Long Duration Energy Storage - Economic and Financial Consultancy Support

Ofgem is seeking ongoing economic and financial consultancy support to manage the Long Duration Energy Storage (LDES) support regime through implementation and future application rounds. The programme is transitioning from policy development to delivery, with Window 1 licence awards expected in Autumn 2026. The successful supplier will provide robust, evidence-based analysis to ensure appropriate support levels and best value for consumers. Key responsibilities include: independently validating developer financial submissions (models, costs, revenues), assessing socio-economic benefits, developing market revenue forecasts under multiple scenarios with sensitivity analysis, and producing decision-ready regulatory advice. The supplier must complement Ofgem's internal capability with specialist expertise in electricity markets, economic analysis, and financial forecasting. This is a multi-year engagement spanning the final Window 1 award phase, project construction monitoring, and delivery of future application windows with varying volumes and complexity. The role is critical to managing financial viability risks and ensuring realistic project assumptions.