Planning & Financial DEPT.
22. дец 2025.
Market Analysis and Forecasting Report on Electricity Price Dynamics in Southeast Europe
Chapter 1 Request for Quotation
1. Introduction
Crni Vrh Power Doo Zagubica is seeking to engage a qualified Market Analysis service provider to deliver Market Analysis and Forecasting Report on Electricity Price Dynamics in Southeast Europe, effective from year 2025.
To ensure a transparent and competitive selection process, the company has issued this Request for Quotation (RFQ), inviting experienced firms to submit their proposals. The selected provider will be responsible for assisting the company’s financial operations, ensuring compliance with regulatory standards, and offering strategic accounting guidance.
2. Overview and Scope and Requirements of the RFQ
2.1 Company Profile
Crni Vrh Power Doo Zagubica is a renewable energy company responsible for the development, construction, and operation of the Black Peak 150MW wind power project in Serbia. The company is committed to advancing sustainable energy solutions and ensuring compliance with international financial reporting standards (IFRS), Serbian accounting regulations, and corporate governance requirements. To support its operations, the company seeks a professional accounting advisory firm to provide ongoing financial and accounting consulting services. Crni Vrh Power Doo Zagubica (referred to as the "Offeror").
2.2 Scope of Inquiry
Crni Vrh Power Doo Zagubica is seeking to procure a detailed report covering the following core areas:
l Market Analysis: Examination of the current structure, key players, generation mix, and regulatory framework of the Serbian electricity market and its interconnections with regional markets (primarily Croatia, Hungary, Romania).
l Trend Assessment: Historical and current analysis of negative electricity price occurrences, including frequency, duration, depth, and seasonal patterns in the specified regional markets.
l Forecasting: Development of data-driven forecasts for the evolution of negative price hours and related market dynamics up to 2035, under base, optimistic, and pessimistic scenarios.
l Correlation & Impact Study: Analysis of price correlations and spill-over effects between the Serbian market and neighboring coupled markets.
l Strategic Recommendations: Identification of risks and opportunities arising from negative pricing trends, with practical recommendations for mitigation strategies, potential investments (e.g., in flexibility solutions like BESS), and policy engagement.
2.3 Requirements for Response
Prospective accounting firms ("Bidders") shall adhere to the following requirements when submitting proposals:
2.3.1 Project Team Composition & Expertise
l Bidders must propose a dedicated core project team comprising:
1 Project Lead / Senior Analyst with a minimum of 8 years of experience in energy market analysis, modeling, and forecasting, specifically in European or Southeast European markets.
2-3 Supporting Analysts / Associates with demonstrated expertise in data analysis, econometrics, and the regional power sector.
l The proposed team must collectively possess strong knowledge of electricity market design, renewable integration challenges, and the regulatory frameworks of Serbia, Croatia, Hungary, and Romania.
l Key team members shall not be substituted without the prior written approval of the Client.
2.3.2 Service Pricing Structure
l Provide a fixed-fee, all-inclusive quotation covering the complete delivery of all services and deliverables outlined in Section 2.2 and Chapter 3.
l The quoted fee must be valid for a minimum of 30 days from the proposal submission deadline.
l The price breakdown must clearly separate costs for analysis, reporting, presentation, and any potential data licensing fees.
2.3.3 Proposal Submission
l Deadline:Dec 26, 12:00 (Serbian Time).
l Submission Method: Proposals must be sent via email to zhanglutong@spic.com.cn.
l Required Documents:
Company profile and relevant project experience, specifically with energy market studies and forecasting.
Detailed CVs of all proposed core team members, highlighting specific relevant projects.
A clear methodology note explaining the approach to data collection, analysis, modeling, and forecasting.
At least two references from similar engagements (e.g., strategic market analysis for energy companies, investors, or utilities).
l Late submissions will not be considered.
2.3.4 Bidder Commitments
l Designate a single point of contact (name, title, email, phone number) for all RFQ-related communications.
l Be available for a mandatory clarification meeting (remote) upon request, prior to the submission deadline, to ensure alignment on the scope and deliverables.
2.3.5 Evaluation Criteria
The evaluation will be conducted based on the Lowest Price Method. The contract will be awarded to the bidder offering the lowest evaluated price while meeting all technical and contractual requirements.
Chapter 2 Response Instructions
No. | Specification |
1 | Project Overview Crni Vrh Power Doo Zagubica operates on the Black Peak 150MW wind power project in Serbia. |
2 | Inquiry by Crni Vrh Power Doo Zagubica Business Contact: Lutong Zhang Tel：0638983968 |
3 | Start of service: Dec 2025 |
4 | Content: Crni Vrh Power Doo Zagubica intends to commission an service provider to provide for the Market Analysis and Forecasting Report on Electricity Price Dynamics in Southeast Europe, for which a request for quotation (RFQ) has been issued. |
5 | Compliance with Qualification Conditions Crni Vrh Power Doo. confirms adherence to all RFQ requirements: Legal & Operational Capacity: The Bidder must be a legally established and independent entity, holding all necessary business licenses and permits to legally provide consulting and research services. Financial Stability: The Bidder must not be subject to bankruptcy proceedings, asset freezes, liquidation, or any order suspending its business operations. Professional Integrity: The Bidder must confirm that, within the past three (3) years, it has not been found guilty of fraudulent bidding practices, material breach of contract, or had a professional services contract terminated for cause. Reputation & Credit Standing: The Bidder must possess a sound business and professional reputation, supported by verifiable references and a history of reliable performance. |
6 | Correspondence regarding the RFQ documents, response documents, clarification questions, and clarification responses for this project will be transmitted by email between the RFQ Offeror and the Bidders, whichever is the time of receipt of the email. |
7 | Period of validity of the offer: 30 days from the specified closing date of the offer. |
8 | Deadline for quotations: by 12:00 o'clock on Dec 26, 2025, Serbian time, offline opening of tenders. |
9 | Attention: 1) Bidders are requested to quote in strict accordance with the requirements of the RFQ document. 2) Please make reasonable quotations according to the requirements. If the quotation deviates from the market price, the RFQ will regard the quotation as invalid. 3) All documents, certificates and information submitted by the Bidders shall be true, accurate and valid. 4) Bidders shall carefully read the requirements of the procurement documents and submit the response documents before the specified deadline, which must include (the following may be combined) Service capability response document (document form: scanned copy signed by legal person) Commercial response document (document form: scanned copy signed by the legal person) Quotation list (document form: scanned copy signed by the legal person) |
10 | Request for quotation: Open Inquiry and Invitation for quotation |
11 | Finalization of bids: Lowest bid evaluation method; |
12 | Signing of contract: The offeror shall designate the project company under its control or management to sign with the successful bidder. |
Chapter 3 Service requirements
3.1 General
3.1.1 These Service Requirements govern the provision of Market Analysis and Forecasting Report on Electricity Price Dynamics in Southeast Europe Services by the selected provider ("Service Unit") to Crni Vrh Power Doo Zagubica, Serbia.
3.1.2 Commencement Date: Services shall begin upon written notification by Crni Vrh Power (the "Offeror").
3.1.3 Minimum Standards:
l The Service Unit shall provide legal counseling aligned with Crni Vrh Power’s operational practices.
l Services must meet or exceed the requirements herein; any higher standards (whether from the Offeror or Service Unit) shall prevail.
3.1.4 Implied Acceptance: Failure to object in writing constitutes full acceptance of these terms.
3.1.5 Regulatory Changes: Post-contract, the Service Unit may propose mutually agreed adjustments to address changes in Serbian/IFRS standards.
3.1.6 Interpretation: Crni Vrh Power retains exclusive rights to interpret these requirements.
3.2 Responsibilities and Obligations of the Service Unit
3.2.1 Team Composition:
The Bidder must propose a dedicated, core project team comprising:
l 1 Project Lead / Senior Analyst with a minimum of 8 years of demonstrable experience in energy market analysis, forecasting, and consulting, with specific expertise in Southeast European markets.
l 2-3 Supporting Analysts / Associates with proven skills in data analytics, econometric modeling, and power sector research.
l The proposed team must possess collective, in-depth knowledge of electricity market design, renewable energy integration, and the regulatory environment in Serbia and the specified neighboring countries.
l No substitutions of the proposed key personnel shall be made without the prior written approval of the Client.No substitutions without Crni Vrh Power’s prior written approval.
3.2.2 Personnel Flexibility:
l The Bidder must demonstrate the capacity to adjust resource allocation or escalate issues promptly in response to the Client's needs throughout the project lifecycle, following a mutually agreed-upon protocol.
3.2.3 Documentation & Compliance:
As part of the proposal, the Bidder must submit clear, valid copies of:
l Company business registration and licenses.
l Professional certifications or accreditations relevant to market research and analysis.
l Detailed CVs for all proposed team members, highlighting specific relevant project experience.
3.2.4 Service Delivery:
l The Bidder shall adhere to mutually agreed project milestones, work plans, and delivery schedules as outlined in the final Statement of Work.
l All services must be performed in accordance with the professional standards, methodologies, and specifications defined in the proposal and subsequently agreed upon with the Client.
3.2.5 Pricing & Fees:
l Fixed-fee structure (no hidden costs).
l Fees valid for 30 days post-submission (until Dec 26, 2025).
3.3 Scope of Work
The Consultant shall assist the Offeror with the following tasks:
l Market Analysis: Examination of the current structure, key players, generation mix, and regulatory framework of the Serbian electricity market and its interconnections with regional markets (primarily Croatia, Hungary, Romania).
l Trend Assessment: Historical and current analysis of negative electricity price occurrences, including frequency, duration, depth, and seasonal patterns in the specified regional markets.
l Forecasting: Development of data-driven forecasts for the evolution of negative price hours and related market dynamics up to 2035, under base, optimistic, and pessimistic scenarios.
l Correlation & Impact Study: Analysis of price correlations and spill-over effects between the Serbian market and neighboring coupled markets.
l Strategic Recommendations: Identification of risks and opportunities arising from negative pricing trends, with practical recommendations for mitigation strategies, potential investments (e.g., in flexibility solutions like BESS), and policy engagement.
Contact Person: Lutong Zhang
E-mail: zhanglutong@spic.com.cn
Phone: 0638983968