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Contract Details
| Title |
Financial Advice for Nuclear United Kingdom |
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|---|---|---|---|---|
You can sign up and unlock it for freeAccess to Public and Private Sector Business Opportunities for 200+ Countries |
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| Country | ||||
| Language | English | |||
| Organization | ||||
| Published Date | 16.03.2024 | |||
| Awarded Date | 08.09.2021 | |||
| Overview | Contract Award's Details : Financial Advice for Nuclear Business Energy and Industrial Strategy Financial Advice for Nuclear he original costs for this contract (and related service) awarded in 2017 were historically forecast upon the Wylfa reactor programme. It was envisaged BEIS would then design a generic nuclear RAB model, the structure of which would then be passed to Ofgem to finish and implement. Therefore the exact nature of the required future spend to support other nuclear programmes (such as Sizewell C / SZC) was based on really high level estimate as the nature of those forthcoming programmes was not known at that time. During 2019 - 2020 HMG then had a change in policy direction. Wylfa had ceased to be a live project with the only largescale nuclear project remaining being SZC . At this point HMG did not want to pass lead responsibility to OFGEM to complete and implement. HMG kept the project lead and now has more responsibilities for the entire design (of the structure), negotiation and ongoing implementation. That means HMG and BEIS role is far greater than ever envisaged back in 2017. Therefore the spend has been faster and greater than was anticipated with the supplier PwC, for its financial advisory services. Going forward, any delay of support from PwC would significantly affect HMG& 039;s power of negotiation and subsequently affect EDF& 039;s confidence in HMG. This would create the risk of EDF possibly cancelling the entire project. Which in turn generates further risks for HMG - failing to deliver Carbon Budget no 6 target and the Prime Ministers 10 point plan. Due to the complex nature of the programme, the initial allocated budget of & xA3;4.5M since 2017 is being consumed faster than anticipated. The additional spend increase of & xA3;2,250,000 has been added to the contract United Kingdom Contract value : 6,750,000.00 GBP Contractors : PRICEWATERHOUSECOOPERS LLP 30/11/2017 09/09/2021 10/12/2022 77608459 09/09/2021 Business Energy and Industrial Strategy Address : 1 Victoria Street SW1H0ET, London Paul Donovan Paul.Donovan@beis.gov.uk 03000685394 United Kingdom United Kingdom Contract Awards United Kingdom ocds-b5fd17-bba5101e-b283-475e-8a19-9aa72f0cd751-465356-tender-reference-number:-1345-08-2017 30/11/2017 10/12/2022 6,750,000.00 GBP | |||
| NAICS | ||||
| CPVS | ||||
| UNSPSC |
-
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| Regions | ||||
| Sectors |
Building
Automobiles and Auto Parts
Non-Renewable Energy
Supply
Energy
Postal and Courier Services
Roads and Highways-Bridge
Infrastructure
Printing and Publishing
Services
Railways-Rail-Railroad
Defence and Security
Construction
Consultancy
Energy-Power and Electrical
Computer Hardwares and Consumables
Industry
Building Material
Marine
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| Contractor | ||||
| Contract Value |
6,750,000.00 GBP
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URL | ||
| Share | ||||
United Kingdom
| Title |
|---|
Financial Advice for Nuclear United Kingdom |
| Country |
| Language |
| English |
| Organization |
| Published Date |
| 16.03.2024 |
| Awarded Date |
| 08.09.2021 |
| Overview |
| Contract Award's Details : Financial Advice for Nuclear Business Energy and Industrial Strategy Financial Advice for Nuclear he original costs for this contract (and related service) awarded in 2017 were historically forecast upon the Wylfa reactor programme. It was envisaged BEIS would then design a generic nuclear RAB model, the structure of which would then be passed to Ofgem to finish and implement. Therefore the exact nature of the required future spend to support other nuclear programmes (such as Sizewell C / SZC) was based on really high level estimate as the nature of those forthcoming programmes was not known at that time. During 2019 - 2020 HMG then had a change in policy direction. Wylfa had ceased to be a live project with the only largescale nuclear project remaining being SZC . At this point HMG did not want to pass lead responsibility to OFGEM to complete and implement. HMG kept the project lead and now has more responsibilities for the entire design (of the structure), negotiation and ongoing implementation. That means HMG and BEIS role is far greater than ever envisaged back in 2017. Therefore the spend has been faster and greater than was anticipated with the supplier PwC, for its financial advisory services. Going forward, any delay of support from PwC would significantly affect HMG& 039;s power of negotiation and subsequently affect EDF& 039;s confidence in HMG. This would create the risk of EDF possibly cancelling the entire project. Which in turn generates further risks for HMG - failing to deliver Carbon Budget no 6 target and the Prime Ministers 10 point plan. Due to the complex nature of the programme, the initial allocated budget of & xA3;4.5M since 2017 is being consumed faster than anticipated. The additional spend increase of & xA3;2,250,000 has been added to the contract United Kingdom Contract value : 6,750,000.00 GBP Contractors : PRICEWATERHOUSECOOPERS LLP 30/11/2017 09/09/2021 10/12/2022 77608459 09/09/2021 Business Energy and Industrial Strategy Address : 1 Victoria Street SW1H0ET, London Paul Donovan Paul.Donovan@beis.gov.uk 03000685394 United Kingdom United Kingdom Contract Awards United Kingdom ocds-b5fd17-bba5101e-b283-475e-8a19-9aa72f0cd751-465356-tender-reference-number:-1345-08-2017 30/11/2017 10/12/2022 6,750,000.00 GBP |
| NAICS |
| Power Business Computing Infrastructure Providers Other Foundation Copper Other Foundation Highway Highway Commercial Highway Foundation Copper |
| CPVS |
| Parts of structures Iron, lead, zinc, tin and copper Carbon Lead Supports Structures and parts Nuclear, biological, chemical and radiological protection equipment Other services Designs |
| UNSPSC |
| - |
| Regions |
| Europe Northern Europe |
| Sectors |
| Building Automobiles and Auto Parts Non-Renewable Energy Supply Energy Postal and Courier Services Roads and Highways-Bridge Infrastructure Printing and Publishing Services Railways-Rail-Railroad Defence and Security Construction Consultancy Energy-Power and Electrical Computer Hardwares and Consumables Industry Building Material Marine |
| Contractor |
| Contract Value |
|
6,750,000.00 GBP
|
| URL |
|
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| Share |
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