- Publication date
- 17th December 2019
- Information types
- Policy areas
Nemo Link is the first interconnector project to be regulated under our cap and floor regime and reach the final assessment stage of the regime, the Post Construction Review (PCR), where we determine the values of the Post Construction Adjustment (PCA) terms that inform the final cap and floor levels for the project.
In September 2019, we consulted on our minded-to position on the proposed values for the PCA terms submitted by Nemo Link and the resulting cap and floor levels for the project. We also consulted on related changes to the special conditions of Nemo Link’s licence, the standard conditions of the electricity interconnector licence and on our proposal to issue new Cap and Floor Regulatory Instructions and Guidance and update the Nemo Link cap and floor financial models. We received four responses to the consultation.
This paper is our final decision on the PCR for the Nemo Link project. In particular, it specifes our determined values for the PCA terms and sets the final cap and floor levels at £77.0m and £43.9m respectively (in 2013/14 prices).
Alongside this decision, we are also publishing the consultation responses, relevant modification notices to implement changes to the special conditions of Nemo Link’s licence and standard conditions of the electricity interconnector licence, new Cap and Floor Regulatory Instructions and Guidance and final versions of the cap and floor financial models underpinning the regime.