Determination of the Within Period Adjustment request made by Nemo Link Limited
Correspondence and other
- Publication date
- Company
- Nemo Link Limited
- Industry sector
- Offshore Transmission Network
- Licence type
- Electricity Interconnector Licence
Ofgem’s cap and floor regime sets a yearly maximum (cap) and minimum (floor) level for the revenues that the interconnector licensee can earn over a 25-year period. Usually, revenues generated by the interconnector are compared against the cap and floor levels over five-year assessment periods. Top-up payments are made to the interconnector licensee if revenues are lower than the floor; and similarly, the licensee pays revenues in excess of the cap to consumers. A Within Period Adjustment (WPA) may be requested by a licensee, enabling payments to be made before the end of the five-year assessment period.
This publication details our determination of the WPA requested by Nemo Link Limited with respect to the Nemo Link Interconnector. The Relevant Partial Assessment Period for this WPA request is 1 January 2022 to 31 December 2022.
As Nemo Link is jointly regulated by Ofgem in Great Britain and the Commission for Electricity and Gas Regulation (CREG) in Belgium, the value of the WPA is split 50/50 between GB and Belgian consumers.