---
title: "RIIO-ED2 PCFM Financial Model Audit"
ocid: "ocds-b5fd17-bf006c90-aa8c-41b9-b0d2-6e8b54d44415"
canonical_url: "https://d3tenders.com/contract/?ocid=ocds-b5fd17-bf006c90-aa8c-41b9-b0d2-6e8b54d44415"
markdown_url: "https://d3tenders.com/contract/ocds-b5fd17-bf006c90-aa8c-41b9-b0d2-6e8b54d44415.md"
json_url: "https://d3tenders.com/contract/ocds-b5fd17-bf006c90-aa8c-41b9-b0d2-6e8b54d44415.json"
source: "Contracts Finder"
current_stage: "Award"
buyer: "OFGEM"
published: "2022-03-24"
---

# RIIO-ED2 PCFM Financial Model Audit

Buyer: OFGEM  
Current stage: Award  
OCID: ocds-b5fd17-bf006c90-aa8c-41b9-b0d2-6e8b54d44415

[View canonical contract page](https://d3tenders.com/contract/?ocid=ocds-b5fd17-bf006c90-aa8c-41b9-b0d2-6e8b54d44415)  
[Download OCDS JSON](https://d3tenders.com/contract/ocds-b5fd17-bf006c90-aa8c-41b9-b0d2-6e8b54d44415.json)

## Summary

The procurement process titled "RIIO-ED2 PCFM Financial Model Audit" is being conducted by Ofgem, the regulatory authority for the electricity and gas markets in Great Britain. This opportunity falls within the auditing services industry category and is taking place in the United Kingdom. The current procurement stage is the Award phase, with the contract awarded on 24th March 2022, for a total value of £91,000. The contract period is set to commence on 1st April 2022 and will conclude on 31st March 2023.

This tender presents significant opportunities for businesses, particularly those that specialise in financial consultancy and auditing services. Companies with expertise in providing assurance on financial models or related compliance services would be well-suited to compete in this space. Small and medium-sized enterprises (SMEs) are encouraged to engage with this contract, given the nature of the work which may require flexibility and specialised knowledge, enhancing prospects for business growth within the sector.

## Notice

Financial model audit services are required to provide assurance on the RIIO-2 Electricity Distribution Price Control Financial Model (RIIO-ED2 PCFM). The model acts as the official licence instrument for setting revenues for the Distribution Network Operators (DNOs). The audit is essential for providing external stakeholders with confidence in the model and will be an important mitigant against DNOs' appeals to the Competition and Markets Authority (CMA). As such the audit must be carried out by an external consultant.

## Key Details

| Field | Value |
| --- | --- |
| Publication source | Contracts Finder |
| Latest notice | https://www.contractsfinder.service.gov.uk/Notice/f02170e6-4443-4c2a-b54b-a83f0a8a2bb5 |
| Notice type | Award Notice |
| Procurement type | Standard |
| Procurement category | Services |
| Procurement method | Open |
| Procurement method details | Open procedure |
| Tender suitability | SME |
| Awardee scale | Large |
| All stages | Award |

## Dates

| Field | Value |
| --- | --- |
| Publication date | 24 Mar 2022 |
| Submission deadline | 1 Jan 2022 |
| Future notice date | Not specified |
| Award date | 24 Mar 2022 |
| Contract period | 31 Mar 2022 - 31 Mar 2023 |
| Recurrence | Not specified |

## Values

| Field | Value |
| --- | --- |
| Tender value | £91,000 |
| Lots value | Not specified |
| Awards value | £91,000 |
| 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 | GRIDLINES GROUP |

## CPV Codes

### Divisions

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

### Codes

- 66171000 - Financial consultancy services
- 79212000 - Auditing services
- 79212100 - Financial auditing services

## Release History

- 24 Mar 2022 at 17:45 - Award - Award Notice - https://www.contractsfinder.service.gov.uk/Notice/f02170e6-4443-4c2a-b54b-a83f0a8a2bb5

## Documents

- https://www.contractsfinder.service.gov.uk/Notice/f02170e6-4443-4c2a-b54b-a83f0a8a2bb5
  24th March 2022 - Awarded contract notice on Contracts Finder
- https://www.mytenders.co.uk/search/show/search_view.aspx?ID=MAR164062
  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-bf006c90-aa8c-41b9-b0d2-6e8b54d44415. The underlying structured data is available as OCDS JSON at https://d3tenders.com/contract/ocds-b5fd17-bf006c90-aa8c-41b9-b0d2-6e8b54d44415.json.