In August 2014 we confirmed our cap and floor regime for electricity interconnectors and opened our first application window (‘Window 1’). Following our Initial Project Assessment (IPA) stage, we decided to grant five projects a cap and floor regime in principle.
As part of our IPA decisions we placed a number of conditions on projects. These aimed to ensure that developers are incentivised to deliver projects in a timely and efficient manner. We also aimed to balance this with the practical challenges that developers may face whilst delivering these complex infrastructure projects.
We are now in a position to provide an update on changes to Window 1 projects, to monitor progress against the conditions we set at our Window 1 IPA decisions, and to update these conditions to make them clearer.