Official UK procurement notice
Financial Advisory Services for Sizewell C
Authority: Department for Energy Security & Net Zero (Central government)·Consortium: 2 public authorities
What is being bought
Published requirement descriptionNo description was published on the notice. See the official documents.
CPV: Financial consultancy services
The lotProcurement structure
single lot · no lot value publishedLot #1This is a modification to an existing contract between the Department for Energy…
This is a modification to an existing contract between the Department for Energy Security and Net Zero and Barclays Bank Plc.
The scope of the contract is for the provision of financial advisory services to assess, input, and challenge the design, management and execution of the SZC capital structure and capital raise process; and to provide advice in relation to key judgements and decisions that will be required from HMG in order for it to execute its policy objectives and make sound investment decisions that represent Value for Money for the taxpayer.
Additional services have become necessary due to extended project timelines. The supplier's services are essential to the completion of the capital raise process and progression of the Sizewell C programme.
The variation is composed of a 7-month extension in time and a 30% extension in value under Regulation 72 (1) (b) and 72 (2) of the Public Contracts Regulations 2015.
Original award value: £5,000,000 (excl. VAT). 11/05/2022-10/05/2024 (+ an optional 12-month extension)
Modification one: £2,500,000 (excl. VAT) + 12-month extension. 11/05/2022-10/05/2025. Modified contract value: £7,500,000.
Modification two: £1,500,000 (excl. VAT) + 7-month extension. 11/05/2022-10/12/2025. Modified contract value: £9,000,000.
**Please note that this notice was originally published on 30/05/2025 (Notice identifier: 2025/S 000-028653). However, there was an error in the field titled 'Total contract value after the modifications', which mistakenly suggested that the total contract value post-modification was £900,000. This notice will correct that to £9,000,000.00.**
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
- 30 May 2025, 09:44 BST
- Last source update
- 2 Jun 2025, 11:46 BST
- FTS notice number
2025/S 000-029098- Classification (CPV)
- Delivery area
- Official registry OCID
ocds-h6vhtk-052953Find a Tender
How it was run
Official notice- Submission deadline
- —
Timeline
11 May 2022 → 2 Jun 2025 · 2 dates- Contract starts11 May 2022, 00:00 BST
- Notice published2 Jun 2025, 11:46 BST
Notice history
1 event · 2 releases on Find a Tender- Buyer details updated2 Jun 2025, 11:46 BST
Commercial outcome & contract awards
Published awards, contracts and bid statistics, not a forecast| Awarded to | Value | Date | Status |
|---|---|---|---|
| Barclays Bank PLC | £900,000 †same award published again · counted once | — | Awarded |
| Barclays Bank PLC | £9,000,000 † | — | Awarded |
Contracts
Financial Advisory Services for Sizewell C · Barclays Bank PLC
- Signed
- 11 May 2022
- Value
- £900,000
- Period
- 11 May 2022 – 10 Dec 2025
- Status
- active
- Change Original award value (11/05/2022): £5,000,000 (excl. VAT). End date: 10/05/2024 (+ optional 12-month extension). Modification one (16/10/2023): £2,500,000 (excl. VAT) + 12-month extension. New end date: 10/05/2025. Modified contract value: £7,500,000. DESNZ amended the contract to increase the scope of Barclays' work and responsibilities in relation to the capital raise process. The variation included a 50% cost increase of £2,500,000 and time extension of 12 months to 10/05/2025. Modification two (07/05/2025): £1,500,000 (excl. VAT) + 7-month extension. New end date: 10/12/2025. Modified contract value: £9,000,000. The scope of the contract has been amended to include the activities required towards the completion of the capital raise process. DESNZ have modified the contract as above as a result of extended project timelines., Need for additional works, services or supplies by the original contractor/concessionaire: Additional services are required towards the completion of the SZC capital raise process due to extended project timeframes. Any change in contractor would cause significant inconvenience and substantial duplication of costs because the incumbent is uniquely placed to advise HMG and the project is at a critical stage close to completion.
Financial Advisory Services for Sizewell C · Barclays Bank PLC
- Signed
- 11 May 2022
- Value
- £9,000,000
- Period
- 11 May 2022 – 10 Dec 2025
- Status
- active
- Change Original award value (11/05/2022): £5,000,000 (excl. VAT). End date: 10/05/2024 (+ optional 12-month extension). Modification one (16/10/2023): £2,500,000 (excl. VAT) + 12-month extension. New end date: 10/05/2025. Modified contract value: £7,500,000. DESNZ amended the contract to increase the scope of Barclays' work and responsibilities in relation to the capital raise process. The variation included a 50% cost increase of £2,500,000 and time extension of 12 months to 10/05/2025. Modification two (07/05/2025): £1,500,000 (excl. VAT) + 7-month extension. New end date: 10/12/2025. Modified contract value: £9,000,000. The scope of the contract has been amended to include the activities required towards the completion of the capital raise process. DESNZ have modified the contract as above as a result of extended project timelines., Need for additional works, services or supplies by the original contractor/concessionaire: Additional services are required towards the completion of the SZC capital raise process due to extended project timeframes. Any change in contractor would cause significant inconvenience and substantial duplication of costs because the incumbent is uniquely placed to advise HMG and the project is at a critical stage close to completion.
Contracting authority & participating public bodies
2 public bodies on the noticeDispute resolution & review bodies
- N/AReview body
Bidders & participating suppliers
2 commercial parties on the notice- Barclays Bank PlcAwarded supplier
- Barclays Bank PlcAwarded supplier
Official documents & specifications
Official links; attachments are not copiedNo document links were published on the notice.