Decision on Timelines and Incentives changes for the Third Cap and Floor Window for Interconnectors
Decision
- Publication date
- Industry sector
- Transmission Network
This decision sets out our new approach to the timelines and incentives framework as 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 introducing:
- 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
- The Payback Mechanism for Delays
- A modified approach to the Backstop Date (including interactions with the Payback Mechanism for Delays) and
- The Reasonable Delay Event.
Separately we have in parallel published decisions 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 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.