Consultation on Timelines and Incentives changes for the Third Cap and Floor Window for Interconnectors
Consultation
- Upcoming
- Open
- Closed (awaiting decision)
- Closed (with decision)
- Publication date
- Closed date
- Industry sector
- Transmission Network
- Decision
A decision for this consultation was published on Tuesday 14 November 2023.
This consultation sets out our proposed new approach to the timelines and incentives framework to be applied to the Third Cap and Floor Window for Electricity Interconnectors. To protect consumers from undue delays and maintain the risk-reward balance between consumers and developers, our changes are centred around the treatment of interconnector project delivery delays.
We are seeking views on our proposals:
- To introduce a modified approach to the Regime Start Date. This modified Regime Start replaces the Connection Date term introduced in our Application Guidance for the Third Cap and Floor Window for Electricity Interconnectors
- To introduce Payback Mechanism for Delays
- To introduce the modified Backstop Date (including interactions with the Payback Mechanism for Delays) and
- The Reasonable Delay Event.
Separately we are in parallel consulting on the below, which form part of the wider timelines and incentives framework applied to the Third Cap and Floor Window for Electricity Interconnectors:
The Minded-to Policy Decision document: Pre-Operational Force Majeure requests made in the Third Cap and Floor Window for Interconnectors around pre-FPA decision.
The new standard condition (SLC) 26B: Pre-Operational Force Majeure requests made in the Third Cap and Floor Window for Interconnectors around post-FPA decision.
Please send responses by 31st March 2023 to: Cap.Floor@ofgem.gov.uk
Respond name
Susanna Onyemauwa