---
title: "LTC Co Economic and Regulatory Regime (ERR) Review and Assurance"
ocid: "ocds-h6vhtk-06e5f2"
canonical_url: "https://d3tenders.com/contract/?ocid=ocds-h6vhtk-06e5f2"
markdown_url: "https://d3tenders.com/contract/ocds-h6vhtk-06e5f2.md"
json_url: "https://d3tenders.com/contract/ocds-h6vhtk-06e5f2.json"
source: "Find A Tender Service"
current_stage: "Award"
buyer: "National Highways Limited"
published: "2026-08-24"
---

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

Buyer: National Highways Limited  
Current stage: Award  
OCID: ocds-h6vhtk-06e5f2

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## Summary

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.

## Notice

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.

## Key Details

| Field | Value |
| --- | --- |
| Publication source | Find A Tender Service |
| Latest notice | https://www.find-tender.service.gov.uk/Notice/080411-2026 |
| 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 |
| All stages | Award |

## Dates

| Field | Value |
| --- | --- |
| Publication date | 24 Aug 2026 |
| Submission deadline | Not specified |
| Future notice date | Not specified |
| Award date | 17 Aug 2026 |
| Contract period | 3 Sep 2026 - 31 Jul 2028 |
| Recurrence | Not specified |

## Values

| Field | Value |
| --- | --- |
| Tender value | Not specified |
| Lots value | Not specified |
| Awards value | £295,000 |
| Contracts value | Not specified |

## Status

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

## Buyer

| Field | Value |
| --- | --- |
| Main buyer | National Highways Limited |
| Locality | BIRMINGHAM |
| Postcode area | Birmingham |
| Postcode | B4 6GA |
| Country | England |
| ITL 1 | TLG West Midlands (England) |
| ITL 2 | TLG3 West Midlands |
| ITL 3 | TLG31 Birmingham |
| Local authority | Birmingham |
| Electoral ward | Ladywood |
| Westminster constituency | Birmingham Ladywood |
| Delivery location | Not specified |

## Supplier

| Field | Value |
| --- | --- |
| Number of suppliers | 1 |
| Supplier names | Oxera Consulting LLP |

## CPV Codes

### Divisions

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

### Codes

- 79410000 - Business and management consultancy services

## Release History

- 24 Aug 2026 at 14:35 - Award - UK6 - Contract Award Notice - https://www.find-tender.service.gov.uk/Notice/080411-2026
- 17 Aug 2026 at 16:30 - Award - UK5 - Transparency Notice - https://www.find-tender.service.gov.uk/Notice/078264-2026

## Documents

- https://www.find-tender.service.gov.uk/Notice/080411-2026
  24th August 2026 - Contract award notice on Find a Tender
- https://www.find-tender.service.gov.uk/Notice/078264-2026
  17th August 2026 - Transparency notice on Find a Tender

## Notice URLs

- https://nationalhighways.co.uk
- https://www.legislation.gov.uk/ukpga/2023/54/contents

## 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-h6vhtk-06e5f2. The underlying structured data is available as OCDS JSON at https://d3tenders.com/contract/ocds-h6vhtk-06e5f2.json.