Clarifications issued on 16 November 2018:
1. We would appreciate a clarification regarding the following point: In the consultant’s team outlined in the project description, the positions of Valuation Expert(s) and Valuation/Power System Planning Expert(s) are included among other Key Expert positions. However, we observe that there is no specific reference in the project description or in the ToR on asset valuation. In addition, we understand that there is an ongoing revaluation of Uzbenergo assets under ADB financing. Please clarify what is the expected scope regarding asset valuation in this assignment.
2. The call for proposals requires two experts (KE3- Valuation and KE-4 Valuation/Power System Planning), whereas there are no explicit requirements in the ToR with respect to an asset valuation. Furthermore, an asset valuation exercise was recently kicked off, financed by a TA by the ADB, which will revalue Uzbekenergo’s generation assets. If the EBRD project also requires an asset valuation, it would be helpful to understand its context and relationship with the ADB project.
Though no asset valuation is required under the TOR, involvement of the valuation expert has been deemed necessary for the assignment which focus is potential unbundling. The consultant needs to understand the concept in the context of the potential assets split as part of the unbundling, taking note of and understanding asset revaluation under a separate ADB technical assistance.
In the last paragraph of Section 4 of the Terms of Reference attached, it states that:
“As mentioned, there might be a follow up assignment associated with the implementation of the selected reform option(s) stemming from the gap analysis. The details of this further component will be disclosed as part of a separate terms of reference to be issued in due time”.
Will the company appointed to implement the present project be also eligible to bid for the implementation project?
The company appointed to implement the present assignment will be also eligible to bid for the implementation project, should the Bank wish to proceed with the latter.
As a follow up to my previous e-mail, could you please also clarify whether there is an timeframe/period for eligibility of previous project experience? In Form 1, TP.2 Consultant’s Experience, it states that:
“List only previous similar assignments successfully completed for the period required in the Terms of Reference”.
In the attached ToR, however, there is no mention of the required period for previous experience, therefore I would be grateful if you could let us know the timeframe or whether there is another version of the ToR which includes this piece of information.
As there is no period reference in the TOR I would suggest consultant to use their judgement (or provide experience for 3-5 years perhaps) – I would be fine with whatever response you find appropriate.
The European Bank for Reconstruction and Development ("EBRD" or the "Bank") is planning to be engaged in the development of a Roadmap for attracting investment through corporate and structural reform, together with a number of other technical cooperation assignments related to grid strengthening, water management and climate resilience as well as competitive procurement of renewables.
The EBRD envisages funding assistance to, and cooperating with, policymakers in Uzbekistan in the implementation of a technical assistance study composed of one main initial component, associated with the development of a Roadmap for attracting investment through corporate and structural reform (the "Assignment").
EBRD wish to engage a consultant (the "Consultant") to undertake the Assignment. The expected outcome of the Assignment is:
· A gap analysis of the legal, institutional and regulatory framework, outlining the existing legislative, commercial, institutional and regulatory arrangements in the power sector in Uzbekistan and presenting a range of potential options for reform. While the focus of the analysis will be on unbundling, considerations around environmental and social implications in the sector shall be included. The gap analysis is expected to take into account the outcome of other donors’ activities in the sector, including least cost investment studies and ongoing work on corporate governance. Completion of this first initial component will target assisting the Government in identification of the reform path out of the presented options.
The selected Consultant is expected to provide the following:
· To analyse the current legislative, commercial, legal, institutional and regulatory arrangements in the sector and assess progress against objectives for the unbundling process started following the introduction of The Law on Electricity in 2009 with a focus on transparency, accountability and investor confidence.
· To present to policymakers in Uzbekistan a range of different options for structuring the commercial, institutional and regulatory arrangements in the sector so to increase investment attractiveness. Considerations around corporate governance arrangements, social and environmental implications will also be included in order to assist the policymakers with identifying the most appropriate reform path.
· To help strengthen technical capacity of the sector officials by identifying and presenting proven international best practice to officials, particularly through examining practical experience from other countries which have encountered similar regulatory and operational hurdles and have addressed them successfully.
Full Terms of Reference (TOR) of the Assignment can be found here.
Consultant Selection Procedure: Single stage open competitive selection. Interested firms or groups of firms are invited to submit a Technical and Financial Proposal.
Assignment Start Date and Duration: The Assignment is expected to start in December 2018 / January 2019 and has an estimated overall duration of 5 months.
Cost Estimate for the Assignment: EUR 475,000 (exclusive of VAT).
Subject to availability of funding, the performance of the selected Consultant and the business needs, the Assignment may be extended beyond the current scope.
Funding Source: It is anticipated that the contract will be financed by EBRD Special Shareholder Fund. Selection and contracting are subject to the availability of funding.
Eligibility: There are no eligibility restrictions based on the consultant's country of origin.
Consultant Profile: Corporate services are required. The Consultant will be a firm or a group of firms preferably with previous project experience related to:
(i) Experience in the provision of advice on reforms and unbundling of state-owned electricity companies in the Caucasus and Central Asian countries and in other jurisdictions.
(ii) Experience in economic regulation as applied to the power sector, including in the implementation of the European Union’s Third Energy Package.
(iii) Experience in the valuation of power generation, transmission and distribution companies in the Caucasus and Central Asian Republics and/or in other jurisdictions.
(iv) Qualification in IFRS and experience in regulatory accounting.
(v) Legal experience in drafting of primary and secondary legislation for the energy sector in the Caucasus and Central Asian countries and/or in other jurisdictions.
The Consultant's team is expected to include a combination of the following Key Experts:
1. Regulatory Policy Expert(s) and Team Leader
The expert(s) will have (i) a degree in economics, or another relevant field preferably with a postgraduate qualification; ); (ii) preferably at least 10 years of international work experience in power sector, including in the region; (iii) in-depth knowledge and experience with Third Energy Package and electricity sector market reform, including unbundling and liberalisation; (iv) hands-on experience with local economic and technical regulations in the power sector; (v) an understanding of the legal framework required to underpin tariff reforms and regulatory reforms; (vi) experience in cost-benefit analysis.
One or the proposed experts (in more than one) should be identified as a Team Leader, who should also demonstrate a strong leadership experience.
2. Regulatory Finance Expert(s)
The expert(s) will have (i) a degree in accounting, finance or another relevant field preferably with a postgraduate qualification; (ii) international work experience in regulatory finance and accounting, including in the region; (iii) in-depth knowledge of power secto