# Gas Flexible Purchase

> Contract award record from UK public-sector procurement sources.

## Key facts

- Public buyer: [City of London Corporation](/buyers/city-of-london-corporation/contract-awards)
- Contract winner: [Total Gas and Power Ltd](/contract-winners/total-gas-and-power/public-sector-contract-awards)
- Award value: £4,598,961
- Tender value: £4,598,961
- Award date: 9 August 2018
- Published: 17 October 2018
- Contract start: 1 October 2018
- Contract end: 30 September 2021
- Stage: awarded
- Procurement category: goods
- Notice ID: 0393025b-b675-40f0-a099-4f704959b6e6-246819
- OCID: ocds-b5fd17-38b781c1-bfbe-4ab2-acfb-8b11b39dd920

## Description

The Authority require a contract to include all gas meters, for a 3 year period commencing on the 1\.10\.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\. Additional information: Total contract values given are for the full contract period, and are based upon estimated costs and volume at the time of contract award, which may be subject to change during the life of the contract\.

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## Source

[View the original notice on Contracts Finder](https://www.contractsfinder.service.gov.uk/Notice/0393025b-b675-40f0-a099-4f704959b6e6-246819)