NorthConnect Limited - Notice of Consent to Transfer an Electricity Interconnector licence
Decision
Publication date
Company
Industry sector
Transmission Network
Licence type
Electricity Interconnector Licence
CONSENT TO TRANSFER
SECTION 7A OF THE ELECTRICITY ACT 1989
Whereas
A. NorthConnect KS (a company registered in Norway under company number NO996625001MVNA ) (“the transferor”) is the holder of Electricity Interconnector (“the Licence”) granted under section 6(1)(e) of the Electricity Act 1989 (“the Act”).
B. Section 7A of the Act provides that an Electricity Interconnector licence may be transferred by the licence holder –
(i) with the consent of the Gas and Electricity Markets Authority (“the Authority”); and
(ii) subject to any term of the licence relating to its transfer.
C. Paragraph 2 of Part 1 of the Licence provides that the Licence is subject to transfer in accordance with the Act, the special conditions or the conditions.
D. NorthConnect KS has applied to the Authority for its consent to transfer the licence to NorthConnect Limited (SC633953), (“the transferee”).
E. The transferee has satisfied the Authority as to the criteria set out in section 7A(6) of the Act;
F. The Authority gave notice under section 7A(9) of the Act of its intention to consent to the transfer of the licence on 6 September 2019 and no objection was received within the period of notice.
Consent to transfer
With effect from 25 November 2019 the Authority, pursuant to section 7A of the Act, consents to the transfer of the whole of the Licence to the transferee which is proposed to take place on 1 December 2019.
The Official Seal of the Authority hereunto affixed is authenticated by:
Barry Coughlan
Authorised in that behalf by the Gas and Electricity Markets Authority