Ofgem Sets Out Funding Plans for GBP 1 Bln Subsea Transmission Link
Ofgem has set out proposals to allow £1.1 billion funding for a new subsea link in the north of Scotland.
The regulator’s proposal is £173.9 million less than the funding request from Scottish Hydro Electricity Transmission (SHE Transmission) to ensure consumers pay no more than necessary.
The new link will connect 1.2GW of new renewable electricity generation following completion in 2018. This additional capacity will increase the resilience of Britain’s energy infrastructure. It will connect the electricity grid on either side of the Moray Firth.
The proposals are now under consultation for four weeks. Final decision on funding will be made in December.
Press release; Image: TenneT (Illustration)