This statutory consultation follows our decision in March 2015 to grant the IFA2 interconnector a cap and floor regime in principle. In July 2018, we reached a decision on the final project assessment (FPA) of IFA2 setting the provisional cap and floor levels at £50.7m and £27.6m in 2016/17 prices.
Following this decision, we propose to modify the electricity interconnector licence held by National Grid IFA2 Limited (NGIFA2) in order to implement its cap and floor regime.
We are interested in your views on our proposals to introduce new special licence conditions into the electricity interconnector licence held by NGIFA2 that will give effect to IFA2’s specific cap and floor regime. These changes should reflect the details of the regime for IFA2 as set out in our decision on the FPA.