Gas Flexible Purchase
City of London Corporation · London
Key facts
- Contract value
- £4,598,961
- Awarded
- 08 Aug 2018
- Contract starts
- 30 Sep 2018
- Contract ends
- 30 Sep 2021
- Procedure
- Open procedure (above threshold)
- Buyer type
- Local government
Awarded to
| Supplier | Value |
|---|---|
| Total Gas & Power Ltd | £4,598,961 |
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.
Additional information: 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.
Categories (CPV)
- 09000000 Petroleum products, fuel, electricity and other sources of energy
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