ElecLink today announces the launch of the non-binding Expression of Interest phase for the allocation of long term contracts for up to 80% (800 MW) of the 1,000 MW ElecLink interconnector between France and Great Britain.
The move follows approvals by the competent national regulatory authorities, the Commission de régulation de l’énergie of France (“CRE”) and the Office of Gas and Electricity Markets of Great Britain (“Ofgem”), and by the European Commission to forward sell part of the interconnector capacity on a long term basis.
The ElecLink Interconnector is expected to be fully operational in Q4 2017, thereby fast-tracking new interconnection capacity and enhancing security of electricity supply during a period when reserve margins in both Great Britain and France are forecast to be in decline.
The Multi-year Products will be allocated to interested buyers through an open, transparent and non-discriminatory auction process which is expected to take place in Q2 2015. ElecLink is considering offering various contract durations up to a maximum of 20 years after commissioning of the Interconnector.
Interested parties are invited to register their interest, on a non-binding and indicative basis, in contracting interconnector capacity by 1 December 2014.
Further information on how to participate can be found in the Expression of Interest Notice and the relevant Appendices below:
1. Expression of Interest Notice (including Appendices)
2. Appendix A – Indicative Heads of Terms
3. Appendix B – Expression of Interest Registration Form (non-binding)
4. Appendix C – Non-Disclosure Agreement
5. Appendix D – Final Exemption Decision
6. Appendix E – Joint Opinion of the NRAs