We have decided to grant the Greenlink interconnector a cap and floor regime in principle. This follows our updated assessment of the Greenlink project in August 2015.
Our updated assessment of Greenlink demonstrated that the project is likely to be in the interests of GB consumers and GB as a whole.
We have considered the consultation responses we received (available on the consultation page) and taken these into account in reaching our decision.
We have decided to grant this interconnector a cap and floor regime in principle subject to a number of conditions set out in our decision letter, and no material escalation in the costs as submitted to us to date by the project developer.
We expect the developer to make its full Final Project Assessment (FPA) submission within two years of the date of this decision. Once we receive the FPA submission we will then consult on a detailed cost assessment and our decision will be used to set a provisional cap and floor.