Published date: 17 October 2018

Awarded contract - This means that the contract has been awarded to a supplier.


Closing: 16 July 2018

Contract summary

Industry

  • Petroleum products, fuel, electricity and other sources of energy - 09000000

Location of contract

London

Value of contract

£4,598,961

Procurement reference

tender_173303/720326

Published date

17 October 2018

Closing date

16 July 2018

Contract start date

1 October 2018

Contract end date

30 September 2021

Contract type

Supply contract

Procedure type

Open procedure (above threshold)

Any interested supplier may submit a tender in response to an opportunity notice.

This procedure can be used for procurements above the relevant contract value threshold.

Contract is suitable for SMEs?

No

Contract is suitable for VCSEs?

No

Description

The Authority require a contract to include all gas meters, for a 3 year period commencing on the 1.10.2018.The contract is to be based on a 28 day BACs payment terms with no requirement for credit mitigation.
The settlement of the contract is to be based on a minimum +/-20 % annual volume tolerance with a 3 year fixed shape/swing premium. The management fee should also be fixed for the contract duration.
A flexible contract is required to allow the Authority to purchase the commodity costs via OTC (over the counter) pricing through traders at Mitie Energy's Risk Management Team. Options around ability to fix/unfix, purchase at day ahead indices, and reforecast volumes will be required.

More information

Additional text

Total contract values given are for the full contract period, and are based upon estimated costs and volume at the time of contract award, which may be subject to change during the life of the contract.

Award information

Awarded date

9 August 2018

Contract start date

1 October 2018

Contract end date

30 September 2021

Total value of contract

£4,598,961

This contract was awarded to 1 supplier.

Total Gas and Power Ltd

Address

Bridge Gate, 55/57 High Street, Redhill, Surrey RH1 1RX

Reference

None

Supplier is SME?

No

Supplier is VCSE?

No

About the buyer

Address

PO Box 270, Guildhall
London
EC2P 2EJ
England

Email

James.Carter@cityoflondon.gov.uk