Financial Advisory Services for Sizewell C

Opportunity overview

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.

Awarded to

Amounts belong to published awards or contracts. Where several suppliers share one value, it is labelled as shared and is not a supplier-specific allocation.

Classification

• CPV66171000 — Financial consultancy services

Lots

• 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.**Value not stated