Published date: 9 February 2026

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


Closing: 10 November 2025, 2pm

Contract summary

Industry

  • Business and management consultancy services - 79410000

Location of contract

West Midlands, London

Value of contract

£1,166,666.67 to £3,500,000

Procurement reference

PROC.0057

Published date

9 February 2026

Closing date

10 November 2025

Closing time

2pm

Contract start date

8 December 2025

Contract end date

7 December 2028

Contract type

Service contract

Procedure type

Call-off from a framework agreement

A mini-competition or direct purchase from a pre-established framework agreement.

Contract is suitable for SMEs?

Yes

Contract is suitable for VCSEs?

No

Description

Awarded using Crown Commercial Service (CCS) Management Consultancy Framework Four (MCF4) (RM6309), Lot 4 Finance.

The Major Projects team is seeking to appoint a panel of up to three Financial Advisers ("Suppliers") to support its work in the delivery of the Major Projects pipeline. Being on the panel does not guarantee any engagements (or Work Packages), but the Major Projects team will seek to procure all financial advice relating to the delivery of new projects and the development of policy from the panel. The requirement may include some work commissioned by the Ofwat element of RAPID.

Background and an overview of the Major Projects pipeline can be found at the following link: A-Major-Projects-Guide-for-Investors-June-2025.pdf

The above document lists all the projects in the pipeline and gives a brief overview of each one. Ofwat has already appointed advisers for some projects (see above), but the vast majority will be procured in the future.

Our requirements
We are seeking expert financial advice in relation to policy development and all projects in the Major Project pipeline. We expect financial advisers to assist with the following:

• Advising on the commercial and regulatory approach proposed by companies on projects, considering the interests of customers, stakeholders and other key parties.
• Review the appointees' VfM analysis.
• Review and advise on project's financial models and analysis.
• Support the overall development of the Major Project programme.
• The Supplier must work with Ofwat and our other advisors to provide financial advice as appropriate.

At each Major Projects stage, we may require the Supplier to provide a short report on the Appointee's submissions and we will agree the scope of the report at the time.

As part of delivering the above scope, we will also require the Supplier to support Ofwat in meetings with the Appointees, their advisors and also Ofwat's other advisors who are supporting Ofwat on the projects.

While each project is separate, we have an objective to develop more standardised processes and arrangements across all projects, where appropriate. By appointing a small number of Suppliers, we expect them to actively contribute to the improvement of processes and efficiencies across the whole pipeline by reducing transaction costs and standardising approaches (e.g. solving problems once).

We will also require the Supplier, from time to time, to support us on general policy issues and this will be discussed with the Supplier at the time.

Award information

Awarded date

5 December 2025

Contract start date

8 December 2025

Contract end date

7 December 2028

Total value of contract

£3,500,000.01

This contract was awarded to 3 suppliers.

Deloitte LLP

Address

1 New Street Square, London EC4A 3HQ

Reference

Companies House number: OC303675

Value of contract

£1,166,666.67

Supplier is SME?

No

Supplier is VCSE?

No

Additional details

Up to £3.5m excl VAT is allocated across the 3 years. The Call-Off Contract value is expected to be spread across up to three Suppliers and can be a range up to £3.5m excl VAT.

Grant Thornton UK Advisory & Tax LLP

Address

8 Finsbury Circus, London EC2M 7EA

Reference

Companies House number: OC454533

Value of contract

£1,166,666.67

Supplier is SME?

Yes

Supplier is VCSE?

No

Additional details

Up to £3.5m excl VAT is allocated across the 3 years. The Call-Off Contract value is expected to be spread across up to three Suppliers and can be a range up to £3.5m excl VAT.

Ernst & Young LLP

Address

1 More London Place, London SE1 2AF

Reference

Companies House number: OC300001

Value of contract

£1,166,666.67

Supplier is SME?

No

Supplier is VCSE?

No

Additional details

Up to £3.5m excl VAT is allocated across the 3 years. The Call-Off Contract value is expected to be spread across up to three Suppliers and can be a range up to £3.5m excl VAT.

About the buyer

Contact name

Lena Cluxton

Address

7 Hill Street
BIRMINGHAM
B54UA
England

Email

Procurement@ofwat.gov.uk