Electricity (HH and NHH) Flexible Purchase
City of London Corporation · London
Key facts
- Contract value
- £35,097,027
- 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 | £35,097,027 |
Description
The Authority require a contract to include both the Half Hourly and non-Half Hourly meters, for a 3 year period commencing on the 1.10.2018 and 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 fee. 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. The Authority have plans in the future to source electricity via third party renewable generators and require a supplier who can show experience of the ability to provide contract structures that will allow the renewable energy, and other embedded benefits to be sleeved into the supply agreement; in addition to the Authorities requirements around Power Purchase Agreements (PPAs), they also require a supplier who can provide them with REGO (Renewable Energy Guarantee of Origin) backed renewable energy from the start of the contract, and to be able to reduce the percentage of REGOs throughout the agreement if the Authority choose to sleeve these in from a PPA at a later stage.
Additional information: Total contract values given are for the full contract period, and are based upon estimated costs and volume atthe time of contract award, which may be subject to change during the lift of the contract.
Categories (CPV)
- 09000000 Petroleum products, fuel, electricity and other sources of energy
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