Proposed Interest During Construction for Offshore Transmission
Consultation
- Upcoming
- Open
- Closed (awaiting decision)
- Closed (with decision)
Publication date
Closing date
Industry sector
Offshore Transmission Network
Decision
We welcome the views of interested parties in relation to the updates set out in this document. Please also send us supporting evidence to substantiate your views by 29 January 2016. We intend to reach a decision on the matter soon thereafter.
About the IDC update
In December 2013, we committed to annual reviews of the IDC cap to reflect current market conditions, with the latest capped rate being set at 8.00% for the 2015-16 financial year.
This letter presents the capped rate of IDC Ofgem is minded-to apply to offshore transmission for the 2016-17 financial year being 7.44%, which would be applied to all assets that reach final investment decision (FID) during that period. We would like to invite interested parties to respond to the position set out in this letter by 29 January 2016.
Next steps
We will review and assess responses to this open letter. We will then publish a decision soon after.
Respond name
Scott Laczay