Demerger Consultants (EirGrid Led)

Description

Following a lengthy consultation period, the Utility Regulator in Northern Ireland issued a decision in August 2022 regarding SONI Governance matters. This decision became effective within the SONI TSO Licence from 26 October 2022. The Licence Modification requires significant changes to the SONI Ltd Board composition and the relationship between EirGrid plc (as parent) and SONI Ltd (its subsidiary). They also require that the SONI TSO business be managerially and operationally separate from EirGrid and any other company within the EirGrid Group with separate premises, IT and other systems, equipment, facilities, processes and staff. The Utility Regulator’s Licence Modification requirements for independence at Board, Management and Operational levels in the SONI business equates to a de-facto requirement to demerge the EirGrid and SONI businesses. As a result, EirGrid is now seeking to appoint a consultancy business to design, manage and implement this demerger project. SONI Ltd will separately appoint consultants to design, manage and implement this demerger project reporting into the SONI Ltd Board. These projects will run in parallel to ensure completion of the demerger. The Framework Agreement period will be for an initial duration of two years with the option to extend annually for up to an additional three years, subject always to the satisfactory performance of the supplier.