Award of Flexible Gas Purchase Contract to Total Gas and Power Ltd
City of London Corporation · Awarded contract
AwardedAward of Flexible Gas Purchase Contract to Total Gas and Power Ltd
Awarded 30 Sep 2018
Awarded30 Sep 2018
Value£4,598,961.00
SupplierTotal Gas and Power Ltd
RegionLondon
CategoryEnergy & Environment
Ended 5y 1mo ago3y term
Awarded 30 Sept 2018Expired 29 Sept 2021
About
City of London Corporation awarded a contract to Total Gas and Power Ltd for a flexible gas purchase arrangement covering all gas meters over a three-year period commencing 1 October 2018.
The contract, valued at £4,598,961, includes 28-day BACS payment terms with no credit mitigation requirement, a minimum +/-20% annual volume tolerance, a three-year fixed shape/swing premium, and a fixed management fee.
It allows the Authority to purchase commodity costs via over-the-counter pricing through traders at Mitie Energy's Risk Management Team, with options to fix/unfix, purchase at day-ahead indices, and reforecast volumes.
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Award of Flexible Gas Purchase Contract to Total Gas and Power Ltd
Won by Total Gas and Power Ltd · City of London Corporation
£4.6Mawarded
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