Financial Advisory Services for Sizewell C - Contract Variation

This is a variation of an existing contract between Barclays and the Department for Energy, Security and Net Zero (DESNZ).

The existing scope of the contract is the provision of financial advisory services to i) assess, input, and challenge the design, management and execution of SZC's capital structure and fundraising process; and ii) provide advice in relation to key judgements and decisions that will be required from HMG in order for it to execute its policy objectives and make sound investment decisions that represent VfM for the taxpayer.

DESNZ is amending the contract's scope to increase the scope of Barclay's work and responsibilities in relation to the capital raise process. The variation will include a 50% cost increase of £2,500,000 and time extension of 12 months to 10/05/2025.

• Original award total: £5,000,000 excluding VAT
• Variation 1: £2,500,000 excluding VAT
• Variation 2: Minor scope variation for this contract to fund an increased role in the capital raise process.
• Variation 3: Original end date: 10/05/2024 New end date: 10/05/2025
• Modified award total: £7,500,000 excluding VAT