Post Construction Review of the IFA2 interconnector to France
Consultation
- Upcoming
- Open
- Closed (awaiting decision)
- Closed (with decision)
Publication date
Closed date
Company
Industry sector
Transmission Network
Related links
Decision
National Grid IFA2 Limited (NGIFA2) is an interconnector project regulated under our cap and floor regime. NGIFA2 commenced commercial operations on 22 January 2021.
We granted NGIFA2 a cap and floor regime in July 2015, and set the preliminary cap and floor levels in July 2018 after our assessment of the Final Project Assessment (FPA). The project has reached the final assessment stage of the regime, the Post Construction Review (PCR), where we determine the value of the Post Construction Adjustment (PCA) terms and set the final cap and floor levels for the project.
At this stage, we revisit aspects of our cost assessment that were not fixed at previous stages, and assess the efficiency of responses to events that have materialised during construction. We then determine the value of the PCA terms, which adjust the preliminary cap and floor levels to take into account our final view of the project’s costs.
About this consultation
This consultation sets out our minded-to position on NGIFA2’s PCR, in particular our views on the proposed values for the PCA terms submitted by NGIFA2 and proposed final cap and floor levels for the project.
Alongside our consultation on the NGIFA2 PCR, we are also consulting on related changes to the special conditions of NGIFA2’s licence. We are also seeking views on our updated NGIFA2 Cap and Floor Financial Model 1 and associated handbook.
This consultation will close on 23 April 2022. Subject to stakeholder responses, we aim to make our final decision on NGIFA2’s PCR and on the other elements outlined above in June 2022.
Respond name
Iqra Latif