ElecLink is a wholly owned subsidiary of Groupe Eurotunnel. ElecLink is one of the European Commission’s Projects of Common Interest
ElecLink has received a 25 year regulatory exemption from certain clauses of the Third Energy Package to forward sell under long term contracts up to 80% (800 MW) of the interconnector capacity in each direction.
ElecLink has been selected by the European Commission as a Project of Common Interest that will contribute to the functioning of the internal energy market as well as promoting energy efficiency and the development of new and renewable forms of energy. PCIs can be implemented for reasons of “overriding public interest”.
With revenue of €1.207 billion in 2014, Groupe Eurotunnel SE invested €15 billion in the cross-Channel Fixed Link which it operates pursuant to the Concession Agreement with France and the United Kingdom until 2086. The Channel Tunnel is a vital link between Great Britain and France and more than 20 million passengers use it every year. Groupe Eurotunnel also operate a rail freight business. Further details on Groupe Eurotunnel’s activities and businesses are described on its website here.
Identified in UK National Infrastructure Plan as part of the Chancellor’s Autumn 2012 Statement on how taking advantage of interdependency between transport and energy infrastructure creates the opportunity to achieve these benefits at lower capital investment cost.
On 17 February 2012 the French and British Governments issued a joint communiqué addressing common energy projects including ElecLink.
“We acknowledge the importance of developing new electricity lines between our two countries in order to strengthen further the linking of our grids, improve the security of our energy supplies and facilitate the integration of intermittent energy sources. We encourage further studies to be undertaken on the interconnector projects currently under consideration, namely the IFA2 led by the Réseau de Transport d’Electricité and the National Grid …and ElecLink led by Star Capital Partners and Groupe Eurotunnel”.
In July 2013 ElecLink was included in the North Seas Offshore Grid list of Projects of Common Interest by DG Ener at the European Commission.