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Published 20 Nov 2024, 15:08 GMT

Official UK procurement notice

Financial Advisor for GBN / DESNZ

Official notice

Authority: DESNZ & DSIT Group Commercial

Services
Sectors: Financial and insurance services (66) Delivery: UK
Awarded value£29,600,0002 contracts · exc. VAT
Awarded 30 May 2023
Awarded to Deloitte, Delottie LLP2 awards
Contract term 4 yrsends 29 May 2027 · starts 30 May 2023

What is being bought

Published requirement description

No description was published on the notice. See the official documents.

CPV: Financial consultancy services

The lotProcurement structure

single lot · no lot value published
Lot #1Great British Nuclear (GBN) Financial Advisor 4 yrs

This is a modification to an existing contract between the Department for Energy Security and Net Zero and Deloitte LLP.

The scope of the contract is for the provision of financial advisory services to the DESNZ GBN Sponsorship and Policy team.

Additional services have become necessary to enable continued access to the contract services until the conclusion of the GBN Small Modular Reactor Technology Selection Process.

The modification is composed of an uplift in the value of the contract of £2,600,000 under Regulation 72 (1) (b) and 72 (2) of the Public Contracts Regulations 2015.

Contract period: 30 May 2023 – 29 May 2027 (4 yrs)
Delivery: UK

Procedure terms & legal framework

From the official record
Legal basis
CELEX · 32014L0024 Public Contracts Regulations 2015 (Directive 2014/24/EU)
Procurement category
Services
Notice status
Awarded
Procurement threshold
Unspecified in notice
Regulatory regime
Standard
Commercial structure
Stand-alone contract (no framework)
Competition type
Competitive procedure
GPA / WTO covered
Unspecified in notice
Recurring procurement
Unspecified in notice
First published
20 Nov 2024, 15:08 GMT
Last source update
30 Jun 2025, 12:52 BST
FTS notice number
2025/S 000-036076
Classification (CPV)
Financial consultancy services
Delivery area
UK
Official registry OCID
ocds-h6vhtk-04bd5b Find a Tender

How it was run

Official notice
Submission deadline
—

Timeline

30 May 2023 → 30 Jun 2025 · 2 dates
  1. Contract starts
    30 May 2023, 00:00 BST
  2. Notice published
    30 Jun 2025, 12:52 BST

Commercial outcome & contract awards

Published awards, contracts and bid statistics, not a forecast
Awards 2
Awarded value £29,600,0002 contracts exc. VAT
Contracts signed 2latest 30 May 2023
Awarded toValueDateStatus
Deloitte——Awarded
Deloitte, Delottie LLPjoint awardFinancial Advisor for GBN——Awarded

Contracts

  • Financial Advisor for GBN / DESNZ · Deloitte

    Signed
    30 May 2023
    Value
    £16,100,000
    Period
    30 May 2023 – 29 May 2027
    Status
    active
    • Change Original award (30/05/2023-29/05/2027 + an optional 12-month extension to 29/05/2028). Contract value: £9,000,000 Modification one (29/07/2024): This modification was actioned to include two special terms into the contract. There were no amendments made to the duration or the value of the contract. Modification two (29/10/2024): £4,500,000 (excl. VAT). Modified contract value: £13,500,000. DESNZ amended the contract to allow GBN and DESNZ to continue to access services to facilitate delivery of the SMR Technology Selection Process. Modification three (06/06/2025): £2,600,000 (excl. VAT). Modified contract value: £16,100,000. DESNZ amended the contract to implement several changes, including an uplift in the value to enable continued utilisation of the contracted services until award of the GBN SMR TSP. The variation also seeks to clarify that GBN is not a party to the contract as of 01/04/2025 and amends the scope of the contract to include the latest work package between the Buyer and Supplier. Finally, the variation reverts to the original wording on indexation within the contract., Need for additional works, services or supplies by the original contractor/concessionaire: Additional services have become necessary to enabled continued access to the contract services and avoid a gap in service until the conclusion of the GBN Small Modular Reactor Technology Selection Process. A change of contractor cannot be made for economic and technical reasons because the contractor's deep understanding of DESNZ's objectives, GBN, the SMR TSP and DESNZ workstreams cannot be delivered by another supplier in the required timescales. Likewise, a replacement contractor would require several months to be fully onboarded onto the project, which would cause considerable inconvenience and delays to the SMR TSP, while duplicating costs amidst the dual running of two financial advisors.

  • Financial Advisor for GBN · Deloitte, Delottie LLP

    Signed
    30 May 2023
    Value
    £13,500,000
    Period
    30 May 2023 – 29 May 2027
    Status
    active
    • Change This Contract is to be varied as follows: increase the total value by £4,500,000 under PCR15 Reg 72 (b) to allow GBN to continue to access services under the contract until the contract expiry date., Need for additional works, services or supplies by the original contractor/concessionaire: GBN has an ongoing need for financial advisory services to support multiple workstreams. Continuity of financial advice is a key dependency, changing supplier at this stage would present risk of delay and increased costs.

Contracting authority & participating public bodies

DESNZ & DSIT Group Commercial

Contracting authority 3-8 Whitehall Place, London, UK, SW1A 2EGContact name, email

Dispute resolution & review bodies

  • N/AReview body N/A

Bidders & participating suppliers

2 commercial parties on the notice
  • Deloitte LLPAwarded supplier 1 New Street Square, London, UK, EC4A 3HQ
  • Delottie LLPAwarded supplier 1 New Street Square, London, UK, EC4A 3HQ

Official documents & specifications

Official links; attachments are not copied

No document links were published on the notice.