Published date: 19 February 2025

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


Closing: 1 January 2025, 12am

Contract summary

Industry

  • Insurance services - 66510000

  • Insurance brokerage services - 66518100

  • Insurance consultancy services - 66519310

Location of contract

Any region

Value of contract

£32,400

Procurement reference

MT233841

Published date

19 February 2025

Closing date

1 January 2025

Closing time

12am

Contract start date

10 February 2025

Contract end date

9 February 2029

Contract type

Service contract

Procedure type

Open procedure

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

Contract is suitable for SMEs?

Yes

Contract is suitable for VCSEs?

No

Description

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 insurance 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. The supplier will provide insurance advice and support to Ofgem to ensure that the necessary insurance requirements that Offshore Electricity Transmission (OFTO) bidders are required to meet are reflected in the design and content of tender questionnaire criteria and documentation, are robustly evaluated in bidder submissions, and any insurance matters are managed and dealt with appropriately.
The primary responsibility of the supplier will be to advise and assist Ofgem in evaluating the insurance related aspects of bid submissions to ensure that the appropriate bidder can be appointed successfully. This will include advice on the suitability of the bidders' insurance strategies and associated financial and commercial arrangements; and assessment of prevailing insurance market conditions and wider market conditions which may be comparable.
Support with preparatory work in advance of TR12, up to and including the appointment of Preferred Bidder (PB) for the project (with the possibility of some work required for enabling Licence Grant (LG) and Financial Close (FC)) is expected.
The supplier will work collaboratively with financial and technical advisers in the EPQ (Enhanced Pre-Qualification) and ITT (Invitation to Tender) stages. The financial adviser will be fulfilling the role of Lead Evaluator for both the stages, acting as a single point of contact for Ofgem, bringing together all of the evaluation sections/reports into final integrated reports.

More information

Links

Award information

Awarded date

7 February 2025

Contract start date

10 February 2025

Contract end date

9 February 2029

Total value of contract

£32,400

This contract was awarded to 1 supplier.

Willis Limited

Address

51 Lime Street, , London

Reference

Companies House number: 00181116

About the buyer

Contact name

Lynsey Gordon

Address

10 South Colonnade
Canary Wharf
London
E14 4PU
England

Telephone

+44 2079017000

Email

procurement2@ofgem.gov.uk

Website

http://www.ofgem.gov.uk