DOE Spends $6M on LSEG Data Subscriptions for Workspace Tools and API Services
Contract Overview
Contract Amount: $603,912 ($603.9K)
Contractor: Refinitiv US LLC
Awarding Agency: Department of Energy
Start Date: 2026-04-02
End Date: 2027-03-31
Contract Duration: 363 days
Daily Burn Rate: $1.7K/day
Competition Type: NOT COMPETED
Number of Offers Received: 1
Pricing Type: FIRM FIXED PRICE
Sector: Other
Official Description: OBTAIN LONDON STOCK EXCHANGE GROUP (LSEG) DATA SUBSCRIPTION LICENSES FOR PROPRIETARY WORKSPACE ANALYTICAL TOOLS AND APPLICATION PROGRAMMING INTERFACE (API) DATA STREAMING SERVICES.
Place of Performance
Location: NEW YORK, NEW YORK County, NEW YORK, 10005
State: New York Government Spending
Plain-Language Summary
Department of Energy obligated $603,912 to REFINITIV US LLC for work described as: OBTAIN LONDON STOCK EXCHANGE GROUP (LSEG) DATA SUBSCRIPTION LICENSES FOR PROPRIETARY WORKSPACE ANALYTICAL TOOLS AND APPLICATION PROGRAMMING INTERFACE (API) DATA STREAMING SERVICES. Key points: 1. Significant investment in proprietary data tools highlights reliance on LSEG's analytics. 2. Sole-source procurement raises questions about price discovery and potential cost savings. 3. Long-term subscription (363 days) locks in costs through 2027. 4. The 'Web Search Portals and All Other Information Services' NAICS code suggests a broad category for this specialized data service.
Value Assessment
Rating: questionable
The contract value of $6.04M for a 363-day subscription is substantial. Without competitive bidding, it's difficult to benchmark against similar LSEG data packages or alternative providers.
Cost Per Unit: N/A
Competition Analysis
Competition Level: sole-source
This contract was not competed, indicating a sole-source award. This limits price discovery and may result in higher costs than if multiple vendors had competed.
Taxpayer Impact: Taxpayers may be overpaying due to the lack of competition for these essential data services.
Public Impact
Access to critical market data for Department of Energy analysis and decision-making. Potential for enhanced research and development capabilities through advanced analytical tools. Ensures continued access to proprietary LSEG data streams vital for operational functions.
Waste & Efficiency Indicators
Waste Risk Score: 50 / 10
Warning Flags
- Lack of competition
- High contract value
- Long-term commitment
Positive Signals
- Access to specialized data
- Supports analytical functions
Sector Analysis
The Department of Energy's reliance on specialized data subscriptions falls within the broader information services sector. Benchmarking is difficult without competitive data, but $6M for a year's subscription to premium financial data is significant.
Small Business Impact
This contract does not appear to involve small businesses, as it is a sole-source award to a large, established provider (Refinitiv US LLC).
Oversight & Accountability
The sole-source nature of this award warrants close oversight to ensure the Department of Energy is receiving fair value for the taxpayer dollars spent.
Related Government Programs
- Web Search Portals and All Other Information Services
- Department of Energy Contracting
- Department of Energy Programs
Risk Flags
- Sole-source procurement
- High dollar value
- Limited transparency on pricing benchmarks
- Potential for vendor lock-in
Tags
web-search-portals-and-all-other-informa, department-of-energy, ny, purchase-order, 100k-plus
Frequently Asked Questions
What is this federal contract paying for?
Department of Energy awarded $603,912 to REFINITIV US LLC. OBTAIN LONDON STOCK EXCHANGE GROUP (LSEG) DATA SUBSCRIPTION LICENSES FOR PROPRIETARY WORKSPACE ANALYTICAL TOOLS AND APPLICATION PROGRAMMING INTERFACE (API) DATA STREAMING SERVICES.
Who is the contractor on this award?
The obligated recipient is REFINITIV US LLC.
Which agency awarded this contract?
Awarding agency: Department of Energy (Department of Energy).
What is the total obligated amount?
The obligated amount is $603,912.
What is the period of performance?
Start: 2026-04-02. End: 2027-03-31.
What specific analytical tools and data streams are included in this subscription, and how critical are they to the Department of Energy's mission?
The subscription provides access to LSEG's proprietary Workspace analytical tools and API data streaming services. These are likely crucial for market analysis, economic forecasting, and potentially energy sector-specific research within the Department of Energy. Understanding the unique capabilities and necessity of these specific tools is key to justifying the expenditure.
Were any market research or alternative solutions explored before determining a sole-source acquisition was necessary?
Given this was a sole-source award, it is imperative to understand the extent of market research conducted. The Department of Energy should have explored if similar data or analytical tools could be obtained from other vendors, or if alternative methods could meet their needs. Without this, the justification for a sole-source procurement is weakened.
What is the long-term strategy for data acquisition, and could consolidating or negotiating enterprise-wide licenses reduce future costs?
The current 363-day subscription suggests a recurring need. The Department of Energy should evaluate its long-term data requirements. Exploring enterprise-wide licensing agreements or consolidating subscriptions across different offices could potentially lead to volume discounts and more favorable terms, thereby reducing overall spending.
Industry Classification
NAICS: Information › Web Search Portals, Libraries, Archives, and Other Information Services › Web Search Portals and All Other Information Services
Product/Service Code: IT AND TELECOM - APLLICATIONS
Competition & Pricing
Extent Competed: NOT COMPETED
Solicitation Procedures: ONLY ONE SOURCE
Solicitation ID: 89303026NEI000090
Offers Received: 1
Pricing Type: FIRM FIXED PRICE (J)
Evaluated Preference: NONE
Contractor Details
Address: 28 LIBERTY STREET, 58TH FLOOR, NEW YORK, NY, 10005
Business Categories: Category Business, Corporate Entity Not Tax Exempt, Limited Liability Corporation, Not Designated a Small Business, Special Designations, U.S.-Owned Business
Financial Breakdown
Contract Ceiling: $3,546,270
Exercised Options: $603,912
Current Obligation: $603,912
Contract Characteristics
Commercial Item: COMMERCIAL PRODUCTS/SERVICES
Timeline
Start Date: 2026-04-02
Current End Date: 2027-03-31
Potential End Date: 2031-09-30 00:00:00
Last Modified: 2026-04-02
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