Post Construction Review of the NSL interconnector to Norway
Consultation
- Upcoming
- Open
- Closed (awaiting decision)
- Closed (with decision)
- Publication date
- Closed date
- Industry sector
- Transmission Network
- Licence type
- Electricity Interconnector Licence
- Decision
Related links
- Decision on the Final Project Assessment of the NSL interconnector to Norway
- Post Construction Review of the Nemo Link interconnector to Belgium
- Post Construction Review of the IFA2 interconnector to France
- Statutory consultation on proposal to insert new conditions into electricity interconnector licence held by National Grid North Sea Link Limited (NGNSL)
- Cap and Floor Regime Handbook
North Sea Link (NSL) is an interconnector project regulated under our cap and floor regime. NSL commenced commercial operations on 1 October 2021.
We granted National Grid North Sea Link (NGNSL) a cap and floor regime with respect to the NSL interconnector project in March 2015 and set the preliminary cap and floor levels in July 2017 after our assessment of the Final Project Assessment (FPA). The NSL project has reached the final assessment stage of the regime, the Post Construction Review (PCR), where we determine the value of the Post Construction Adjustment (PCA) terms and set the final cap and floor levels for the project.
At this stage, we revisit aspects of our cost assessment that were not fixed at previous stages, and assess the efficiency of responses to events that have materialised during construction. We then determine the value of the PCA terms, which adjust the preliminary cap and floor levels to take into account our final view of the project’s costs.
About this consultation
This consultation sets out our minded-to position on NGNSL’s PCR, in particular our views on the proposed values for the PCA terms submitted by NGNSL and proposed final cap and floor levels for the project.
Alongside our consultation on the NGNSL PCR, we are also consulting on related changes to the special conditions of NGNSL’s interconnector licence. We are also seeking views on updated Cap and Floor Financial Models 1 and 2 and associated handbooks for NGNSL.
This consultation will close on 7th August 2023. Subject to stakeholder responses, we aim to make our final decision on NGNSL’s PCR and on the other elements outlined above in September 2023.
Respond name
Ikbal hussain