Petroleum products, fuel, electricity and other sources of energy

Tender description

The City invites Tenders for the provision of a electricity and gas supplies, across the City's Corporate, Investment Property and Housing portfolios. 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. The Authority require a contract to include all gas meters, for a 3 year period commencing on the 1st October 2018. The contract is to be 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 / swing premium. 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 require a fixed price, fixed term contract which includes all non-commodity costs and which protects against increases in non-commodity costs across the contract duration. The requirement is for a 2 year contract based on 28 day BACs payment term and no requirements for any credit mitigation. The contract is to include, as minimum, a +/-20 % annual volume tolerance. The Authority require a supplier who can provide REGO (Renewable Energy Guarantee of Origin) backed renewable energy for the whole portfolio at a fixed price for the contract duration and for the cost to be included within the offered unit rates. The Authority require a fixed price, fixed term contract which includes all non-commodity costs and which protect against increases in non-commodity costs across the contract duration. The requirement is for a 2 year contract based on 28 day BACs payment term and no requirements for any credit mitigation. The contract is to include, as minimum, a +/-20 % annual volume tolerance.