# OFTO Policy Review

> A sourced UK public sector contract award published by Ofgem.

## Key facts

- Buyer: [Ofgem](/buyers/ofgem/contract-awards)
- Supplier: [Smith Square Partners Llp](/suppliers/smith-square-partners/public-sector-contract-awards)
- Award value: £215,500
- Tender value: £215,500
- Award date: 17 January 2024
- Published: 18 January 2024
- Contract start: 18 January 2024
- Contract end: 17 January 2026
- Stage: awarded
- Procurement category: services
- Notice ID: 0c4a5613-341b-4520-acb8-11d0fad61dfa-715371
- OCID: ocds-b5fd17-962c6504-c6d8-425b-b3a0-607d56b20300

## Description

The processes for bidding for OFTOs does not always meet the targeted dates in the timetable set out in the ITT\. The objective of this process efficiency review is to stand back and examine the processes that have built up in the ITT phase to assess whether there are changes that can be made that are within Ofgem's control which will help drive efficiencies in the ITT bidding process and shorten the length of the subsequent Preferred Bidder to Financial Close stage\. Consideration should also be given as to whether an incentive mechanism would be beneficial to drive behaviour further\. This is to be structured as 3 workstreams which will run broadly in parallel\. The first module will review Ofgem's cost assessment process; the second module, opportunities for greater standardisation of the Sale and Purchase Agreement \(SPA\); and the third module will develop a cash incentive mechanism that takes account of the findings from the two other modules\.

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## Source

[View the original notice on Contracts Finder](https://www.contractsfinder.service.gov.uk/Notice/0c4a5613-341b-4520-acb8-11d0fad61dfa-715371)