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| Source: | Contracts Finder |
| Notice Type: | Award notice |
| Buyer: | PROACTIS TENDERS LIMITED MYT |
| Main Category: | Services |
| Procurement Method: | Open procedure (above threshold) |
| Tender Status: | Closed |
Pipeline status
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Application Deadline
1 November 2023
Closed
Estimated Value
£100,000
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| £100,000 |
| Release Date: | 23 January 2024 |
| Application Deadline: | 1 November 2023 |
| Contract Start Date: | 21 December 2023 |
| Contract End Date: | 20 December 2024 |
| Contract Duration: | 1.0 years |
| Procurement ID (OCID): | ocds-b5fd17-7bc8bb91-c948-42e5-8c0f-4ff8531ee0c7 |
| Notice Reference: | 085244ba-10ff-40eb-aa04-1fabef532f4b-714224 |
View Original Notice
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Awarded to
| Award value: | £100,000 |
| Award decision date: | 19 December 2023 |
| Award status: | Active |
Ofgem require consultants to conduct work related to the Revenue Term policy for the Offshore Transmission Owner (OFTO) Regime which has evolved over a series of tender rounds. Prior to Tender Round 6 TR6, the policy was a ~ 20-year Tender Revenue Stream (TRS). Since TR6, the revenue term has increased to ~ 25 years (the exact term can vary project to project). There has been a number of considerations that have impacted Ofgem's choice of the appropriate revenue term policy for OFTO, notably: the expected life of offshore windfarms; the expected technical life of OFTO assets; precedent of the revenue term in other contexts (e.g. Private Finance Initiative); the attractiveness of different revenue terms to different financing solutions. Ofgem required a study to be created that reviewed the impact of moving to a 30-year (or longer) TRS.