DR5025 - Energy Supply Brokerage Service

Tender description

The London Borough of Tower Hamlets (LBTH) seeks the submission for tenders from suitably qualified brokerage providers for the provision of an efficient and effective energy brokerage service, providing and managing the Councils energy procurement and risk strategies and a platform on which to trade for the natural gas and grid electricity for the LBTH estate. The estate, consisting of various sites across the borough, comprises sites within the councils direct control (operational buildings, idea stores etc.). The Council seeks to appoint a provider with the required expertise and experience of the Energy markets to afford the Council additional flexibility and take advantage of the volatil energy markets, purchasing when there are dips in energy prices, forward purchasing, participating in Triad periods, buyback gas contracts and hedge electricity contracts. The successful provider will be required to recommend and produce the Councils procurement risk strategies including support capability using both fundamental and technical analysis and reporting systems to deliver financial control and meet the Council’s objectives for budgetary control for the initial 12 months of the framework (01/09/16 – 31/08/17) and quarterly there-after. The anticipated contract start date is: Thursday, 01 September 2016 The estimated value of the contract is: Between £25-50k Per Annum For a period of: 12 months, with the possibility of 2 further extensions of 12 months each to be granted at the Councils sole discretion.