Fossil Fuel Prices Research

Fossil Fuel Prices Research

Derivation of copula functions using correlated fossil fuel prices and their use in Monte Carlo modelling.

Reference number: NC/CF/26/4/2012

Deadline date:10/05/2012

This deadline is for… 4pm

Contract value:£0 – £30,000

Location where the contract is to be carried out: London

Is this suitable for smaller suppliers? Yes

Is this contract suitable for a voluntary, community and social enterprise organisations? No

Name of the buying organisation: Department of Energy and Climate Change (DECC)


Description of the contract

Background Each year, DECC publishes a set of projections of energy and emissions. These projections are used, amongst other things, to monitor the UK’s progress towards legally binding carbon budgets and it is therefore important that industry and policy makers have confidence in the values provided. Underlying these projections are a simulation of the electricity supply industry a set of econometric demand equations within which the fossil fuel prices constitute a major input.


Classification of the contract

73000000 Research and development services and related consultancy services

73300000 Design and execution of research and development


Additional information

Contract type: Services – Unspecified

Is it a framework agreement? No

Is this contract related to a programme of funding? No

Contract will be awarded based on: Most economically advantageous tender in terms of: The criteria stated in the contract documents

Estimated length of contract: 5 Months


Who to contact

Contact name Roger Lampert

Organisation name Department of Energy and Climate Change (DECC)

Address Area 6A, 3, Whitehall Place, London, United Kingdom, SW1A 2AW

Telephone 0300 068 5019

Extension number:


Web address


How to apply

How to apply If you wish to take part in this procurement please complete the ITT attached and send three copies of your proposal one which must be signed to Roger Lampert Area 6A, 3 Whitehall Place, London, SW1A 2AW. Also email one copy to Any late submissions will not be considered. DECC reserves the right to halt the procurement process and to not award a contract. DECC will not be held liable for recovery of costs from unsuccessful bids if a contract is not awarded. All costs will be borne by the bidding organisations. If a contract is created it will be upon DECC terms and conditions, which are available on the main DECC website – and will be issued to organisations invited to submit a tender bid. Completed tender submission must be returned by post to DECC, address given above, by 4pm on Thursday, May 10th 2012. Interviews, if deemed necessary, will be held during the week beginning May 14th and a decision made on or before Monday May 21st. The successful bidder will be expected to start as soon as possible due to the urgent nature of this contract. Any questions regarding this procurement must be sent to