National Grid Nemo Link Limited has welcomed Ofgem’s decision on regulatory regime for the proposed Nemo Link interconnector between UK and Belgium.
The project is being jointly developed by UK National Grid and Elia, the Belgian transmission system operator and would be the first electricity link between the two countries.
Alan Foster, European Business Development Director, National Grid said:
“The decision to allow the interconnector to be built under the new cap and floor regime gives us more certainty about the revenue streams and keeps the project on track to reach a final investment decision in Spring 2015. It’s encouraging news too for the other interconnector projects we are developing with other European partners“.
Stefaan Vanden Berghe, Elia’s Large Infrastructure Projects Director said:
“We are pleased that the regulatory regime for the Nemo Link interconnector between Belgium and UK is defined and is currently being published, both in Belgium and UK. This is an essential condition for Elia to assess and decide on the final investment decision in Spring 2015.”
The proposed 1000 megawatt interconnector would run for approximately 130 kilometres between Zeebrugge and Richborough in Kent. This would be the third electricity interconnector connection between Kent and Europe. The BritNed interconnector between Isle of Grain and the Netherlands went into operation in 2011 and the IFA interconnector between Sellindge and France began in 1986.