a-92f8-a083daf65951

## Documents

- https://www.contractsfinder.service.gov.uk/Notice/f346e465-dfee-4f3a-92f8-a083daf65951
  19th February 2025 - Awarded contract notice on Contracts Finder
- https://www.mytenders.co.uk/search/show/search_view.aspx?ID=FEB169412
  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-be9764db-0eb6-4550-9df0-d9f7b25adf71. The underlying structured data is available as OCDS JSON at https://d3tenders.com/contract/ocds-b5fd17-be9764db-0eb6-4550-9df0-d9f7b25adf71.json.