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Ofgem 2025-011 Benchmarking Services for OFTO Tender Rounds 10-14

The OFTO team requires a benchmarking advisor to provide support on OFTO transactions and ensure that the most competitive pricing of any financial instrument is achieved at financial close. The advisor will need to demonstrate that a clear and transparent process is followed in arriving at this pricing. They will also ensure that the terms of financing of the three projects within Tender Round 10 (TR10), one project in Tender Round 11 (TR11), one project in Tender Round 12 (TR12) and three projects in Tender Round 13 (TR13) are favourable for consumers. Ofgem do plan on extending this work to Tender Round 14 (TR14) but the scope of this work is not yet known. The supplier shall provide expert advice on the hedging process up to and at Financial Close (FC) on TR10, TR11, TR12, TR13 and TR14. The scope of work is as follows: * Review the structure of the interest rate and inflation hedging profiles and calculations and confirm that this is an acceptable structure or alternatively provide review of the structuring of underlying GILT for pricing any public bond. * Provide indicative market pricing/updated pricing on all hedging and underlying GILT on request to ensure the most competitive rates are achieved. * Proactive alerts on material market movements which may impact the pricing, including forewarning of any market activity which may create volatility and advise on how to manage this. * Agree hedge term sheets/model outputs with the hedge providers where necessary. * Provide/review the proposed execution protocol for the required hedging and/or bond issuance and negotiate this protocol with the hedge bank(s)/providers as necessary. * Undertake offline benchmark pricing exercises to establish mid-market levels and ensure pricing is agreed as a margin over mid-level. * Identify any anomalies which may indicate additional margins for the hedge providers. * Coordinate dry run pricing leading up to the FC and manage a series of 'dry runs' with all relevant parties, including but not limited to Ofgem and its financial adviser(s)plus the FC execution call. * Advisors are also required to liaise directly with Ofgem on any issues identified.

Katy Reed

Published 3 days ago

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LOCAL AREA ENERGY PLAN FOR NORTH NORTHAMPTONSHIRE

The purpose of the commission is to advance the Net Zero goals and ambitions of North Northamptonshire. North Northamptonshire Council (NNC) are looking to appoint a suitably qualified consultant to produce a Local Area Energy Plan (LAEP) for North Northants. The LAEP will be an integral part of the Roadmap to Net Zero Action Plan and new Local Plan for the North Northants area. This energy strategy is critical as it will underpin the Council's climate emergency response and act as a framework to inform policy, planning, investment, and wider collaboration with key stakeholders to deliver Net Zero targets, including through the Big50 initiative. The LAEP should include a comprehensive emissions assessment of the built environment (all categories of domestic, non-domestic, commercial, and industrial buildings) and relevant aspects of the transport sector; science-based targets for emissions reduction, to include interim milestones and sector-specific targets. This includes both existing and planned development and other proposals. It will integrate insights from the North Northamptonshire to Net Zero (NN2NZ) project and the Local Plan evidence base and should be produced in conjunction with key stakeholders from the energy sector. NNC has procured baseline Net Zero data from the Energy System Catapult, the successful Supplier will be expected to use this data which pertains to stages 1-3 of the LAEP. Funding of up to £85,000 is available to support the creation of the LAEP, including stakeholder engagement. The contract will comprise an eight-month delivery programme.

Katy Reed

Published 5 days ago

Open

LOCAL AREA ENERGY PLAN FOR NORTH NORTHAMPTONSHIRE

The purpose of the commission is to advance the Net Zero goals and ambitions of North Northamptonshire. North Northamptonshire Council (NNC) are looking to appoint a suitably qualified consultant to produce a Local Area Energy Plan (LAEP) for North Northants. The LAEP will be an integral part of the Roadmap to Net Zero Action Plan and new Local Plan for the North Northants area. This energy strategy is critical as it will underpin the Council's climate emergency response and act as a framework to inform policy, planning, investment, and wider collaboration with key stakeholders to deliver Net Zero targets, including through the Big50 initiative. The LAEP should include a comprehensive emissions assessment of the built environment (all categories of domestic, non-domestic, commercial, and industrial buildings) and relevant aspects of the transport sector; science-based targets for emissions reduction, to include interim milestones and sector-specific targets. This includes both existing and planned development and other proposals. It will integrate insights from the North Northamptonshire to Net Zero (NN2NZ) project and the Local Plan evidence base and should be produced in conjunction with key stakeholders from the energy sector. NNC has procured baseline Net Zero data from the Energy System Catapult, the successful Supplier will be expected to use this data which pertains to stages 1-3 of the LAEP. Funding of up to £85,000 is available to support the creation of the LAEP, including stakeholder engagement. The contract will comprise an eight-month delivery programme.

Katy Reed

Published 1 week ago

DRHI Statistical and Targeted Site Audits

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Ofgem 2025-011 Benchmarking Services for OFTO Tender Rounds 10-14

LOCAL AREA ENERGY PLAN FOR NORTH NORTHAMPTONSHIRE

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